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MIC Global acquires FLOvate Solutions Ltd, introduces MiCology

10.03.2022
Company News Press Release
name micology

NEW YORK, NY, UNITED STATES (Oct. 3, 2022) – MIC Global, the full-stack digital insurance company specialising in innovative embedded microinsurance, is pleased to announce the acquisition of FLOvate Solutions Ltd, the UK-based developers of the LEAP low-code process automation solution to strengthen its ability to develop and offer innovative technology solutions for its customers.

As a full-stack digital insurance company, MIC Global offers a complete digital solution, including product design, underwriting, global fulfilment, customer journey and claims management. The acquisition of FLOvate Solutions and the LEAP low-code platform serves to strengthen MIC Global’s extensive in-house digital capabilities. The acquisition will see FLOvate Solutions rebranded as MiCology as it becomes part of the MIC Global brand.

Harry Croydon, Co-Founder and COO of MIC Global, said:

“I am delighted to welcome FLOvate Solutions into the MIC Global family. With more than 20 years’ experience of developing business process automation software for the insurance and financial services sectors, their in-depth understanding of the markets we operate in, combined with their technical expertise and the power of the LEAP low-code platform, made them the obvious fit to complement our existing capabilities.”

FLOvate’s team of 16 are based in Ipswich, UK, and includes solutions analysts, software developers, business analysts, deployment specialists and project managers. They will join the MIC Global team of more than 110 employees, with operations in 17 countries and growing.  

Additionally as part of the rebrand, existing MIC team members based in Bangalore, India – who previously worked under the TonkaBI banner before merging into MIC Global in 2020 – will be joining the newly formed MiCology team.

About MIC Global:

MIC Global is a full stack digital insurance company that provides embedded insurance for today’s digital world. MIC Global combines insurance capacity, in-country insurance licenses, world class distribution, and scalable tech. MIC Global creates embedded insurance solutions for platform companies that adds value by:

  1. Enhancing their brand
  2. Differentiates their product
  3. Drives up revenue
  4. Attracts and retains customers

For more information, please visit https://www.micglobal.com or Contact Us (Press Inquiries)

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MIC Global Promotes Paige Stiefel to Chief Underwriting Officer

08.15.2022
Company News Underwriting
CUO card

MIC Global is delighted to announce the promotion of Paige Stiefel to Chief Underwriting Officer. At MIC, being the Chief Underwriting Officer is broader than the traditional industry standard of CUO. At its core, Underwriting is an art, not a science. At MIC, the CUO embodies creativity, artistry, and innovation – all key skills of Paige.

Being the CUO at MIC Global means dealing with some of the most innovative companies and startup in the world and matching that innovation through underwriting. This is where the art comes in, taking ambiguity, data, analysis, and experience to tell a story and create meaningful products and experiences for our customers. With Paige’s leadership the underwriting team listens to our customers to break down traditional insurance barriers to take our customers on a journey – a journey to develop programs that provide protection, trust, peace of mind, and an overall safety net.


Read more: Introducing MIC Global’s Innovation Underwriters

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Introducing MIC Global’s Innovation Underwriters

08.03.2022
Company News Underwriting
IUW blog

MIC Global is excited to announce the creation of Innovation Underwriters. Today, we highlight our first two Innovation Underwriters, Kostas Diakogeorgios (left) and Antonio Pedro. Based in London and New York, respectively, and covering the Americas, Europe, Middle East, Africa, and Asia; our Innovation Underwriters will be on the frontlines of product creation and implementation, looking for new and interesting approaches to embedded microinsurance insurance!

“The opportunity to be one of the first Innovation Underwriters at MIC Global is exciting; it’s an absolute privilege to grow my underwriting experience to develop new and innovative ways to bring microinsurance to the masses. MIC Global is constantly striving to drive product innovation and I’m confident that I can do my part to help!”

– Kostas Diakogeorgios

“It is a great pleasure to have been offered a position as one of the first, of what I am sure will be many, Innovation Underwriters within MIC and the insurance industry. The role aims to reinvent the way insurance companies do business by promoting greater homogeneity between underwriting and sales processes and I am excited to see where I can take this role, and where this role takes me as I develop as an underwriter.”

– Antonio Pedro

Read more: MIC Global Promotes Paige Stiefel to Chief Underwriting Officer

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MIC Global Welcomes Erik Johnson to the Team as Active Underwriter, Lloyd’s Syndicate 5183

05.03.2022
Company News Underwriting
Welcome Erik Johnson MIC

Update January 1, 2025: MIC Global Syndicate 5183 has closed as of the end of its 2024 Year of Account. MIC continues to offer Lloyd’s backed insurance underwriting as a Coverholder of Greenlight Re’s Syndicate 3456. Read more.

Update April 2024: Erik Johnson has left MIC Global for a new role. MIC’s new Active Underwriter s5183 and Innovation Underwriting Director is Mark Campbell.

MIC Global is excited to welcome Erik Johnson to the team as Active Underwriter.

Erik Johnson is an experienced insurance leader with over 19 years of experience. His professional career includes work in strategy and M&A at Deloitte with a focus on insurance as well as at Lloyd’s on their strategy team. Prior to joining MIC Global, Erik was the Deputy Active Underwriter of Victor Syndicate, where he was also on the Executive Committee of the Insurance Institute of London and a National Forum Officer with the Chartered Insurance Institute.

Erik also sits on the Board of Inclusion at Lloyd’s as well as the Risk Management & Insurance Advisory Board of the Haskayne School of Business. He is an International Ambassador of the LGBT Insurance Network and is also part of the Insurance Women’s Inclusivity Network’s committee.

On why he chose to join the team at MIC Global, Erik shares, “MIC was a natural fit for me. I am not your traditional Lloyd’s market professional and MIC Global is not your traditional Lloyd’s syndicate. I’m excited to work for a purpose driven insurer that is disrupting traditional insurance through simple, affordable products in underserved markets globally and growing demand by embedding insurance into existing products and services – all supported by leading edge technology.”

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Calling All Insurtech and Platform Business Owners – Win the Chance to Design and Implement an Embedded Insurance Product With MIC Global

04.27.2022
Company News
blog comp closed

Update: July 1st 2022

Competition closed to entry on June 30th 2022. Winner to be announced September 13th 2022.

The competition may be over, but we’d still love to hear from you! If you have an innovative idea that could benefit from embedded micro insurance, get in touch with us to see how MIC Global can help you increase revenue and improve KPIs by using embedded insurance products to attract and retain customers and service providers.


Original article: April 27th 2022

MIC Global – a full stack insurtech that creates embedded insurance products and services for platform companies in over 12 countries with 4 million insureds – is hosting a competition and inviting all insurtech business owners to enter.

The Prize:

Working with MIC Global to design and implement an embedded insurance product for your business.

Along with MIC Global’s great tech, we recently received in-principle approval for Lloyds Syndicate 5183 and will begin writing business on June 1st, 2022. This will help us expand even further into the US, Europe, and Asia.

The winner of this competition will get a once in a lifetime chance to work with MIC Global to design and create an innovative embedded insurance product that will help their business achieve one of the following: increase sales, drive revenue, attract more customers, and/or increase loyalty of existing customers.

Enrollment:

Enrollment for the competition is now open and the cut off for submissions is June 30th, 2022. The winner will be announced on September 13th at the InsurTech London event. 

To apply, applicants should send either a video submission (3 minutes max) or a written business proposal (500 words max) and can submit it via MIC Global’s website here: https://www.micglobal.com/competition

Criteria:

Must have at least ONE of the following:

  1. an existing user base of customers
  2. access to customers through other sales channels / partners
  3. solid traction with a clear, committed strategy for growth and scale
  4. an innovative idea that your competitors don’t offer

Must be in one of the following sectors:

  • Gig Economy / Shared Economy
  • Telecoms
  • Banks
  • IoT Smart Device Manufacturers
  • Weather / Travel related
  • Food delivery services
  • Home renting/ vacation rental services
  • Digital Creators
  • Micro entrepreneurs (service industries, shop owners, farmers, etc.)
  • Transactions (money flow, digital wallets, payment platforms, etc.)
  • Pet products/ services
  • Mobility (ride-sharing, good moving, logistics, etc.)

Please note: This is a global competition and we welcome entries from all parts of the world. Unfortunately we are unable to work with sanctioned entities.

Grading Scale:

Contestants will be graded on a scale from 1-5 in the following categories. The contestant with the highest average rating across all 5 categories will be the winner:

  1. Innovativeness
  2. Ability to prove it can work – (Has your business done it before with another product or service? If not, what other convincing data can you provide to show proof of concept/ success?)
  3. Investment Stage (does your business have any investors yet?)
  4. Potential Revenue (a solid strategy for growth and scale)
  5. Track record (What successes/ wins has your business had thus far to show credibility?)

We look forward to hearing from you. Good luck!

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