Innovation intelligence brief
Innovation intelligence brief
Specialist provider of insurance to the mass market with more than 15 million customers in 17 markets across Africa. We perform a number of roles which can vary from country-to-country according to the needs of our partners. Once we have refined our customer base and designed the products, our role is then to provide an efficient back office function.
What became of it
Completed · High confidence · Last verified 2026-10-17
As catalogued
A specialist microinsurance intermediary that designed simple, low-cost products for the mass market in Africa and Asia, distributed them mainly through mobile network operators and other partners, and ran the back office, reaching more than 15 million customers in 17 markets.
2026 reality
MicroEnsure no longer operates as a standalone company. In July 2020 it merged with TonkaBI and the US-based STP Group to form the Micro Insurance Company, now MIC Global, which describes itself as a B2B2C provider of embedded parametric micro-insurance (e.g. income-loss covers) with capacity from Lloyd's Syndicate 5183 and its own reinsurer MIC Re. MicroEnsure's Ghana business was sold to Turaco in September 2023 and rebranded Turaco Ghana; microensure.com served an expired TLS certificate in October 2026.
The MicroEnsure brand was folded into MIC Global after the 2020 three-way merger led by STP Group founder Harry Croydon as CEO. The group then took on underwriting capacity through a Lloyd's 'syndicate-in-a-box' (MIC 5183: in-principle approval January 2022, approved to underwrite June 2022) and shifted towards embedded parametric products for platforms, carriers and brokers, while divesting the Ghana operation to Turaco.
combining MicroEnsure's distribution and licences with STP Group's straight-through processing and TonkaBI's AI was presented as a way to lower unit costs, and owning Lloyd's capacity let the group capture underwriting margin rather than act only as an intermediary.
MicroEnsure was a reference case for mobile-operator microinsurance; its legacy survives in MIC Global's embedded parametric micro-cover and in Turaco Ghana.
Third taxonomy
REVIEW · Verified the 2020 merger (Coverager) and the September 2023 sale of MicroEnsure Ghana to Turaco (The Condia). Corrected the Syndicate 5183 timeline (in-principle approval Jan 2022, underwriting approval June 2022, not April 2022) and added a 2024 inDrive partnership as more recent activity evidence.
Documented evidence
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Research interpretation
Classification paths, as catalogued, connect this example to the original insurance digitalization research models.