Celent has named the Microinsurance Catastrophe Risk Organisation (MiCRO) as Model Insurer of the Year for 2018.
The Microinsurance Catastrophe Risk Organisation is a specialty reinsurer which develops and implements insurance solutions for vulnerable populations. Its proposition targets a unique set of customers in a specific region. However, the challenges they faced are applicable to any insurer that seeks to introduce a nontraditional product into a new market and faces the challenge of educating partners, consumers, and regulators.
MiCRO’s approach has two major components, an index-based, microinsurance product that operates with a proprietary technology platform which registers triggering events and issues loss reports, and a value-added program that includes a financial education program and is designed to make low-income entrepreneurs more resilient and competitive and to improve their standard of living.
Celent is honored to recognize MiCRO with the 2018 Celent Model Insurer of the Year Award for their success in delivering a creative solution to an underserved group.
