M I C R O E N S U R E
verification and claim payment process is quick and straightforward. “The name Protection Plus was chosen to signify the security that will be provided to customers but that also stands for the innovative use of advanced technology which together deliver a fresh look at banking for the people of Bangladesh. “This is just the beginning for MicroEnsure and we have plans already in place to work with many of the other banks that ITCL operates with and to introduce innovative services to the market in Bangladesh.”
justified through the uptake in each new country of operation. “We opened in India and added 25 million new registered customers, more than doubling our outreach over the year before,” Gross emphasises. “The developments in India and Bangladesh have been pivotal in driving our success in 2016 and they are definitely helping to structure our thinking and planning
Kenya and beyond
Setting out to establish itself in strategic growth markets such as India and Bangladesh, the development of new innovations to help end customers has been a successful model adopted by the business ever since its inception in 2008, and is being
In Africa, much of MicroEnsure’s efforts have gone into the pilot of Fearless Health
116
WWW.AFRICAOUTLOOKMAG.COM
moving into 2017.” In Africa, much of MicroEnsure’s efforts have gone into its Fearless Health pilot, developing significant new capabilities that the Company believes will lead to stronger and more sustainable long-term results. Gross adds: “We’ve become a digital lender, have developed a B2C distribution channel, and have pioneered a low-cost on-demand product that doesn’t require monthly premiums but does provide lowincome customers with access to high quality healthcare whenever they need it. In this way we’re taking the best part of insurance (access to healthcare) and eliminating the worst part (endless monthly premiums which are very difficult for mass-market consumers to pay each month). “If our pilot is successful, we will scale up this product in Kenya and beyond in 2017.”