InsurTech Bi-me (Business Insurance for Me) ran its ‘soft launch’ in November 2021. By March 2022 the start-up launched comprehensive insurance products from Discovery and Hollard, followed by cyber-insurance in July, public liability insurance in August and professional indemnity insurance in September 2022. The company says it saw the opportunity in Lockdown, with the majority of small businesses in South Africa being uninsured. Bi-me says that business insurance is still mostly underwritten in a manual, paper-intensive process, something they’re trying to change. For some products, they say they are now providing up to 90% quotes on the spot.
