An
Opportunity International Company |
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| On a daily basis, the poor around the world face a multitude of risks that threaten to derail any progress they have made to work their way out of poverty. The death of a family member, loss of property and livestock, illness, and natural disasters each pose unique dangers. Protecting people against these losses is an important step to alleviating global poverty.
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Innovation |
| In 2005, the Micro Insurance Agency
began working with the World Bank to develop weather-indexed
crop insurance for smallholder farmers in Malawi. Research findings
revealed that most farmers could not get agricultural funding
from local banks because of the high risk of crop failure due
to flooding and drought and their subsequent default. However,
some banks were willing to lend if the weather risk could be
reduced. |
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| Welcome
to Micro Insurance Agency |
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The World's First and Only Insurance Intermediary
for the Poor
The Micro Insurance Agency is an insurance intermediary
dedicated to serving poor households with an affordable
and suitable range of insurance products. We seek
to work in partnership with organizations that are
currently serving the poor, the informal sector, and
the currently unserved mass market such as microfinance
organizations, rural banks and SACCO’s, as well
as humanitarian organizations that are providing non-financial
services. In addition, we serve other social aggregators
such as trade unions, professional associations, and
faith-based networks. We currently serve approximately 3,250,000 people around the world.
As a micro insurance intermediary, Micro Insurance
Agency fills the distribution gap between insurance
companies and a currently unserved market. By acting
as an intermediary, Micro Insurance Agency is well-positioned
to extend insurance coverage effectively and efficiently,
designing scalable, simple, and understandable products.
Our extensive market research and insurance expertise
ensures that products are designed so that they are
affordable for clients and sustainable for distributors
and insurance companies. In addition to product design,
Micro Insurance Agency provides back-office administration
of products – a crucial service for providing
professional and cost-effective insurance products
alongside existing product offerings. We utilise our
in-house computer software to track details of clients
covered, collect premiums and administer claims.
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About
Micro Insurance |
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Where
We Are |
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| The Micro
Insurance Agency has its roots within Opportunity
International, a large Christian microfinance network serving
the entrepreneurial poor of all faiths and none since 1971. |
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