MicroEnsure

insurtech

FOUNDING YEAR: 2005
LOCATION: United Kingdom
Last Update: 01/05/2020

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About

MicroEnsure is a specialist provider of insurance to the mass market with more than 42 million customers in markets across Africa, Asia and the Caribbean. We provide a range of life, health and property products via a range of distribution partners that include microfinance companies, co-operatives and mobile network operators. The team at MicroEnsure started working on developing its model in 2002 and established itself as the Micro Insurance Agency in 2006, which was then renamed as MicroEnsure in 2008. In 2013, Opportunity International divested its majority stake in MicroEnsure and the company secured investment from IFC, Omidyar Network and members of MicroEnsures management team to provide the funding and strategic relationships necessary to continue its growth. MicroEnsure is at the forefront of bringing insurance to the mass market via the mobile phone. In 2013 MicroEnsure Asia was established as a joint venture between Telenor Group and the UK based MicroEnsure Holdings Limited. MicroEnsure Asia will initially focus on introducing a range of insurance products to Telenor's 149 million subscribers across its business units in Asia as well as seeking to work with other mobile network operators and distribution partners in Asia and Eastern Europe. For more information please visit www.microensure.com or join the conversation at facebook.com/microensure and follow us on Twitter @microensure

MEDICI Analysis

MicroEnsure is an insurance intermediary, provides index-based micro-insurance products to the poor in sub-Saharan Africa and the Asia/Pacific. Its insurance products include credit life, funeral, health, political violence, property, typhoon, and weather index crop.

Focus

PRODUCTS & SERVICES

Insurance provider for life, health, property, livestock and other industries.

MAIN CLIENTS

Retail consumers

company provided insights

Traction

TRACTION COMMENT:

The company has total 48.76 million registered customers where 18.02 million new customers and 28.26 million claims are paid till 2016.

People

FOUNDERS

Richard Leftley

NUMBER OF EMPLOYEES

51-200

INVESTORS:

International Finance Corporation

OMIDYAR NETWORK

Opportunity International

Telenor

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

1

TOTAL FUNDING

$10.4 M

DATE OF LAST FUNDING

Aug 2014

SEED & PRIOR FUNDING

$10.4 M

SEED CLOSED ON

Jun 2014

LISTED

NO

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