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Micro Insurance Company
United States
01 Jul 2020 (5 Years)
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What are the differences in regulations for each
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A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Company Information
Get to know Micro Insurance Company
Company Information
Get to know Micro Insurance Company
Micro Insurance Company is a full stack insurance platform company that delivers its micro insurance products, a simplified product combined with a frictionless digital customer journey that leverages the brand and payment collection capabilities of our partners distribution. These products are delivered through new economy platform companies, micro and small businesses and the billions of unserved middle to low income families. The company provides a range of liability, accident, life, health, property and weather index products via a range of distribution partners that include mobile phone network operators, banks, IoT product distributors and insurance networks. Micro Insurance Company was formed from several merged companies in June 2020. MicroEnsure which started in 2002 was acquired and the STP Group was formed which trades as Micro Insurance Company. Omidyar Network remained with the company and joined the other founders on the Board of STP Group. Micro Insurance Company is at the leading edge of insurtech and bringing insurance to the mass market via the mobile phone and other mass distribution channels..
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- Financial InsurancePRIMARY
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