IslamicFinance.de

In this interview Peter Gross from MicroEnsure talks about Microinsurance and Microfinance. He defines microinsurance as insurance for emerging customers. These types of products are specifically designed for an underserved population that typically can’t get access. MicroEnsure is a specialist provider of Insurance for customers in emerging markets and has registered over 55 million customers in 10 different countries in Asia and Africa. MicroEnsure partners with over 70 different insurers. Their biggest shareholder is AXA, alongside Omidyar Network, IFC and South Africa’s Sanlam. For distribution, the products need to be able to be offered and distributed through the masses. Making an easy to purchase process over mobile or other e-platforms is critical. From an operational perspective, MicroEnsure needs to assume a lot of mistakes on the data input from the consumer. MicroEnsure’s technology is fully API-enabled and can be easily plugged into their distribution partners.