Microensure
MicroEnsure’s momentum has picked up rapid pace over the past year via a series of groundbreaking products and initiatives in Africa and Asia
Microensure
Unprecedented InsuranceWriter: Matthew StaffProject Manager: Callum Philp MicroEnsure has enjoyed an unprecedented rise in registered customers over the past 12 months as a result of its innovative product and distribution approaches, and is already setting its stall for the next 12 months in the low-income insurance bracket across the continent.The increase to seven million customers served in Africa, from the one million accounted for at the beginning of 2014, provides the answer to a question the Company asked itself prior to inception in 2002: “Is it possible to insure the low-income mass market?”A resounding “yes” has been the response from Ghana and Kenya initially, and now from a further eight markets across Africa, through its partner Group model comprising telecoms, banks and other aggregators.With a global headquarters in the UK, MicroEnsure provides a turnkey solution portfolio from its regional headquarters in Nairobi - in partnership with its distributors - for brands looking to use insurance to drive their business: its offering including innovative product design; customised, customer-facing mobile technology; back-office operations; risk management; policy and claims administration; customer engagement; and ongoing product performance management. Marketing Director, Peter Gross adds: “Low-income customers can’t afford to pay the same premium as typical insurance customers, and yet they face greater risk. We found that we could serve this market sustainably by lowering administrative costs, reaching scale quickly, building great products, and preserving trust through fast claims payment. “In the process we uncovered dozens of new ways to provide insurance and we’ve become the fastest-growing provider in Africa by outreach.”An additional four million customers around…
Microensure
Unprecedented InsuranceWriter: Matthew StaffProject Manager: Callum Philp MicroEnsure has enjoyed an unprecedented rise in registered customers over the past 12 months as a result of its innovative product and distribution approaches, and is already setting its stall for the next 12 months in the low-income insurance bracket across the continent.The increase to seven million customers served in Africa, from the one million accounted for at the beginning of 2014, provides the answer to a question the Company asked itself prior to inception in 2002: “Is it possible to insure the low-income mass market?”A resounding “yes” has been the response from Ghana and Kenya initially, and now from a further eight markets across Africa, through its partner Group model comprising telecoms, banks and other aggregators.With a global headquarters in the UK, MicroEnsure provides a turnkey solution portfolio from its regional headquarters in Nairobi - in partnership with its distributors - for brands looking to use insurance to drive their business: its offering including innovative product design; customised, customer-facing mobile technology; back-office operations; risk management; policy and claims administration; customer engagement; and ongoing product performance management. Marketing Director, Peter Gross adds: “Low-income customers can’t afford to pay the same premium as typical insurance customers, and yet they face greater risk. We found that we could serve this market sustainably by lowering administrative costs, reaching scale quickly, building great products, and preserving trust through fast claims payment. “In the process we uncovered dozens of new ways to provide insurance and we’ve become the fastest-growing provider in Africa by outreach.”An additional four million customers around…
