MicroInsurance Services Wins BimaLab Africa's Excellence Award for Advancing Microinsurance Accessibility
MicroInsurance Services Limited (MIS) has been awarded the prestigious "Excellence in Advancing Microinsurance Accessibility" at the BimaLab Africa Accelerator Programme 2024. This recognition highlights MIS's impactful work in making insurance accessible to underserved communities, focusing on rural populations in Malawi. MIS's innovative solutions address the challenges of limited access to affordable healthcare and financial security, providing life-changing insurance products that integrate seamlessly with microfinance. BimaLab Africa, an initiative powered by FSD Africa and ACAPS, focuses on accelerating innovation in insurance and financial inclusion across Africa. The program provides mentorship and funding to startups that tackle key challenges in underserved markets. MIS’s grant acknowledges its work in expanding affordable, accessible microinsurance, with a focus on healthcare for rural populations in Malawi.
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Catapult: Inclusion Africa Crowns MicroInsurance Services as Winner for Financial Inclusion Innovation
MicroInsurance Services Limited (MIS) won the 7th edition of Catapult: Inclusion Africa, a program designed to support startups working on financial inclusion across Africa. Led by Gift Livata, MIS stood out for its commitment to improving healthcare access through affordable insurance solutions. The win reinforces the company's dedication to tackling financial barriers in underserved communities in Malawi, enabling greater access to healthcare and fostering long-term resilience. This victory marks a significant milestone in MIS's mission to transform insurance access for low-income households. Hosted by The LHoFT (Luxembourg House of Financial Technology), this accelerator empowers startups with mentorship and funding to drive inclusive finance solutions. MIS was recognized for its innovative approach to providing affordable healthcare insurance to low-income households in Malawi. Winning the competition validates MIS’s role in shaping the future of accessible financial solutions for vulnerable communities in Malawi and Africa as a whole.
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Microinsurance now in Blantyre
Microinsurance is proud to announce that as of 1st March 2024 it has officially opened a Service Center in Blantyre. Microinsurance offices in Blantyre are located at Bizo’s Centre along M1 Road, in Lunzu. The postal address is P.O. Box 31492, Blantyre. The offices are open Monday to Friday from 8 o’clock in the morning to 5 o’clock in the evening. Microinsurance offers different products to cater to your insurance needs. For your health insurance needs, Microinsurance offers products like Abwenzi Rural Health Insurance, Credit Health, HospiCash, and Personal Accidents. We also offer crop insurance (Weather Index, Mzati Crop Insurance and Area Yield), and general Insurance, (Property, Business Catastrophe and Motor Vehicle Insurance) just to mention a few. All these products are catered according to the customer’s needs and desires and most importantly their budget.
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Microinsurance receives two awards at CIC Insurance Awards
We are only 3 months into the year 2024 and Microinsurance is already checking goals off their 2024 resolutions list as they have won two awards last week. CIC Insurance organized an award ceremony on Thursday the 14th of March, where some companies were recognized and awarded. Microinsurance placed third and fourth, they were awarded for being Most Innovative and Inclusive Broker and for Broker with Lowest Debt Ratio. These awards simply prove that Microinsurance is living up to their motto (Imagine Unlimited Possibilities), core values (Innovation, Customer Delight, Reliability, Integrity and Teamwork), mission statement (“Reaching out to the mass market with innovative and affordable insurance products”) and vision (“To be the most innovative and leading microinsurance provider in Malawi”). Congratulations to the Microinsurance Team!
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Abwenzi Health Insurance Service
One of the country's microfinance institutions, Vision Fund, in partnership with Microinsurance Services Limited, on Monday launched the Abwenzi Health Insurance Service. Vision Fund Chief Executive Officer Theodora Ntaba said, through Abwenzi, the policy holder will be able to enjoy hospitalisation benefits from the first day of overnight admission, SMS a Doctor Service, with a maximum of 48 hours' claims processing and cash paid direct to clients through mobile money. Ntaba said following the launch, the product is now accessible in all Vision Fund branches across 23 districts in the country. Vision Fund Board Chairperson Jeremy Banda said his organisation observed that the landscape in Malawi excluded a large population. Banda said Vision Fund has taken it upon itself to ensure that those people it is working with are enjoying insurance. Reported by Times 360 Malawi.
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