MicroInsurance Centre (MIC) has joined global consulting and actuarial firm, Milliman, in a move to accelerate and expand the firms’ microinsurance reach and capabilities.
The transaction aims to accelerate MIC’s progress towards the goal of generating access to microinsurance products for 3 billion low-income people globally, and expands Milliman’s capacity for clients from emerging markets or low-income market segments.
Milliman Chief Executive Officer (CEO), Steve White, said; “The MicroInsurance Centre is a remarkable organization with a deep commitment to building sustainable microinsurance products for populations in need.
“The MIC’s pedigree of deep expertise, its independence, and its ability to deliver research and education around microinsurance pair perfectly with Milliman’s values and global footprint. We look forward to working with the MIC in support of its bold vision.”
MIC President, Michael McCord, added; “Milliman is a perfect fit for us given its mission, skills, and great reputation. Milliman’s interest in helping its clients expand throughout the emerging markets, where the bulk of insurance growth will arise, was an obvious fit as we looked to expand our vision of keeping people from sliding back into poverty.”
“The synergy arises from Milliman’s global reach and commitment to the health and financial well-being of people everywhere, coupled with the MIC’s experience in providing value to low-income clients and business cases for insurers in over 75 countries.”