USAID commissioned MSC to provide technical assistance to refine and reposition Britam’s microinsurance product line. UNCDF engaged MSC based on our sound market understanding and best practices worldwide. The MSC team conducted a situational analysis of microinsurance at Britam, performed market and behavioral diagnoses, directed concept distillation, and created a product and strategic business case by pilot testing and refining products. We drafted specific market and communication strategies followed by an implementation framework.

Prior to MSC’s intervention, Britam made recurring losses on its microinsurance portfolio. After our advisory and technical assistance, Britam achieved an operational breakeven in 2016 and made a small profit on the microinsurance portfolio. As of the end of 2017, it increased annual profits on its microinsurance portfolio to KES 79 million (USD 0.79 million). By the end of July, 2018, Britam served over 550,000 low-income customers.