If you have a car or a motorbike and are driving on the roads then you may be wondering why is insurance called Bima where does this word originate from? It is a question that can be asked by the common man but not by the car owners as the insurance companies ask them about the reason for the insurance.
Motorbikes are expensive therefore most of the people who purchase these motorbikes do not pay much attention to the insurance aspect. On the other hand, if you drive a car you must know that the insurance aspect plays a very important role in protecting your life and property. The question here is why is insurance called Bima where does this word originate from?
There are many theories about this question and some of them are easily answered by the experts while some others are nothing but hearsay or conjecture. The two factors which need to be kept in mind while discussing the matter are the current situation and the history of the Bima.
You cannot help but know about the history of the Bima from the earlier times and how the insurance companies started their dealings with the motorbike and motorcycle industries. There are many incidents that occurred in the past that explain the origins of the word Bima.
In the modern world the word Bima originates from the location where the company was based. The companies started their operations at Bimara Town, Namibia. Today, the main town of Bimara is called Jura and its biggest city is Johannesburg.
In the beginning of the 20th century the industrialists of Bimara became greedy because they used to create many motorcycles and they wanted to sell all the motorcycles that they were producing at the same price. The modern Bima was a low-priced bike and the companies did not want this kind of rivalry between them.
The companies were looking for a competitive price and they realized that they could get the best bargain at the time if they used to buy all the motorcycles from one seller and maintain a unique quality of each bike. After all the purpose of the manufacturing was to make a low-priced bike that will be competitive with the motorcycles produced by other companies. This worked well and all the other companies started using the same idea of a selling a bike at low prices.
The use of Bima started in Germany and eventually spread all over the world. From that day onwards there was an increasing competition among the motorcycle and auto companies who were manufacturing low priced motorbikes. Every company wanted to develop a new model which was low priced and also the production rates and quality were enhanced.
The competition grew further in the process and the slogan “Why is insurance called Bima where does this word originate from?” gradually became popular throughout the world.
Since the market for Bima started to grow in the United States there were many insurance companies who wanted to get their share of the pie, but they never seemed to get enough. Their marketing efforts helped them raise their prices and it was obvious that the customers did not care. When the technology moved to Europe the insurance companies began to use the same argument but this time the European companies understood that they had a competitive advantage in the market.
With the government backing the European companies had more strength and they pushed the Bima and motorcycle industry. This was considered as a good move by the insurance companies asthey found an industry where the government had made a very good entry.
The second part of the article focuses on the reasons why it is advisable to buy a motorbike and how you can avoid paying an arm and a leg for the privilege. How is insurance called Bima where does this word originate from?