MicroEnsure reaches 10 million enrolled clients

JULY 1,2014.

PRESS RELEASE.

Leading global microinsurance specialist MicroEnsure today announces that it now serves more than 10 million enrolled clients.

In the past six months, the company has more than doubled the number of clients reached through key partnerships with mobile network operators, microfinance providers and banks in Africa and Asia. Critical to the growth has been its partnerships with mobile networks including Telenor in Asia and Airtel in Africa.

In Bangladesh, MicroEnsure has enrolled over one million clients in 30 days through ‘Nirvoy’ in partnership with Grameenphone; a free life insurance product that now has more than two million actively enrolled subscribers.

In Ghana, MicroEnsure has doubled the number of clients served to reach more than half a million people in the past month in partnership with Airtel Ghana. The “Three-for-Free” product provides a free life, accident, and hospital cash product to Airtel subscribers that spend more than approximately $2 per month on airtime.

Commenting on reaching this latest milestone, MicroEnsure Chief Executive Officer Richard Leftley said, “over the last twelve years the MicroEnsure team has consistently been an innovative thought leader, and in the process learnt a great deal. This track record combined with the recent investment is resulting in a significant and sustained growth in the number of people that have access to insurance for the first time.”

MicroEnsure Chief Operating Officer Martin Fuller additionally commented, “we are very excited and pleased to be serving so many people who otherwise would not have access to affordable insurance products.

Whilst much of the recent growth has been through mobile network operators, we remain committed to serving our clients through a range of distribution partners in order to expand access to as many different groups of people as possible.” One recent example of this expansion occurred in June with the launch of Sehat Khushhali Plus by Pakistan’s largest microfinance bank, Khushhalibank in partnership with MicroEnsure Pakistan and Jubilee Life Insurance Company. Sehat Khushhali Plus is an innovative health insurance product that provides a financial benefit which can be used by the clients for meeting expenses incurred on hospitalization treatment.