Ep 114 Richard Leftley MIC Global: Where Microinsurance and the Gig Economy meet

Tuesday Mar 08, 2022

Today’s guest is a true pioneer in insurance and also in insurtech.

In fact Richard Leftley, Executive Vice President of MIC Global has had about fifteen years head start on many of the other others in that game.

As a trailblazer in microinsurance in the developing world, where premiums per customer can often be measured in $single digits, Richard learned right away that without a digital-first approach you are going to get swamped by the expense ratio and you won’t have a viable product.

As technology and robust data sources have advanced so the microinsurance opportunity is finally coming into its own.

But what’s particularly exciting is that it turns out the hard operational lessons learned from that tech first, very high volume, low individual premium microinsurance experience are transferable to the high-growth emerging embedded insurance applications in the gig economies of today’s most developed countries.

And now that MIC Global has been given in-principle approval for a syndicate in a box at Lloyd’s it seems poised to benefit from strong growth in both of these incredibly different worlds.

Richard is passionate and eloquent and really knows his business inside and out. There is a lot you can learn from him and I can highly recommend a listen today.

LINKS:
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com/

We also thank Claims Direct Access (CDA) for their support today:
https://www.claimsdirectaccess.com/