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Campaign Commitment from MicroEnsure will broaden reach of microinsurance to 10 million

Summary: The Microcredit Summit Campaign welcomes MicroEnsure as the newest Campaign Commitment member, joining a global coalition to help 100 million families lift themselves out of extreme poverty.

 

 

Washington, DC – The Microcredit Summit Campaign welcomes MicroEnsure as the newest Campaign Commitment member, joining a global coalition of organizations committed to specific, measurable, and time-bound actions to advance the Campaign’s goal of helping 100 million families lift themselves out of poverty.

MicroEnsure was founded in 2005 to facilitate the provision of microinsurance options for the poor in developing countries. Typically middle to upper-income consumers can afford insurance products they need to protect themselves against risk. The poor however are often unable to afford insurance to mitigate health and agricultural risk. Utilizing its broad reach, MicroEnsure bridges the disparity between the need for insurance for the poor and the lack of affordable options. MicroEnsure products include: life insurance, health insurance, disability insurance, agricultural insurance, property insurance, political violence insurance and weather index insurance.

Working to broaden the reach of microinsurance, MicroEnsure has announced its Campaign Commitment as follows:

  • MicroEnsure commits to reach 10 million clients with insurance services by the end of the first quarter of 2015.
  • MicroEnsure commits to expand its current reach into 15 countries by launching work in 5 new countries by the end of the first quarter of 2015.

“MicroEnsure is proud to provide a safety net to millions of families across Africa and Asia; we are delighted to have partnered with so many microfinance providers and more recently with the mobile networks. Our partnership with the Microcredit Summit Campaign will help us as we grow to serve in excess of 10 million clients with innovative microinsurance products” said Richard Leftley, CEO of MicroEnsure.

The Campaign looks forward to welcoming this new partner in the global coalition and sharing their progress towards the Commitment achievement at the 17th Microcredit Summit. This year's Summit will be held in Merida, Mexico in partnership with the Ministry of Economy (Mexico) and its National Microentrepreneur Financing Program (PRONAFIM) and will focus on the theme of "Generation Next: Innovations in Microfinance."

Read the MicroEnsure Commitment letter.

For more information on Commitments and the 100 Million Project, visit www.microcreditsummit.org or write to mycommitment@microcreditsummit.org

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The Microcredit Summit Campaign (the "Campaign"), a project of RESULTS Educational Fund, is the largest global network of institutions and individuals involved in microfinance and is committed to two important goals: 1) reaching 175 million of the world’s poorest families with microfinance and 2) helping 100 million families lift themselves out of extreme poverty. The 100 Million Project (focused on Goal 2) was launched in response to World Bank President Jim Yong Kim’s call to end extreme poverty by 2030 and in recognition that full financial inclusion can only be achieved by targeting the extreme poor.  The coalition of Campaign members announcing Commitments is aimed at motivating microfinance stakeholders to provide products and services that reach the extreme poor and facilitate their movement out of poverty.


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