Welcome to the MicroInsurance Centre, LLC.

We are a consulting firm dedicated to generating access to valuable microinsurance products for 3 billion low-income people across the globe.

We accomplish this by working with regulated insurers and appropriate delivery channels, who efficiently provide simple, market responsive microinsurance products. Our clients include commercial insurers, foundations, bi- and multi-lateral development agencies, regulators, NGOs and others. These organizations work with us to ensure the best potential for success with their microinsurance activities. Our work with clients includes various aspects of microinsurance from product development and training to research and advocacy. Our team has implemented microinsurance activities in over 60 countries over the last sixteen years. If you’d like to learn more about what we do visit the About Us section.

MILK Tour so far a huge success; one stop left in Bogotá, Colombia!

With well-attended events in Frankfurt, Luxembourg, Munich, Manila, Miami, Dar es Salaam, Singapore, Johannesburg, Abuja and Lagos the MILK tour has been incredibly well-received. Participants have been impressed by the material, calling it an “eye opener” and "inspiring." The event focuses the key issues of client value and business case in microinsurance, and the balance of these two sometimes conflicting goals. Drawing on three years of research with dozens of microinsurance programs across the globe, key members of the MicroInsurance Centre’s Microinsurance Learning & Knowledge (MILK) Project team are presenting the key insights and lessons learned for insurers, distributors, and intermediaries. You may also review some interesting articles printed in response to the MILK presentations.  Click on the links below-

NAICOM to restructure compulsory insurance scheme  (in English)

Mikropolicen: Nachhaltigeres Geschäftsmodell gefordert  (in German)

Claims processing time critical to microinsurance success, stakeholders say (in English)

NAICOM Set To Reform Nigerian Insurance Policy (in English)

ALSO the MicroInsurance Centre is thrilled and honored to see that the Nigeria National Insurance Commission is using the MicroInsurance Centre's well known SUAVE approach to microinsurance products. See page 3 of the below document link-

NAICOM-Guidelines for Microinsurance in Nigeria  

MILK TOUR BUZZ CONTINUES......see Michael McCord quoted in the latest edition of Global Envision....click the link to see the article in its entirety......


Coping with Financial Shocks, Insurance is one Tool of Many
Click here to follow this exciting blog post by Emily Zimmerman which is part of the series, Microinsurance Lessons from the MILK Project. Co-written with Barbara Magnoni and Laura Budzyna, the blog post expands on client value dicussions.

 *See exciting reactions from some of the attendees below**

"Two thumbs up for the MILK project! The MILK summary 'Beyond the Actuary's guess' is a must-read. If the MILK tour comes to your town, go out and watch it." -Martin Hintz, Microinsurance Expert and Project Manager, Allianz SE


“I am very impressed by the scope and level of detail of MILK’s research and conclusions. This takes our understanding of microinsurance a great leap forward and will be very useful for future work on microinsurance.”  Thomas Wiechers, Advisor (Insurance Markets) Project „Making Finance Work for Africa“ (MFW4A), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH


“The results of the MILK-project help to better understand the (financial) risk management of the poor and what role insurance can and cannot play to improve those. It clearly shows the benefit of microinsurance but also how important it is to understand the client. The MILK Briefs are a “Must-read” for every microinsurance practitioner and should become part of any future microinsurance curriculum” -Dirk Reinhard, Vice Chairman, Munich Re Foundation

"I really appreciate your efforts to provide us with this training on MILK. The knowledge I acquired from your work will provide me with a better approach to my clients." -Eric Oba, Keystone Banking

 "I found the presentation quite insightful as it was refreshing to hear and review facts from other microinsurance markets across the globe.  I see us going back to the drawing board on some projects at hand based on the additional information from the session."  -Talbi D. Olatayo, Travel and Retail, Zenith General Insurance

“Michael and Rick painstakingly took us through the “ins and outs” of the microinsurance industry across the globe, they were patient and answered all of our questions. The real life case studies helped us to better understand the data and extrapolate the findings to the Nigerian environment. The session was insightful and relatable to our local environment.”  -Isioma Olowu, Product Development, Zenith Insurance

My take home for yesterday's MILK session is that having the fore knowledge that "Nigerian insurance buyers are both "price and trust" sensitive. We need to be innovative in identifying some channels that will help customers to begin discovering the "value" to buy the insurance on their own. The future of insurance in Nigeria lies with S.U.A.V.E. Microinsurance" -Leo Akah,Deputy Director of the National Insurance Commission,NAICOM

"The researchers are obviously passionate about their topic and shared a great deal of that passion with us. The messages delivered by their work were an eye opener; microinsurance may be maturing as a business model, but there is so much still left to do for it to become an actual service!" -Alexia Hetzel, Project Officer, Communications and Knowledge Management, ADA

"The Milk class is a true tour-de-force. Years of research and learnings packed into a couple of engaging hours with such precision that you don’t get lost in the wealth of insights, and which incidentally will trigger some paradigms to shift!" -Veronique Faber, Executive Director, the Microinsurance Network

"The 15 MILK case studies provide excellent evidence and close the gap between ‘anecdotal assumptions’ and hard facts, even if some results may have been already anticipated."-Gaby Ramm, Independent Microinsurance Consultant

 “Thought-provoking, engaging and very insightful: The MILK workshop on the magical balance between client value and business case is definitely worth attending by anyone with an interest in microinsurance”  -Annalisa Bianchessi, Communications Coordinator, Microinsurance Network 

“Thanks for the great presentation -Alex Nisichenko, Investment Officer, LeapFrog Investments

 "For me it was a very educative session in the ‎sense that, it made me appreciate the different types of products and operation around the world.  Most importantly, to have the team present to answer questions was great.  It also brought into light, the real benefits of the products we offer to the clients- whether it meets their needs or not.  ‎For me, what I learnt from the presentation was that the success of a microinsurance operation does not only depend on the CreditLife products, but on diverse distribution channel and innovative products that will meet the needs of the low income earner."-Afua Boahemaa Donkor, Executive Director, Star Microinsurance 

Thank you so much for the presentation today, it was informative and edifying.“-Bolorunduro Joshua Segun, NIGERIAN INSURERS ASSOCIATION

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Pictured above, Rick Koven, Michael J. McCord and Barbara Magnoni presenting MILK in Abuja, Nigeria, Dar es Salaam, Tanzania and Frankfurt, Germany

Watch for details on our upcoming MILK presentation in Bogotá, Colombia - We'd love to see you there!


Recent Events

MIC President McCord hosts breakout session on microinsurance in Amman, Jordan

Michael J. McCord recently hosted a breakout session at the Women's World Banking conference Building Women-Focused Finance: The Global-Local Experience. The conference, which took place November 19-20, 2013, focused on women's financial inclusion in the Middle East and North Africa. McCord's presentation, titled Microinsurance Trends and Issues, gave an overview of the global microinsurance market, including what drives growth, the evolution of microinsurance products, and current trends in the field. Check out the slides from his presentation here and photos from McCord's session and the rest of the conference here


MILK well-represented in Jakarta

jakarta 1The Microinsurance Centre's MILK project was well represented at the 9th Annual International Microinsurance Conference, which took place November 12th - 14th in Jakarta. Lessons from client value and business case studies were presented during six different sessions over the course of the three day event.  

Barbara Magnoni kicked things off for MILK during the first parallel session on health with her presentation on Comprehensive vs. sliced health microinsurance: the value of subsidy. Meanwhile, Jonathan Bauchet presented the findings from MILK's randomized control trial in his presentation Price, information, and demand for life microinsurance: and experiment in Mexico. Addtionally, in the parellel session that focused on life microinsurance, Barabara took the stage again with her presentation on The value of claims speed in microinsurance: not always what we think.

From the business case side, Rick Koven presented Business case for health microinsurance: examples from Kenya and India, while Clemence Tatin-Jaleran presented Catastrophe microinsurance: is there a business case?

In the conference exhibition area, MILK released its new publication, Beyond the Actuary's Guess, which discusses the combined lessons from 15 client math studies regarding the client value of microinsurance.

Michael J. McCord and Craig Churchill wrapped up the conference with an epic presentation in the final plenary session: The magical balance. They provided 'Top 5' lessons regarding both business case and client value, based on the combined learnings of the MILK project and the activities of the ILO's Microinsurance Innovation Facility. They concluded with examples of institutions and programs that are striving to find a balance between these objectives, showing that focusing on one doesn't mean a tradeoff with the other, but that there can be synergies between the two. 


Presentations from the 2013 Asia Distribution Conference 

The Conference was held from the 20-21 November 2013 at the Renaissance Kuala Lumpur Hotel

Kuala Lumpur, Malaysia

Asia Distribution Conference Presentations -click here to view-

The conference examined global and regional issues. Attendees gained invaluable information in key strategic areas driving market success. Additionally, attendees had a unique opportunity to meet with peers, industry analysts, and regulators to gain their perspectives on what it takes to succeed in today's business environment.

Michael J. McCord speaks at Foromic Forito to mark the release of the Landscape of Microinsurance in Latin America and the Caribbean




Key microinsurance industry stakeholders recently gathered at the "Microinsurance Learning Sessions: Latin America and the Caribbean," held in Guadalajara, Mexico, prior to the XVI Foromic. MicroInsurance Centre president Michael J. McCord gave the key note address at the event, during which he discussed the gaps and opportunties identified by the recent Landscape of Microinsurance in Latin America and the Caribbean study. The landscape study was conducted by the the MicroInsurance Centre for the Inter-American Development Bank's Multilateral Investment Fund, with support from Citi Foundation and the Munich Re Foundation. Watch the presentation, download the full study for use in your own organization, and explore and download country-level data in the interactive maps.









The March 2014 edition of Enterprise Development and Microfinance in now online. This issue includes articles written by our very own Michael J. McCord, Barbara Magnoni, Katie Biese and Emily Zimmerman. The focus of this edition is microinsurance. For all of the exciting details click here.

Is there a business case for microinsurance intermediaries? MILK interviewed management of 4 intermediaries and reviewed 5 years of data; get the analysis and conclusions here.

Deflating the Promise of Using Remittances to Cope with Financial Shocks - read the new post by MILK's Barbara Magnoni on the Financial Access Initiative's blog

MILK is on tour! Get the key insights and lessons learned from the multi-year project at one of 2 remaining sessions in Nigeria (see homepage for details).  

Balancing business case and client value: MILK took a detailed look at business case and client value in health microinsurance in Kenya. Read the full publication, or get an overview in Rick Koven's post on the Center for Financial Inclusion's blog!

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The MicroInsurance Centre is the recipient of the 2012 Insurance Organization Award from the Midwest Insurance Innovation and Leadership Awards and Hall of Fame sponsored by the Katie School of Insurance at Illinois State University.

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The MicroInsurance Centre works closely with the following partners.

MIIF    MFN  WWB Primary Vertical RGB

Quote of the Day

"I was stranded in New York City during the 2003 blackout, and for the next two years, I carried a small flashlight in my backpack. The flashlight did not cost much, but its potential to help in another blackout was obvious and to use it I needed only to press a button. For microinsurance to be accepted on a massive scale, it cannot cost much, its value must be obvious, and it must be simple to use." -- Brandon Matthews | Head of Microinsurance, Zurich Financial Services