View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 10, 2020

STP Group, MicroEnsure , TonkaBI merger to offer micro insurance solution

By Verdict Staff

STP Group has merged with MicroEnsure and TonkaBI to offer micro insurance to internet platforms, micro and small businesses and individuals worldwide.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The unified entity began operations under the name The Micro Insurance Company.

The new company leveragesTonkaBI, STP Insurance Services, and MicroEnsure’s resources, expertise, and skills in underwriting, technology and distribution.

It combines reinsurance capacity, in-country insurance licenses, distribution and artificial intelligence functionality to offer end-to-end digital micro insurance solution.

The Micro Insurance Company said it aims to create ‘highly relevant’ insurance products at a very low cost to support people in their local communities around the world.

STP Group founder and The Micro Insurance CompanyCEOHarry Croydon said: “After years of market development, it is only now that the necessary technology has been developed so that we can offer complete micro insurance products to the unserved. We provide people with a simple safety net, so when the unexpected happens, they can bounce back swiftly.”

MicroEnsure pioneered micro insurance for emerging consumers in 2002. The company is said to be the first to weather index insurance and using mobile networks to distribute insurance.

It is said to have created 200 products for low-income families in partnership with a range of MFIs, banks, mobile networks and ride-hailing companies across Africa and Asia.

MicroEnsure founder and The Micro Insurance CorporationEVPRichard Leftley said: “Today begins an important new chapter for MicroEnsure.

“As the first dedicated micro insurance pioneer we needed to take on the role of underwriting have found the right partners to create, sell and service our own products globally and at a massive scale. We look forward with great excitement to working together to enhance lives of people globally.”

TonkaBI specialises in building software focusing on AI, computer vision and robotic process automation. It helps its partners transform their businesses into digital platforms.

 

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International