TANZANIA (March 1, 2021) – MicroEnsure, part of the MIC Global (MIC) – the world’s first end-to-end digital insurance platform, appoints TanManagement Insurance Brokers Limited as their representative in Tanzania for the growth of digital and microinsurance products. At MIC, our mission is to provide a simple safety net, so when the unexpected happens, people can bounce back swiftly. We do this by delivering relevant insurance through our digital channels and partners allowing us to access the more than 4 billion people and 100 million businesses that make up our community across the globe.

MIC 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 MicroEnsure’s representative in Tanzania, is part of this process. Under this arrangement, we will develop new and innovative insurance products and deliver them to millions of individuals and businesses. These insurance products will be distributed through technologically enabled seamless digital processes, leveraging license and outreach provided by TanManagement.

‘‘This partnership is a significant step towards fast growth of insurance penetration in Tanzania which otherwise has one of the lowest insurance penetration rates in the region. Both MicroEnsure and TanManagement are leveraging each other’s strengths and building a strong foundation of providing most relevant insurance products to millions of customers of FinTechs, mobile network operators, digital wallets, microfinance institutions and digital platforms.’’ –

Rehan Butt VP Sales Operations of MIC

“This partnership is the most logical next step for our Group as it will create substantial value for Customers throughout the Country. It will benefit Customers through new services and expand the current service capabilities. It is also very much in line with the Governments’ vision of ensuring 50% of Tanzanians are Insured by 2028. We look forward to playing our part with this vision and look forward to the future of Insurance in Tanzania.”

Mohammed Jaffer, Group CEO of TanManagement Insurance Brokers Limited

“I have known TanManagement for several years and I am very pleased that we have been able to form this exciting partnership to widen our mission to deliver a simple safety net to the businesses and peoples of Tanzania.”

Harry Croydon, COO and President MIC Global

MicroEnsure is a part of MIC Global (MIC). MIC was formed through the merger of Micro Insurance Company and MicroEnsure. MIC is the global insurance platform delivering technology, underwriting, policy management and distribution. MIC provides insurance to platforms, businesses, millions of 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 via our platform globally at very low cost so that we can support people in their local communities. MIC 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.micglobal.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

PAKISTAN (Feb. 23, 2021) – Marie Stopes Society Pakistan has entered into a strategic collaboration with MicroEnsure (part of MIC Global) to introduce a new health care initiative under the Delivering Accelerated Family Planning in Pakistan (DAFPAK) programme funded by UK – Foreign, Commonwealth & Development Office (FCDO), Pakistan with the name of “Sehatyab Programme” for the women and their families living in low and middle-income communities of Karachi. Through this programme, services like general out-patient, family planning & maternal and child health services can be availed at a considerably low amount in addition to free health insurance for women and their families. The Development Director to the British High Commission in Pakistan Annabel Gerry said;

“The UK is committed to support Pakistan in increasing access to family planning services and healthcare facilities especially for the most vulnerable women. We’re proud to invest in the Sehatyab microinsurance programme which will directly improve the lives of 5000 families including women, children and men in Karachi, Sindh through the provision of quality maternal and child care health facilities.”

Speaking on the occasion, Ms. Asma Balal Country Director, Marie Stopes Society Pakistan stated that:

“In Pakistan, maternal complications such as post-partum infection and hemorrhage account for over 50% of maternal mortalities. Additionally, financial barriers and lack of social security systems make poor women most vulnerable in terms of being able to access essential reproductive health services. The Sehatyab programme will improve the economic well-being of women and their families by reducing out-of-pocket health expenditures, as well as result in reduced maternal and neonatal mortality rates through increased provision of mother and child health and family planning services for improved treatment outcomes.”

Appreciating the partnership as another step towards the goal of reaching out to the tens of millions of uninsured and under-insured Pakistanis, Mr. Rehan Butt Vice President of MIC added that:

“We are very excited to work with Marie Stopes Society on this project. We have a track record of developing simplified insurance products and processes which help build faith for common men and women in insurance as an important risk management tool. Marie Stopes Society and MicroEnsure have a mission of serving the underserved communities in Pakistan and have a natural strategic fit for collaboration. We are confident that this partnership will go a long way in extending affordable financial protection to those who need it the most.”

Marie Stopes Society (MSS) is a Pakistan based local organization, registered under the Societies Act, 1860 since 1990. MSS Pakistan is one of the leading private sectors services providing organization with a focus on sexual and reproductive health services, especially family planning with a network of 26 Behtar Zindagi Centres, 03 maternal and child health clinics, 400+ social franchises network, 6 Meri Pharmacies, and 15 Roshni mobile units for outreach activities spanning over 30 districts in Sindh, Punjab and Khyber Pakhtunkhwa provinces reaching out to the most strategic and rural districts in Pakistan. More information is available at www.mariestopespk.org and 0800-22333.

MicroEnsure Pakistan (Private) Limited is a wholly owned subsidiary of MicroEnsure Holdings, UK – part of the STP Group Holdings. The company is a licensed insurance broker by the SECP and a specialist provider of innovative mass market insurance solutions. The STP Group aims to provide insurance safety net to millions of micro & small businesses and to the 4 billion people on the planet that are currently un/under served. Insurance is a highly fragmented market fixated on complex products, cumbersome customer journeys and stymied systems that prevents the swift payment of claims. The STP Group has created the world’s first global end-to-end digital microinsurance solution that will combine reinsurance capacity, in-country insurance licenses, world class distribution and market leading AI functionality. For more information visit www.micglobal.com

NEW YORK, NY, UNITED STATES (July 8, 2020) – Creation of the world’s first global end to end digital platform to bring micro transactional insurance to the unserved.

Effective 1st July 2020, STP Group merged with MicroEnsure and TonkaBI to create “The Micro Insurance Company” (later rebranding as the global insurtech “MIC Global”) which aims to provide insurance to internet platforms, millions of micro & small businesses and to the 4 billion people on the planet that are currently unserved

Insurers have been operating for decades and yet billions of people and millions of businesses still have no access to the safety net that insurance provides. Insurance is a highly fragmented market fixated on complex products, cumbersome customer journeys and stymied systems that prevents the swift payment of claims. The forming of “The Micro Insurance Company” will be the first global end-to-end digital micro insurance solution that will combine reinsurance capacity, in-country insurance licenses, world class distribution and market leading AI functionality.

Harry Croydon, CEO, STP Group, said

“Today’s announcement marks one of the most significant milestones in the history of the micro insurance industry. After years of market development, it is only now that the necessary technology has been developed so that we can offer complete micro insurance products to the unserved. We provide people with a simple safety net, so when the unexpected happens they can bounce back swiftly.”

MIC is formed through the merger of TonkaBI, STP Insurance Services, and MicroEnsure which brings together resources, expertise and skills in underwriting, technology and distribution. Whereas most Insurtechs seek to improve existing monoline products and markets, we follow the concept of straight through processing to create highly relevant insurance products and to offer them globally and very low cost so that we can support people in their local communities.

Richard Leftley, founder of MicroEnsure, said

“Today marks a new chapter for MicroEnsure, as the first dedicated micro insurance pioneer we needed to take on the role of underwriting; we have found the right partners to create, sell and service our own products globally and at a massive scale. We look forward with great excitement to working together to enhance lives of people globally.”

About Us

Micro Insurance Company (MIC Global)

The insurance industry has historically encouraged and protected socio-economic progress, but people and businesses are still desperately seeking workable solutions to their problems and many are left unserved. Global insurtech MIC Global was formed to address this large market globally and focuses on the unserved population and businesses of the world by providing an insurance platform that is capable of assuming various types of micro transactional insurance risk covering GIG Workers, IoT, Sharing Economy, Micro/Small Businesses and Weather, all managed through technology and delivered at low cost by using the principles of straight through processing. www.micglobal.com

TonkaBI

TonkaBI specialises in transforming the way you look at data by applying a data driven business intelligence approach. Our focus is to work with businesses who want to be data driven in this new area of insurance and technology. At our heart, TonkaBI is software development company that specialises in strategic development with a strong focus on AI, Computer Vision and RPA. TonkaBI enjoys helping our partners transform their businesses into digital platforms and solving their problems for better performance and higher growth. www.tonkabi.com

MicroEnsure

MicroEnsure is a pioneer in providing insurance to emerging consumers starting in 2002 within the microfinance community it rapidly grew to be the industry’s leading innovator being first to market with weather index insurance, using mobile networks to distribute insurance and creating over 200 products aimed at low income families. It has served over 65 million people by partnering with a range of MFIs, Banks, mobile networks and ride hailing companies across Africa and Asia.

MEDIA CONTACTS

EST time zone – Harry Croydon CEO harry.croydon@microinsurance.com

GMT time zone – Richard Leftley EVP International richard.leftley@microensure.com