What Is Microinsurance?

Microinsurance is insurance designed to be affordable for people who are typically excluded from traditional insurance markets. Where a conventional health insurance policy might cost $100–300 per month, a microinsurance product might cost $1–10 per month — covering a defined set of risks at a price that works for people earning modest incomes.

The concept is not new. What is new is the technology to deliver it at scale: digital claims processing, mobile payments, and data-driven risk pricing that makes low-premium products financially viable for insurers.

Why Traditional Insurance Fails Most People

Conventional insurance is built around a set of assumptions that excludes most of the world's population:

Customers have bank accounts and credit cards to pay monthly premiums
Customers can navigate complex policy documents written in legal language
Claims are submitted with full documentation and processed over weeks
Premiums are calculated on long credit and health histories

In Uganda, Ghana, Armenia, Georgia, or any number of emerging markets, these assumptions fail for the majority of the population. The result: a family faces a medical emergency or crop failure with no financial buffer, falls into debt, and the cycle of poverty deepens.

How Microinsurance Works Differently

GeraSure's microinsurance products are designed around three principles:

Affordable premiums — paid weekly, daily, or per-event rather than monthly in advance
Simple coverage — clearly defined what is and is not covered, in plain language
Fast digital claims — submit via smartphone, receive payment within 48–72 hours for eligible claims

What Microinsurance Can Cover

GeraSure offers modular microinsurance products that customers combine based on their needs:

Accident cover — lump sum payment for injury requiring hospitalisation
Life cover — defined benefit to family in case of policyholder death
Income protection — daily payment during hospitalisation for gig workers and self-employed
Crop insurance — indexed or verified payout when crop yield falls below threshold
Device insurance — replacement cost for smartphone or tablet
Hospital cash — daily cash benefit during in-patient hospital stay

Who Is Microinsurance For?

The primary beneficiaries are people who cannot afford conventional insurance but face the same underlying risks: illness, accident, death, crop failure, and job loss. This includes gig workers, farmers, informal sector workers, and lower-income households across Africa, South Asia, and the Caucasus.

It also increasingly appeals to people in higher-income brackets who want specific, targeted coverage for a defined risk without buying a comprehensive (and expensive) policy they do not fully need.

Getting Started with GeraSure

You can browse GeraSure's coverage options and get a quote in under two minutes — no medical history required for most products, no agent visit, and payment through whatever mobile money method you use. Explore available plans or learn how it works.