There are currently seven regulated private insurers in Zambia. Only two of these, Madison Insurance Zambia Limited and NICO Insurance, have reached the low-income market through partnerships with MFIs. This case study documents Madison’s experience in providing insurance to MFI clients through a partner-agent model. Madison’s involvement in microinsurance began in October 2000 through a partnership with PULSE Holdings Limited. Besides PULSE, Madison now works with three other prominent MFIs: FINCA Zambia, PRIDE Zambia and CETZAM Opportunity Microfinance Limited. They all offer similar insurance products—credit life and funeral cover—with minor variations.
CGAP Working Group on Microinsurance