NEW YORK, Oct. 20, 2021 (GLOBE NEWSWIRE) — MicroEnsure – now part of Micro Insurance Company (MIC) – has entered into a strategic partnership with Nairobi-based insurance platform Chamasure to give communities across Kenya access to digital insurance solutions. Chamasure makes insurance affordable for more than 10 million people in underserved communities in Kenya, including groups of farmers, traders, and families. Groups sign up via an easy-to-use app and are offered customized, flexible cover.
The new partnership between Chamasure and MIC will provide end-to-end enrollment, coverage, and claims settlement support, reducing paperwork for customers and speeding up the insurance process. Need-based cover will safeguard group members against disability, funeral costs, and medical expenses.
Ms Wairimu Nioki, Country Manager for MIC Kenya says:
“Communities have always come together to raise money to meet obligations that are too difficult for individuals to cover. We are now going to these communities and groups to simplify insurance for them by providing the protection that they seek when they come together. This initiative with Chamasure will see us providing more affordable insurance solutions and wider coverage, providing relief to members of these groups and consequently improving their lives.”
Speaking at the launch of the partnership, Seroney Memba, Chamasure Founder, said:
“Most of the people in the communities we work with have never had a chance to access insurance, despite being so vulnerable and in need of protection. We are excited to partner with Micro Insurance Company to provide these communities with more flexible, affordable products. Our motto is ‘taste insurance for everyone’, and I strongly believe this is the right partnership to achieve this.”
About Micro Insurance Company (MIC):
Micro Insurance Company (MIC) is the world’s first end-to-end digital microinsurance platform that combines reinsurance capacity, in-country insurance licenses, world-class distribution, and market-leading AI functionality. Our global insurance platform delivers technology,underwriting, policy management, and distribution to platforms, micro and small businesses, and to the four billion people on the planet who are currently unserved. Whereas most insurtechs seek to improve existing monoline products and markets, we follow straight through processing to create highly relevant insurance products at a very low cost.
To find out more, visit https://microinsurance.com/
Chamasure, based in Nairobi, is an insurance platform that focuses on helping underserved communities, such as groups of traders and farmers, access affordable, customized insurance. Benefits include easy set-up, fast claims processing and payment, seamless mobile payments, and 24/7 app support. Groups who sign up to Chamasure have control of the full insurance process, from onboarding and peer vetting, to voting on claim validity and knowing when claims are paid.
To find out more, visit https://www.chamasure.com/