by Jessica McLeod -

MICROCAPITAL BRIEF: MicroEnsure, STP, TonkaBI Merge into “MicroInsurance Company,” Leveraging Straight-through Processing, Artificial Intelligence to Expand Access

Seeking to expand access to microinsurance for both individuals and businesses, UK-based companies MicroEnsure and TonkaBI along with the US-based STP Group recently merged to form the MicroInsurance Company (MIC). The new firm describes itself as “the first global end-to-end digital micro insurance solution,” benefitting from the three firms’ “reinsurance capacity, in-country insurance licenses, world-class distribution and market-leading artificial intelligence functionality.” STP Group brings the new company its straight-through processing (STP) methodology, which

by Paul Kim -

MICROCAPITAL BRIEF: International Finance Corporation (IFC) Expands Microinsurance in Kenya and Rwanda through Syngenta, International Livestock Research Institute, MicroEnsure

Recently, the International Finance Corporation (IFC), an organization under the World Bank Group that has been a significant source of financing for the microfinance industry, agreed to confer to three microinsurance projects in East Africa a grant of USD 4.1 million, which is expected to allow 35,000 farmers and 5,000 livestock herders in Rwanda and Kenya to protect their crops and livestock from natural disasters.