Founded in 2000 by Michael J. McCord as an initiative of MicroSave, the MicroInsurance Centre has worked with many organizations to spread microinsurance helping to cover tens of millions of lives with various types of microinsurance products. We focus on promoting responsible microinsurance (quality products that are financially sustainable), because without responsible products and policies microinsurance will be ineffective at addressing the needs of the poor and will not satisfy a business case in the long term.
To facilitate responsible microinsurance, the MicroInsurance Centre actively promotes the partnership model of microinsurance and is the only independent institution that is entirely focused on doing so. We encourage this model because by partnering institutions such as MFIs with regulated insurance companies, we can take advantage of the parties' relative strenghts. The MFI can access the low-income market and deliver products more efficiently and effectively than the insurer, and the regulated insuere has expertise in insurance products and capacity to carry the risk. Our efforts to facilitate such partnerships are creating win-win-win solutions for insurers, delivery channels, and the low-income market.
Our mission is to get SUAVE (simple, understood, accessible, valuable, and efficient) microinsurance products in the hands of 3 billion people across the globe.