Milliman has announced that the firm has been joined by the MicroInsurance Centre (MIC), the internationally recognized consulting firm and microinsurance thought leader dedicated to generating access to valuable microinsurance products to 3 billion low-income people across the globe. Both firms share the common goal of working to protect the health and financial well-being of people everywhere. The transaction amplifies and accelerates the MIC’s progress towards its goals while significantly expanding Milliman’s capabilities in microinsurance. Together, these companies provide unmatched breadth and depth in capacity for clients working in emerging markets to start or enhance their insurance offerings in the low-income market segments.
“The MicroInsurance Centre is a remarkable organization with a deep commitment to building sustainable microinsurance products for populations in need,” says Milliman Chief Executive Officer Steve White. “The MIC’s pedigree of deep expertise, its independence, and its ability to deliver research and education around microinsurance pair perfectly with Milliman’s values and global footprint. We look forward to working with the MIC in support of its bold vision.”
“Milliman is a perfect fit for us given its mission, skills, and great reputation. Milliman’s interest in helping its clients expand throughout the emerging markets, where the bulk of insurance growth will arise, was an obvious fit as we looked to expand our vision of keeping people from sliding back into poverty,” says MIC president Michael J. McCord. “The synergy arises from Milliman’s global reach and commitment to the health and financial well-being of people everywhere, coupled with the MIC’s experience in providing value to low-income clients and business cases for insurers in over 75 countries.”
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