Botswana Insurance Company

What Botswana Insurance Company does

Botswana Insurance Company Limited (BIC) is the Republic of Botswana's heritage short-term insurer, incorporated in 1975 and currently operating as the largest short-term insurer in the country by capitalization, assets, and profitability. BIC operates as a subsidiary of Botswana Insurance Holdings Limited (BIHL) Group, with regional affiliation to South Africa-based Sanlam Pan Africa, which has a 34-country African footprint. The company sells personal, commercial, and specialised insurance products — motor, homeowners, household contents, travel, fire, liability, fleet, cyber, agriculture, aviation, professional indemnity, and more — through three direct offices (Gaborone HQ, Francistown, Maun), over 30 broker partners, and 8 bank partners (ABSA, FNB, Stanbic, Standard Chartered, etc.), supplemented by package products HerShield (women-centric) and My Motswako (SME bundles). Revenue mechanics are recurring insurance premiums, with tiered monthly/annual pricing (e.g., HerShield from BWP145/month, My Motswako tiers from P133-P217/month, motor online quotes) across individual, SME, and enterprise customer segments.

The company's technology stack centres on conventional insurance policy administration and claims processing, augmented by customer-facing digital tools: the Nkamo WhatsApp chatbot launched in 2019 (a market first in Botswana), the A re Bue automated customer feedback system, the MyBIC self-service portal launched 2023, and the Mothusi process-flow system for internal operations. A 2025 product launch introduced Student Personal Accident Cover in partnership with The Broadcasters' Organisation and Ministry of Child Welfare, evidencing ongoing portfolio expansion into underserved segments.

BIC distributes through a hybrid go-to-market combining direct sales offices, broker and bank partners for SMB/individual reach, and self-service digital channels for policy management, claims submission, and motor quotes. Marketing spans content (Facebook Insurance Thursdays series, Lenaka quarterly newsletter), events (BIC Annual Thought Leadership Conference entering its 4th year in 2026), customer engagement (WhatsApp, MyBIC portal), and CSR programmes in Health and Education (Autism Botswana, BSPCA Gaborone, Mokolodi). The company has accumulated industry recognition, including PMR Diamond Arrow 2021 and consecutive Best General Insurer awards in 2021 and 2022, but discloses no revenue or ARR in publicly available material.

Name

Botswana Insurance Company

Legal name

Botswana Insurance Company Limited

Website

https://bic.co.bw

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Short description

Botswana Insurance Company Limited is the largest short-term insurer in Botswana, incorporated in 1975 and a subsidiary of BIHL Group / Sanlam Pan Africa, offering personal, commercial, and specialised insurance plus women-centric (HerShield) and SME (My Motswako) bundles across the country through 30+ brokers and 8 bank partners.

Ownership category

akta.pro rank

Product category

General (Short-Term) Insurance

NAICS

Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

akta.pro secondary industry

Small Business BOP (Main Street) (FSAJAFAA)

Keywords

• Short-term insurance
• Motor vehicle insurance
• Commercial property insurance
• Personal accident cover
• Specialised insurance products

Headquarters

HQ city

Gaborone

HQ country

Botswana

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain, Others

Revenue model

1. Insurance Premiums - Personal Lines: Collection of insurance premiums from individual policyholders for personal insurance products including motor vehicle, homeowners, household contents, personal accident, travel, and small leisure craft insurance.
2. Insurance Premiums - Commercial Lines: Collection of insurance premiums from business customers for commercial insurance products including fire, buildings combined, business interruption, public liability, workers compensation, theft, money, fidelity, goods in transit, business all risks, electronic equipment, glass, fleet cover, machinery breakdown, and erection all risk insurance.
3. Insurance Premiums - Specialized Lines: Collection of insurance premiums for specialized insurance products including directors and officers liability, bankers blanket bond, cyber crime, agriculture insurance, political riot, jeweller's block/diamond specie, bonds and guarantees, pension fund trustees liability, retrenchment cover, professional indemnity, and aviation insurance.
4. Package Insurance - My Motswako: Bundled insurance packages (Motswako 1, 2, 3) for small businesses combining fire, theft, money, public liability, WCA, and B.A.R coverage at various price points.
5. Package Insurance - HerShield: Women-centric insurance package combining motor shield, legal insurance, home owners cover, house contents, and personal all-risk cover at premiums starting from BWP145 per month.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Botswana Insurance Company (BIC) is Botswana's largest short-term (general) insurer, underwriting personal, commercial, and specialised insurance products since 1975. The company offers motor, home, contents, travel, personal accident, and leisure craft cover for individuals; fire, fleet, liability, workers compensation, machinery breakdown, and goods-in-transit cover for businesses; and niche products such as cyber crime, aviation, agriculture, directors and officers liability, professional indemnity, and retrenchment cover. It also sells bundled packages (My Motswako for SMEs, HerShield for women) distributed through brokers, banks, direct offices, and digital channels.

Product overview

Botswana Insurance Company (BIC) offers a comprehensive short-term insurance portfolio organized across four main product lines: Personal Insurance covering motor vehicles, homes, travel, and personal belongings; Commercial Insurance protecting businesses against fire, property damage, liability, and operational risks; Specialised Insurance addressing niche needs including cyber crime, agriculture, aviation, directors and officers liability, and professional indemnity; and My Motswako Insurance providing bundled packages for individuals and SMEs. Additionally, HerShield is a pioneering women-centric insurance brand offering tailored motor, legal, home, and personal risk coverage. BIC positions itself as a one-stop solution for comprehensive protection across all customer segments.

Differentiator

Problem solved

Functional benefit

Brands

• HerShield: Women-centric insurance solution delivering comprehensive, tailor-made insurance packages addressing unique needs of women.
• My Motswako Insurance
• Nkamo
• A re Bue

Products and services

• Personal Insurance Affordable individual insurance policies covering personal needs including motor vehicles, homes, household contents, personal accident, travel, and personal belongings for consumers across Botswana.
• Motor Vehicle Insurance Comprehensive motor cover for theft, fire, accidental damage, hijacking, property damage, and third-party liability, offered as comprehensive, third party fire and theft, or third party only.
• Homeowners Insurance Coverage for residential properties including outbuildings and swimming pools against fire, explosion, earthquakes, and other perils, with replacement-cost cover including professional fees.
• Household Contents Insurance Coverage for household contents and personal effects against theft, fire, lightning, storm, flood, and related perils for homeowners and tenants.
• Personal All Risks Cover Coverage for movable personal accessories including handbags, wallets, sunglasses, jewellery, portable electronic devices, and clothes against accidental loss, damage, theft, or fire.
• Personal Accident Cover Compensation for death, bodily injury, or disappearance following an accident while traveling in a conveyance, for individuals and families.
• Travel Insurance Worldwide travel insurance covering loss of luggage, travel delays, medical expenses, missed connections, and business equipment including laptops and mobile phones.
• Small Leisure Craft Insurance Aircraft/vessel insurance covering accidental loss or damage including theft, personal effects, malicious damage, and transit damage for small leisure craft owners.
• Commercial Insurance Business protection insurance covering commercial properties, operations, and liabilities for business owners, including fire, fleet, theft, money, workers compensation, business all risks, and machinery breakdown.
• Fire Insurance Coverage for damage to commercial property, buildings, or structures against fire, lightning, explosion, and natural causes.
• Buildings Combined Insurance Coverage for commercial and community buildings including offices and churches against fire, lightning, and explosion, with reinstatement or replacement of damaged buildings.
• Fleet Cover Insurance Insurance coverage for commercial vehicle fleets with comprehensive motor protection.
• Machinery Breakdown Insurance Coverage for sudden and unexpected breakdown of machinery in commercial operations.
• Specialised Insurance Niche insurance products covering specialized risks including cyber crime, agriculture, aviation, directors and officers liability, professional indemnity, and retrenchment cover for enterprise clients.
• Directors and Officers Liability Insurance Protection for company directors and officers against claims arising from their management decisions and actions.
• Cyber Crime Insurance Coverage for losses and liabilities arising from cyber attacks, data breaches, and other cyber crime incidents.
• Agriculture Insurance Specialized coverage for agricultural operations against crop failure, livestock loss, and farming equipment damage.
• Aviation Insurance Comprehensive coverage for aircraft operators, owners, and aviation businesses against aviation-specific risks.
• Professional Indemnity Insurance Protection for professionals against claims arising from negligent acts, errors, or omissions in their professional services.
• Retrenchment Cover Financial protection for employees against job loss and retrenchment.
• My Motswako Business Insurance Bundled insurance packages (Motswako 1, 2, 3) for small enterprises such as tuckshops and general dealers, covering owned or rented property, stock, fire, theft, money, public liability, workers compensation, and business all risks across three tier levels with monthly premiums from BWP133.
• HerShield Women-Centric Insurance Package Pioneering women-centric insurance solution bundling Her Motor Shield, Legal Insurance, Home Owners Cover, House Contents Cover, and Personal All-Risk Cover with premiums from BWP145 per month to address women's unique insurance needs.
• Student Personal Accident Cover Personal accident cover launched in February 2025 in partnership with The Broadcasters' Organisation (TBO), providing medical expenses and school remission coverage for students in Botswana.

Quantifiable outcome

• Processed aircraft insurance claim within 2 weeks for Major Blue Air client
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• The Broadcasters' Organisation (TBO)coreStrategic or Co-development PartnerCSR partnership under Education pillar. TBO received P150,000 from BIC to contribute towards their development. Partnership also involves enhancing BIC Motshwao IT system to provide support to schools registered on the system.
• Autism BotswanacoreStrategic or Co-development PartnerCSR partnership under Health pillar. Autism Botswana received P50,000 from BIC to contribute towards their development and support for autism awareness and services.
• Botswana Society for the Prevention of Cruelty to Animals (BSPCA Gaborone)minorStrategic or Co-development PartnerCSR partnership supporting animal protection. BIC visited BSPCA to show support towards animal welfare.
• Ministry of Child WelfarecoreStrategic or Co-development PartnerPartnership with government ministry for Student Personal Accident Cover - aligning with Ministry's reinforcement that students' future should not be derailed due to unforeseen accidents. Includes medical expenses and school remission coverage.
• Alexander Forbes Financial Services BotswanacoreChannel Partner/ Reseller/ DistributorBroker partner offering insurance distribution services in Botswana.
• BOC Insurance BrokerscoreChannel Partner/ Reseller/ DistributorBroker partner providing insurance distribution and advisory services.
• Marsh BotswanacoreChannel Partner/ Reseller/ DistributorGlobal insurance broker partner providing risk consulting and insurance brokerage services.
• Minet BotswanacoreChannel Partner/ Reseller/ DistributorInsurance broker partner providing insurance solutions and services.
• FNB Insurance Brokers BotswanacoreChannel Partner/ Reseller/ DistributorBank-affiliated insurance broker providing insurance distribution through First National Bank network.
• Stanbic Insurance ServicescoreChannel Partner/ Reseller/ DistributorBank-affiliated insurance broker providing insurance distribution through Stanbic Bank network.
• Standard Chartered Bank InsurancecoreChannel Partner/ Reseller/ DistributorBank-affiliated insurance provider offering insurance products through Standard Chartered Bank network.
• ABSA Insurance Services BotswanacoreChannel Partner/ Reseller/ DistributorBank-affiliated insurance broker providing insurance distribution through ABSA Bank network.

Scale indicators5 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• Liberty Holdings (Standard Bank): Pan-African insurance and investment group distributing cover through Standard Bank's banking network, including Botswana; comparable to BIC's bancassurance model with ABSA, FNB and Stanbic.
• Momentum Metropolitan Holdings: South African insurance group with P&C, life and investment operations across Africa; a relevant comparator for product breadth, bancassurance strategy and African expansion ambition relative to BIC/BIHL.
• Allianz Africa: Global insurer expanding across Africa in P&C and specialty lines; competes for large corporate, aviation and specialty risks in Botswana and could pressure BIC's mid-market and specialty book with deeper capacity and reinsurance access.
• Sanlam Emerging Markets (incl. Sanlam Pan Africa): Pan-African insurance and investment group that is BIC's affiliated shareholder via BIHL Group; operates short-term and life insurance across 34 African countries and is the broader incumbent whose strategy frames BIC's growth ceiling and product roadmap.

Direct peers

• Regent Insurance Botswana: Botswana-focused short-term insurer offering motor, commercial and personal lines through broker networks; competes in the same channels and segments as BIC within Botswana.
• Hollard Insurance Botswana: One of BIC's principal direct competitors in the Botswana short-term insurance market, offering personal, commercial and specialty lines through broker and direct channels — directly comparable in product mix, distribution model and customer segments.
• Old Mutual Insurance Botswana: Major Botswana-based short-term insurer with personal, commercial and group cover; competes head-to-head with BIC for the same pool of individuals, SMEs and corporate clients via broker and bancassurance networks.
• Aon Botswana: Global insurance broker with a Botswana presence that distributes P&C, specialty and corporate cover alongside BIC's broker partners; competes for the same corporate and mid-market placements through advisory-led distribution.

Emerging players

• Guardrisk Insurance Company: South African cell-captive and specialty insurer with growing presence across Africa; competes with BIC in niche and specialty lines such as cyber, D&O and professional indemnity where BIC is also expanding.

Regional players

• African Insurance Group: Pan-African insurance group with multi-country P&C offerings; relevant as a regional comparator for cross-border growth ambitions and product portfolio breadth relative to BIC's Botswana-only footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/botswanainsurancecompany
• LinkedInlinkedin.com/company/botswana-insurance-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Botswana Insurance Company