Micro Insurance Academy, a nonprofit that operates in countries such as Nepal, India and Bangladesh, has spent many years working to improve health conditions by implementing health insurance programs in underdeveloped communities.
Established in 2007 as a charitable trust in New Delhi, India to aid the development of micro-insurance, their programs assist families when disaster strikes, such as when a crop fails or a family member passes away. In 2011, to accommodate their growing business, they opened an office in Bonn, Germany and expanded their reach to multiple parts of the world, including communities in India and Africa.
Their main goal is to reduce the impact of unexpected illnesses, accidents, crop failure, livestock loss, natural disasters and death. Health insurance helps to provide certainty by offering a backup plan in case the worst happens.
Since their creation, Micro Insurance Academy has helped up to 45,000 people per year. In 2014, their most recent report, they assisted nearly 15,000 households, had approximately 12,000 people receive their claims and in total, since the beginning, had 20,927,590 people repay their claims.
Micro Insurance Academy is comprised of 40 employees who are research, training and development experts, making them the largest micro-insurance resource center in the world.
To implement their projects, Micro Insurance Academy partners with local organizations to lay down a steady foundation in the community they are working in. While working with these partners, they train them in safe and efficient micro-insurance practices.
A large part of their program consists of research. Their research finds answers to questions such as what techniques will benefit a specific community more and what challenges are being faced by people in subsistent marketplaces.
In addition to these programs, Micro Insurance Academy also offers educational services. These services provide information on insurance, social protection, financial inclusion and risk management to help their clients get the best out of their micro-insurance programs.
Throughout the communities they assist, the organization has implemented resource centers that help their clients develop strong relationships with one another, utilize tools and resources needed to develop strong business skills and provide assistance with business techniques such as operations and marketing management.
In total, Micro Insurance Academy has assisted people in more than 12 countries to rise out of poverty through smart micro-insurance and business techniques. In the future, they plan to expand their practices and assist a greater number of people throughout the world.
– Julia Hettiger