Technology
Reducing the Cost of MicroInsurance
One of the key challenges in providing affordable microinsurance to the poor is keeping transaction costs low. High transaction costs can easily make microinsurance products unaffordable to the mass market in the developing world.
Reducing the transaction cost of insurance is made possible through the use of our in-house computer system called AMARA.
AMARA is built on technology supplied by Temenos, one of the world's leading suppliers of technology to the financial services sector and has been specifically built and tailored to the needs of processing large volumes of policy and claim information whilst keeping overheads to a minimum.
We are constantly expanding our system functionality. We have partnered with Idiom Software to greatly enhance our capabilities by building their innovative and award winning "business decision" software into the heart of our product configuration engine. This allows us to bring new products to market even faster, and ensure they remain tightly tailored to the needs of the poor.
The ability to provide technology-driven solutions to achieving low-cost microinsurance products encourages insurance companies into the market, which in turn leads to scale and sustainability for both insurer and insured.
Over Half a Million Lives Covered in Tanzania
MicroEnsure has experienced remarkable growth in Tanzania and now covers a landmark 600,000 lives in the country.
Credit Health Launches in Ghana
MicroEnsure Ghana is launching credit health insurance to further support microfinance clients in West Africa.
MicroEnsure Philippines Responds to Victims of Typhoon Sendong
With around 20 tropical storms or typhoons a year the threat of natural calamities is constant in the Philippines.
Scaling Up Weather Index Microinsurance
IFC support for MicroEnsure’s weather index insurance in Tanzania demonstrates the viability of scaling up weather index microinsurance.
