Micro Insurance Company – Saudi Mirror http://www.saudimirror.com News On-line Tue, 23 Nov 2021 09:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 Micro Insurance Company and Bikmo Partner to Enhance Cycle-To-Work Schemes in Austria http://www.saudimirror.com/micro-insurance-company-and-bikmo-partner-to-enhance-cycle-to-work-schemes-in-austria/ Tue, 23 Nov 2021 09:00:00 +0000 http://www.saudimirror.com/?p=214440 NEW YORK, Nov. 23, 2021 (GLOBE NEWSWIRE) — Micro Insurance Company (MIC) and Bikmo are partnering to provide digital solutions to encourage Cycle to Work schemes in Austria. In this partnership, MIC brings their underwriting expertise, with the ability to create unique solutions for very specific, non–traditional use cases. Bikmo, a European–based insurtech that specializes in bicycle insurance, will control product sales as well as handle the claims process.

A Cycle to Work scheme is an initiative to promote healthier commutes to and from work while also reducing environmental pollution. It allows employers to loan bicycles (or advance a loan for the purchase of a bicycle) to employees as a tax–free benefit. It's a win–win scenario. If employees are cycling to and from work, they'll be healthier, and thus, less likely to take sick days. It also means employers can supply less car parking spaces, which reduces their costs and is also good for the environment. Lastly, for employees looking for an alternative to public transportation post–covid, cycling to work is a good option. It keeps employees active and happy.

In an effort to further boost the attractiveness of these cycle–to–work schemes in Austria, MIC and Bikmo have designed a service warranty product that is embedded into the bicycle loans given by employers. This insurance–based product allows employees to take their bicycle in for service annually, which is a great added benefit for them. It also gives peace of mind to employers, knowing that if an employee needs a repair or replacement for their bike, they are covered. In other words, the cost of an unexpected circumstance related to their bicycle will not be the reason an employee stops biking to work. Having a built–in warranty means they can take care of any of their bicycle servicing needs and be back in action quickly.

Richard Leftley, EVP of Micro Insurance Company, says:

"We are very excited to make our first entry into the EU market and to do so with an innovative insurtech such as Bikmo is an endorsement to our focus on underwriting simple, effective insurance products."

David George, CEO at Bikmo, adds:

"It's been a delight to work with an insurer as agile and responsive as MIC to bring a product to market in record time for Bikmo. We're looking forward to working with Richard and the team as we develop this product and new initiatives."

This collaboration between MIC and Bikmo is pedaling down a great path towards improving the lives for countless Austrians.

About Micro Insurance Company

MIC is a full stack digital insurance platform that combines insurance capacity, in–country insurance licenses, world class distribution, and scalable tech. MIC provides insurance to the millions of people and businesses that are unserved by the current insurance models.

For more information, please contact Richard Leftley at Richard@microinsurance.com or visit https://microinsurance.com/.

About Bikmo

Bikmo is an award–winning cycling insurance specialist who invests in technology to protect the world's cyclists. They insure bikes, kit and riders across the UK, Ireland, Germany and Austria.

For more information, please contact David George at press@bikmo.com or visit bikmo.com.


GLOBENEWSWIRE (Distribution ID 8399354)

]]>
Jazz’s Corporate Customers Can Now Avail Specialized Insurance by MicroEnsure http://www.saudimirror.com/jazzs-corporate-customers-can-now-avail-specialized-insurance-by-microensure/ Thu, 14 Oct 2021 03:00:00 +0000 http://www.saudimirror.com/?p=214780 NEW YORK, Oct. 13, 2021 (GLOBE NEWSWIRE) — MicroEnsure (part of Micro Insurance Company), a global provider of digital insurance products, and Jazz Business, one of the largest B2B solutions provider in the nation, have entered into an industry–first strategic partnership, to provide tailored insurance products at specialized rates to Jazz's corporate customers.

Under the partnership, customized insurance packages will be offered to Jazz's corporate clientele and delivered through completely digital processes. Businesses can sign their employees up for these insurance plans, mitigating the financial risk of unforeseen hospitalization due to accident or sickness. With affordability being the utmost priority, the partnership is particularly beneficial to industries with a majority of blue–collar workers.

"The year 2020 was riddled with uncertainty, and it redefined the need for insurance protection products," said Ali Naseer, Chief Business Officer at Jazz. As the only telecom offering insurance products for its corporate customers, we're proud to partner up with MicroEnsure "" a company that echoes our sentiments on the importance of digital–based processes. We look forward to a collaborative partnership that will benefit those who need it the most."

Appreciating the partnership as a major step towards the goal of reaching out to tens of millions of uninsured and under–insured Pakistanis, Rehan Butt, MicroEnsure Pakistan CEO remarked:

"Jazz with its massive outreach is in a strong position to change the insurance fabric in Pakistan and we are excited that we have been provided with a great opportunity through this partnership to take insurance products to scores of Jazz Business customers, majority of whom are yet to experience their first–ever insurance product. MicroEnsure and its Group the Micro Insurance Company aim at providing a real digital experience to our customers characterised with a simple sign–up process and an equally simple and no quibble claim process."

About MicroEnsure:

MicroEnsure is a part of the Micro Insurance Company Group which aims to provide insurance products and services to billions of un and under–served individuals and businesses across Asia, Africa and then Americas. The Group is the first global end–to–end digital micro–insurance provider that combines reinsurance capacity, in–country insurance licenses, world–class distribution and market–leading AI functionality to address this large market globally by providing an insurance platform that is capable of assuming various types of micro transactional insurance risks. For more details, please contact Rehan Butt at rehan.butt@microensure.com or visit www.microinsurance.com

About Jazz:

Jazz, Pakistan's number one 4G operator and a leading digital service provider with over 67 million subscribers including 25 million 4G users. By providing the most extensive portfolio of digital value–added services, Jazz continues to be the country's undisputed telecom leader.

About Jazz Business:

With 360–degree ICT Solutions covering Mobility, M2M, and Cloud services, Jazz Business is a 'One Window' Solutions provider to fully customizable B2B services. It is currently serving over 25,000 companies with smart communications and connectivity solutions to operate more efficiently and collaborate more effectively.


GLOBENEWSWIRE (Distribution ID 8372834)

]]>
Micro Insurance Company and Lofte Kesho Are Partnering to Offer Digital Solutions to Livestock Farmers http://www.saudimirror.com/micro-insurance-company-and-lofte-kesho-are-partnering-to-offer-digital-solutions-to-livestock-farmers/ Wed, 25 Aug 2021 14:58:19 +0000 http://www.saudimirror.com/?p=214682 NEW YORK, Aug. 25, 2021 (GLOBE NEWSWIRE) — Micro Insurance Company (MIC) and Lofte Kesho are partnering to offer digital solutions to livestock farmers in an effort to improve their economic well–being. Lofte Kesho, an integrated FinTech and AgriTech player, was created to help farmers collateralize animals as assets for financial benefits such as loans, working capital, cow replacement loans, and investment loans. They have also created unique systems for animal identification as well as the process of tokenizing animals using blockchain.

Lofte Kesho is partnering with Micro Insurance Company in an effort to strengthen their mission of helping farmers to unlock the financial benefits associated with their livestock. By partnering with MIC, farmers will now be able to insure their livestock, which gives them access to credit opportunities "" as they will now be able to use their insured livestock as collateral. This will help improve the financial state for many farmers. Furthermore, MIC is also offering a life and hospitalization cover to the middle and low segment Livestock farmers to safeguard them against many of the risks they face, so when the unexpected happens, they are able to bounce back swiftly.

Ms. Wairimu Njoki, Country Manager, Micro Insurance Company, says:

"We are pleased to be partnering with Lofte Kesho as they improve the inclusivity of livestock farmers for enhanced access to financial solutions. Farmers have always held assets through their livestock but are often locked out of financial access because historically, financial institutions have not considered livestock as a good form of security. By MIC insuring farmers' livestock, it has enabled financial institutions to get on board with accepting livestock as a secure asset, and thus, feel confident in accepting it as collateral."

Bernard Njathi, Co–Founder of Lofte Kesho, says:

"Our farmers are faced with multiple challenges. According to the World Bank, by the year 2050, food demand will increase by 70%. So what does this really mean? We need to support our farmers "" both our Crop and Livestock farmers. This is why Lofte Kesho Kenya Limited acknowledges that our livestock farmers are not necessarily poor but lack a supportive ecosystem that properly promotes and unlocks animal identification, valuation, insurance and animal collateralized loans. As a result, Lofte Kesho is excited to partner with Micro Insurance Company to further our aim of providing value–added services to livestock farmers in the areas of animal health, nutrition, and productivity. Our partnership with MIC will further enhance our ability to offer peace of mind to livestock farmers."

MIC and Lofte Kesho join forces to address both the financial and insurance inclusivity against the marginalized "" using the FarmTrek platform as a route to access these services. This partnership combines Lofte Kesho's knowledge of livestock along with MIC's expertise in product design to ensure optimal product consideration and adjusted premiums.

About Lofte Kesho

Founded in 2018 with headquarters in Kenya, Lofte Kesho is an integrated FinTech and AgriTech player offering an animal identification and traceability platform. In partnership with InfoCorp Technologies, Lofte Kesho has rolled out FarmTrek, a solution that brings inclusive financial services to the livestock industry in emerging markets via its blockchain–based platform. Lofte Kesho works with smallholder farmers to unlock financial benefits associated with their animals.

For more information, please contact Bernard.Njathi@loftekesho.com or visit: https://www.loftekesho.com/

About Micro Insurance Company

Micro Insurance Company (MIC) is a global insurance platform delivering technology, underwriting, policy management, and distribution. MIC provides insurance to platforms, micro & small businesses, and to the 4 billion people on the planet that are currently unserved. Whereas most insurtechs seek to improve existing monoline products and markets, we follow the concept of straight through processing. We do this in order to create highly relevant insurance products that we can offer globally at a very low cost via our platform to support people in their local communities. Micro Insurance Company is the world's first global end–to–end digital microinsurance platform that combines reinsurance capacity, in–country insurance licenses, world class distribution, and market leading AI functionality.

For more information, please contact wairimu.njoki@microinsurance.com or visit: https://microinsurance.com/


GLOBENEWSWIRE (Distribution ID 8315071)

]]>
Micro Insurance Company and Hava Net Limited Partner to Provide Digital Insurance Solutions to Hava’s Corporate Riders http://www.saudimirror.com/micro-insurance-company-and-hava-net-limited-partner-to-provide-digital-insurance-solutions-to-havas-corporate-riders/ Tue, 17 Aug 2021 11:00:00 +0000 http://www.saudimirror.com/?p=214021 NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) — Hava Net Limited and Micro Insurance Company (MIC) have entered into a strategic partnership with the aim of providing digital insurance solutions to Hava's corporate riders.

Hava is a technology–driven transportation solutions provider that offers online ride–hailing and delivery services in Kenya. Made by Kenyans, for Kenyans, Hava strives to balance both sides of the transportation equation "" offering drivers a way to earn money and providing customers with access to an affordable transportation service. Under this arrangement, MIC and Hava will work together to provide need–based insurance and protection plans to safeguard riders from risks who use Hava's platform. Such risks include loss of life, disability, incurred medical expenses, and loss of personal belongings while riding with Hava.

This partnership provides end–to–end enrollment, coverage, and claims settlement support, which reduces paperwork for customers and speeds up the entire process.

Ms. Wairimu Njoki, Country Manager, Micro Insurance Company, says:

"Hava is simplifying and improving the lives of the majority of Kenyans by providing easy and quick access to taxi services through the Hava ride–hailing platform. Micro Insurance Company is pleased to be their chosen partner to further drive this mission and add value by providing access to insurance for customers who choose Hava as their preferred ride–hailing platform. Through this partnership, users of Hava can travel and go about their day–to–day life with peace of mind, knowing they are covered."

Also speaking on the Launch, Mohamed Nuur, Director at Hava, says:

"We are proud to provide trip insurance for Hava customers. Hava is a local ride–hailing platform made for Kenyans by Kenyans, and our top priority is the well–being, safety, and comfort of our clients and drivers. Our partnership with MicroEnsure (now part of Micro Insurance Company) gives both us and our clients the assurance that they are always covered and protected. We will have their backs every time they choose to ride with Hava."

About Hava:

Hava is a modern, sustainable and fast–growing online ride–hailing company based in Kenya with an aim of balancing a Driver's need to earn a livelihood with that of a Rider, affordable transportation across major cities and towns. With a wide range of options to choose from; vehicle types to drivers nearby, we are the panacea to all your conveyance ills. Riders can quickly request a ride from their mobile phone using the Hava app. Our drivers are at least 21 years of age, have a smartphone, with a courteous and a friendly persona. Their vehicles are in superb condition, clean and well maintained in addition to being fully certified and licensed.

For more information, please contact: mohamed@hava.bz or visit: https://www.hava.bz/

About Micro Insurance Company:

Micro Insurance Company (MIC) is a global insurance platform delivering technology, underwriting, policy management, and distribution. MIC provides insurance to platforms, micro & small businesses, and to the 4 billion people on the planet that are currently unserved. Whereas most insurtechs seek to improve existing monoline products and markets, we follow the concept of straight through processing. We do this in order to create highly relevant insurance products that we can offer globally at a very low cost via our platform to support people in their local communities. Micro Insurance Company is the world's first global end–to–end digital microinsurance platform that combines reinsurance capacity, in–country insurance licenses, world class distribution, and market leading AI functionality.

For more information, please contact: wairimu.njoki@microinsurance.com or visit: https://microinsurance.com/


GLOBENEWSWIRE (Distribution ID 8310529)

]]>
Micro Insurance Company and ImaliPay Partner to Deliver Digital Insurance Products to Africa’s Gig Workers http://www.saudimirror.com/micro-insurance-company-and-imalipay-partner-to-deliver-digital-insurance-products-to-africas-gig-workers/ Mon, 31 May 2021 06:30:00 +0000 http://www.saudimirror.com/?p=214847 NEW YORK, May 31, 2021 (GLOBE NEWSWIRE) — MicroEnsure (now part of the Micro Insurance Company) and ImaliPay are partnering to deliver digital insurance products to Africa's gig workers. These unique insurance products will provide this underserved sector with a safety net, so when the unexpected happens, people are able to bounce back swiftly.

Micro Insurance Company (MIC) is focused on providing end–to–end microinsurance products to the mass market at affordable premiums. ImaliPay is a fast–growing Pan African and VC–backed financial services platform focused on offering credit, savings, and insurance via a single channel or API to Africa's gig economy platforms. ImaliPay deploys short–term finance easily and quickly to enable their customers to generate more revenue from their gig work.

ImaliPay is partnering with MIC to deliver insurance products to their growing customer base of gig workers in Kenya. This partnership will empower gig workers by providing insurance tailored to their needs and their level/proportion of income generation. Furthermore, the addition of this insurance product will help improve the quality of life for delivery, ride–sharing, and mobility sector workers.

The majority of gig workers, especially in the ride–sharing sector, remain active despite the Covid–19 pandemic. Due to the nature of their jobs, they remain at high risk for contracting Covid–19 with minimal access to insurance coverage to protect them. Therefore, this insurance product being offered through the partnership between MIC and ImaliPay will cover Covid–19 as well as a range of other risks including health, death, disability, and property destruction.

Micro Insurance Company brings its comprehensive trajectory and track record in providing microinsurance which ImaliPay will leverage to provide insurance products to its customers.

Ms. Wairimu Njoki, Country Manager, MicroEnsure East Africa, says:

"We are delighted to be partnering with ImaliPay to boost the rising gig economy by providing social protection through innovative, need–based insurance. This is in line with our audacious goal of insuring the 4 billion un/underinsured lives globally."

Uptake of insurance remains low in Kenya, with poor product design and constrained distribution channels contributing to low insurance penetration levels. MIC and ImaliPay join forces to address both of these issues "" using ImaliPay's platform as a route to access these services along with their knowledge of the gig workforce, and MIC's expertise in product design to ensure optimal product consideration and adjusted premiums.

Tatenda Furusa, Co–founder of ImaliPay, says:

"At the very heart of our business, we are concerned with re–defining our customer experience by providing a wider product basket and prioritising the products that are most important/necessary to our customers. Insurance sits right at the forefront of our customer needs and we're happy to be catering to those needs with this collaboration."

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a03b4557–90ee–4a47–9930–15ef8fe577c7


GLOBENEWSWIRE (Distribution ID 8245754)

]]>
Micro Insurance Company and TanManagement Join Hands in Africa http://www.saudimirror.com/micro-insurance-company-and-tanmanagement-join-hands-in-africa/ Thu, 15 Apr 2021 12:03:56 +0000 http://www.saudimirror.com/?p=213896 NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) — Micro Insurance Company (MIC) "" the world's first end–to–end digital insurance platform "" is partnering with TanManagement Insurance Brokers Limited to grow digital insurance in Tanzania. Micro Insurance Company's mission is to provide a simple safety net, so when the unexpected happens, people are able to bounce back swiftly. They do this by delivering relevant insurance products through their digital channels and partners "" providing them access to the over 4 billion people and 100 million businesses that are unserved across the globe.

Micro Insurance Company (formerly MicroEnsure) has been working diligently to partner with like–minded businesses and organizations in order to grow the distribution of microinsurance globally. The appointment of TanManagement, as Micro Insurance Company's representative in Tanzania, is part of this ongoing endeavor.

This partnership between Micro Insurance Company and TanManagement was formed as a result of leveraging the platform provided by Brokerslink "" a global company that owns and manages a worldwide insurance broking network with the initiative to strengthen the growth of digital insurance. Brokerslink is unique in that it has all the expertise needed to provide the services expected from an international firm, while also having the embedded knowledge and relationships that only local brokers possess.

Through the joining of forces between MIC and TanManagement, new and innovative insurance products will be developed and delivered to millions of individuals and businesses via various B2B partners such as telecom operators, e–commerce platforms, mobile money operators, ride hailing apps, and other platforms. Micro Insurance Company brings to the partnership it's digital insurance expertise, B2B network, innovative product development, process design, and reinsurance support, while Tan Management provides the license and outreach.

Micro Insurance Company is a global insurance platform delivering technology, underwriting, policy management, and distribution. Whereas most Insurtechs seek to improve existing monoline products and markets, MIC follows the concept of straight–through processing. They do this in order to create highly relevant insurance products that they can offer internationally at very low cost so they can support people in their local communities.

Micro Insurance Company will continue ongoing efforts to grow this model by partnering with other Brokerslink members across the globe with focus on Asia, Middle East, Africa and LATAM. MIC welcomes and encourages inquiries from members within. Contact Rehan Butt at Rehan@microinsurance.com

Micro Insurance Company is the world's first global end–to–end digital micro insurance platform that has combined reinsurance capacity, in–country insurance licenses, world class distribution, and market leading AI functionality. More details – www.microinsurance.com

TanManagement Insurance Brokers Limited is a private Limited Liability company registered in Tanzania under the Companies ordinance Cap 212 and issued with a Certificate of Incorporation No. 35174. In the past 10 years, the company has grown from a small office in Moshi to being one of the top 10 Brokerage Firms in Tanzania. For more details, log on to www.tm.co.tz


GLOBENEWSWIRE (Distribution ID 8217718)

]]>