microinsurance News

Microinsurer BIMA Aims to Close Developing Nations’ Protection Gap with Life & Health Cover

The insurance protection gap in developing nations is being filled by a growing group of microinsurers, which provide coverage that ranges from life and health insurance, to crop insurance, to property protection after natural disasters. It is all aimed to …

Allianz Invests $96.6M in Digital Microinsurer BIMA

Allianz X, the digital investment unit of the Allianz Group, announced a $96.6 million investment in BIMA, the digital microinsurer. Stockholm-based BIMA uses mobile technology to serve low-income customers in Africa, Asia and Latin America. With its investment, Allianz becomes …

The Nature Conservancy, Blue Marble Offer Microinsurance for LatAm Ranchers

The Nature Conservancy (TNC) and Blue Marble Microinsurance announced they have formed a partnership designed to provide microinsurance for small ranchers in Latin America who use a weather-resilient practice called “silvopasture.” Silvopastoral farming is the practice of combining trees with …

Insurtech Microinsurance Specialist, BIMA, Gets $16.8M Investment

BIMA, the insurtech firm that offers microinsurance in emerging markets, announced the close of an investment of US$16.8 million by Axiata Digital, the digital services arm of Axiata Group Berhad, one of Asia’s largest telecommunications groups. Axiata Group Berhad (Axiata) …

Re/Insurers Can Help Bridge Protection Gap with Technology: GA Report

Digital technologies can be harnessed by the re/insurance industry to narrow insurance protection gaps in developing and emerging markets, thereby improving societal resilience after natural disasters, according to a report published by the Geneva Association. However, the protection gap problem …

Oklahoma Commissioner Touts Microinsurance, Other Ideas for Health Law Reform

Oklahoma Insurance Commissioner John D. Doak says microinsurance, the ability to sell health coverage across state lines and increased use of health savings accounts are ideas that should be looked at as lawmakers move forward with the repeal of the …

XL Catlin Invests $4M in Insurtech Microinsurance Startup, Stonestep

XL Catlin’s venture fund, XL Innovate, committed $4 million in first-round financing to Stonestep, a property/casualty insurtech startup looking to streamline how microinsurance is sold in emerging markets. The Series A funding is designed to help Stonestep grow in the …

Microinsurance in Rapid Expansion Says ILO, Munich Re Report

According to the Microinsurance Innovation Facility of the International Labor Organization and the Munich Re Foundation, “the number of microinsurance schemes worldwide has increased substantially over the past five years and now reaches an estimated 500 million worldwide.” Microinsurance has …

Swiss Re Policies Help Cholera Victims in Haiti, Poor Farmers in Africa

Global reinsurer Swiss Re is introducing business interruption coverage in case of cholera outbreaks for women entrepreneurs in Haiti. Swiss Re, together with Mercy Corps and Fonkoze, the largest microfinance organization in Haiti, are introducing a new cholera insurance program. …

Swiss Re to Reinsure Ethiopian Microinsurance Project

Swiss Re is to reinsure a five-year project that provides drought insurance for crops in Ethiopia, in a microinsurance program developed by the World Food Program (WFP) and Oxfam America. The world’s biggest reinsurer will commit $1.25 million to the …