In our first podcast of 2024, Jamie Crystal, CEO of MIC Global, discusses with Matthew Grant their aim to close the insurance protection gaps by offering insurance products tailored to the needs of underserved individuals, including income protection, identity theft protection, and incident coverage.
MIC uses a business-to-business-to-customer (B2B2C) model and all of its products are embedded within other platforms or services. MIC offers insurance products in various forms including embedded insurance methods, aiming to make the process simpler and more relevant to everyday life. Crystal highlights the company’s partnerships with brokers, digital platforms, and other insurance companies to distribute their coverage. The need for these products is global, Crystal insists, and not limited to specific demographics or regions.
Key Talking Points Include:
- Understanding the concept of microinsurance
- The problem MIC is solving – access to affordable products
- The role of embedded insurance
- The future of MIC and the insurance industry
- Closing the insurance protection gap
If you like what you’re hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn.
Visit MIC Global here.
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Continuing Professional Development
This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme.
By the end of this podcast, you should be able to meet the following Learning Objectives:
- Explain what is the insurance protection gap and how it can be remedied
- Summarise how an embedded insurance product operates and how it can help consumers
- Identify key industries where there is an under-insurance problem and why that is the case
Let us know you have listened to this podcast by emailing [email protected] and if your organisation is a member of InsTech you will receive a quarterly summary of the CPD hours you have earned.
To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.