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The potential of innovation labs for inclusive insurance

Emerging Insight #:


Date of Release:

  April 29, 2019


  Business models, Product development


  The Facility

The experience of MicroEnsure’s innovation labs

MicroEnsure was already a well-established name in the inclusive insurance market when it decided to set up innovation labs in 2017. Having launched a number of pioneering initiatives since 2004, it had reached over 60 million (predominantly low-income) customers worldwide. To stay true to its innovative roots, MicroEnsure felt it needed a structure to keep the company focused on developing new approaches.

Innovation labs are popular in various industries and they provided a great fit for MicroEnsure’s objectives. MicroEnsure set up innovations labs in Kenya, Ghana and India. The labs were tasked with designing new products and exploring new sales channels, as well as creating and testing tools for product innovation in their existing business. The innovation labs offered a unique space for MicroEnsure to freely experiment at a smaller scale and with fewer risks.

The innovation labs have helped MicroEnsure to embrace a customer-centric culture, oriented towards data and technology. More than ten models across three countries have been tested in less than a year, providing time, funds and people to explore ideas knowing that only some of them would be successful.

If you are curious to read more about MicroEnsure’s innovation labs’ successes – as well as the major challenges faced – consult our latest Case Brief.