There is no recipe in microinsurance: what we’ve learnt after nine editions and 168 leaders
By Bert Opdebeeck, Founder, Microinsurance Master
There is no single successful microinsurance model that can be replicated from one market to another. However, there are key ingredients which, when properly identified, can be adapted to any context. That is the premise of the Microinsurance Master programme and also its most important lesson.
Who we are and what we do
“Microinsurance Master radically changed the way we approach microinsurance. We are now equipped to succeed.” Gbenga Ilori, AIICO, Nigeria
Microinsurance Master is an accelerator programme which, since 2018, has brought together more than 168 decision-makers from 107 companies in 49 countries — insurers, regulators, intermediaries, insurtechs and microfinance institutions. We believe that the best way to bring protection to low-income families in emerging economies is to empower the leaders who are already working to achieve this. Latin America presents a unique opportunity: active distribution ecosystems — cooperatives, microfinance institutions, fintechs and insurtechs — but with a protection gap that is still far from being closed. That is exactly what the programme aims to change.
Those joining the programme are typically executives with a clear mandate from their organisations to advance microinsurance: leaders seeking to accelerate this work by learning from those who have already achieved concrete results.
The initiative: learning outside the classroom
What this journey has taught us is not something you will easily find in any textbook: there is no single successful microinsurance product or business model that can be replicated from one market to another. What does exist, however, are key ingredients which, when properly identified, can be adapted to any context: the organisation, the market, the regulatory framework and, above all, the customer segments being served.
That is precisely the rationale behind the programme. Rather than teaching from the classroom, we take participants to work directly with real-world microinsurance champions – organisations that have built sustainable models and know, from practical experience, what works and why. Through this immersion, participants identify these key ingredients, scrutinise them, test them against insights from other markets, and return with a transformed perspective on how to apply them in their own context.
First edition in Spanish: a milestone for the region
In 2025, we put this approach to the test for the first time in Spanish. Fifteen professionals from eight Latin American countries – representing insurers, intermediaries, brokers, microfinance institutions and regulators – completed the first Latin American edition of the programme.
One standout insight was that trust in the distribution channel matters far more than the price of the product. This nuance, tested directly with real customers, changed the way several participants were thinking about their market strategy.
See the video of Microinsurance Master 2025 Accelerator Programme in Spanish
Impact: results that speak for themselves and a community that amplifies them
The programme’s results extend far beyond a single cohort. Throughout the English-language cohorts since 2018, participating organisations have achieved tangible impacts:
Results from the English-language cohorts:
• USD 1 million in additional microinsurance premiums at an African insurer.
• 100,000 new enrolments across three health insurance products at an Asian insurer.
• A microfinance institution turned a loss of USD 200,000 into a profit of USD 100,000.
• Two participants attracted high-profile investors.
Perhaps the most enduring aspect across all editions has been the alumni network: a group of committed peers who continue to learn and share insights on how to make a real difference in microinsurance.
Being part of this network means permanent access to a global community of microinsurance leaders: regular meetings to exchange ideas on products, regulation and distribution; and direct links with leading organisations in Asia, Africa and Latin America.
Lessons learnt: what we’ve taken away
From the Latin American edition, we gained an insight worth highlighting: the LATAM ecosystem has its own strengths — distributors with genuine reach into communities, regulators willing to innovate, a rich history of microfinance models — which are not always visible from the outside. The programme helped participants to recognise these assets and build on them.
After years of running the programme and hundreds of participants, there is one thing the programme consistently confirms: real change in microinsurance does not come from copying models, but from a deep understanding of one’s own context. Participants do not leave with a formula to copy; they leave with better questions and the capacity to find their own answers.
We have also learnt that the community matters just as much as the content. The peer network that forms during the programme becomes, over time, one of the most valuable assets for those working in this sector.
What’s next: second edition in Guatemala, 2026
These lessons also guided the choice of hosts for the second edition. Seguros Universales and Aseguradora Rural are not merely hosts: they are exactly the kind of genuine champions the programme seeks — organisations that have built sustainable models in complex contexts and can demonstrate, in practice, how it’s done.
Aseguradora Rural is a pioneer in microinsurance in Guatemala: it operates through the Banrural network, focusing on rural communities, and was the first insurer in the country to develop an indexed parametric insurance product, in collaboration with MiCRO and the World Food Programme. Seguros Universales also has a solid track record in the inclusive insurance segment across the region.
The second Spanish-language edition begins on 2 November 2026, this time in Guatemala, in partnership with Seguros Universales and Aseguradora Rural – two organisations that took part in the programme and are now hosting the immersion. Over two weeks, participants will work directly with the teams and clients of these insurers and design customer-centred solutions. They will then have access to mentoring sessions led by internationally recognised leaders.
If you are a decision-maker in microinsurance with a clear mandate from your organisation to make progress in this field, and you are interested in accelerating that work alongside a community of like-minded leaders from around the world, this could be the opportunity you are looking for.
What are the key ingredients for a successful microinsurance business? Does your organisation have the right conditions to put them into practice?
Further information
→ Programme in Spanish: https://www.microinsurancemaster.org/es
→ Key ingredients for success in microinsurance: https://microinsurancemaster.org/como-prosperar-en-microseguros/
