MIC Global

What MIC Global does

MIC Global is a full-stack embedded micro-insurer that builds, prices, and underwrites its own parametric income-protection products rather than layering software over a third-party carrier. Its flagship product, MiIncome, delivers trigger-based coverage for involuntary unemployment, natural-hazard income disruption, gig-worker accidents, trip cancellation, and weather inconvenience, and is embedded via API inside digital platforms owned by fintechs, telcos, remittance operators, mobility/super-apps, and real-estate platforms. A second product, MiIdentity, combines dark-web monitoring with parametric identity-theft insurance and was launched in India with New India Assurance. The company operates as a Lloyd's Coverholder through Syndicate 5183 (managed by Asta Managing Agency), holds SOC 2 Type II certification, and displays an A+ financial-strength rating, giving it regulated, rated underwriting capacity across 24 countries.

The underlying platform is MiCology, the group's AI-driven technology engine, which powers automated claims assessment and settlement, real-time fraud detection, automated underwriting configuration, and a low-code integration toolkit that maps partner data fields and provisions sandbox environments so new partners can go live in days. The company targets $1 million of revenue per employee net of cost of goods, reflecting an AI-native operating model with a deliberately compact team across the US, UK, Asia, and Africa. Founded in 2017 by Harry Croydon and Jamie Crystal, MIC Global originally operated as a broker, pivoted in 2020 to become an insurer by merging its tech, insurance, and broking entities, and rebranded from The Microinsurance Company to MIC Global.

The business model is B2B embedded insurance: MIC generates premium revenue by integrating MiIncome into partner platforms (Rhino, Grid, Leap Financial, inDrive, Airbnb, QIC-distributed platforms in MENA, New India Assurance in India, and others), takes a share of premium and/or reinsurance economics, and layers on reinsurance relationships with Greenlight Re, Ironsides Partners, GIC Re, Aon Reinsurance Solutions, and Lloyd's-backed capacity. Distribution is exclusively through platform embedding and regional insurance partners (QIC for GCC, The Plateau Group for US, New India Assurance for India); consumer acquisition runs through partners' existing user bases. The company has raised $6 million in seed funding (Jan 2024, led by Launchpad Capital) and received a strategic investment from Qatar Insurance Group (Feb 2025) as part of the Insurtech Accelerator MENA program.

Name

MIC Global

Legal name

MIC Global Services Limited

Website

https://micglobal.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Embedded Microinsurance

NAICS

Software Publishers (5132)

akta.pro primary industry

API Development, Integration & Microservices Modernization (BPAEAFAD)

Keywords

• Embedded insurance
• Microinsurance products
• Income protection
• Digital underwriting
• Insurance platform

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Embedded Insurance Premium Revenue: MIC Global embeds its MiIncome income protection product into partner digital platforms (fintechs, telcos, remittance platforms, mobility operators, real estate platforms). Partners integrate via API and offer the insurance to their end customers, generating recurring premium revenue from embedded microinsurance policies. Premiums are structured at accessible price points for mass-market consumers.
2. Digital Reinsurance Solutions: MIC Global provides reinsurance to insurance and platform partners, including tailored, trigger-based reinsurance solutions for partners' income protection products. Reinsurance arrangements with Lloyd's (via Coverholder status), GIC Re (India), and other rated insurers support the underwriting backbone.
3. Partner Revenue Generation: Embedded insurance creates new monetization paths for partner platforms — differentiation, customer acquisition, retention improvement, and revenue sharing from premium generation. Partners earn recurring income from embedded MiIncome premiums, with MIC taking a share.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

MIC Global is a full-stack digital micro-insurance company that designs, prices, and underwrites its own insurance products (principally MiIncome, an embedded income protection product) and distributes them via API integration inside partner digital platforms such as fintechs, telcos, real estate operators, remittance platforms, and mobility super-apps. Operating as a Lloyd's Coverholder, the company combines its MiCology AI platform with parametric trigger-based coverage to deliver automated claims processing, real-time fraud detection, and low-code partner onboarding across more than 24 countries.

Product overview

MIC Global is a full-stack, full-service digital insurance company offering embedded microinsurance products. Its core product is MiIncome™, an AI-powered income protection product that provides parametric trigger-based coverage (involuntary unemployment, natural hazard income disruption, gig worker accident) embedded within digital platforms. The company also offers MiIdentity™, a digital identity monitoring and insurance solution launched in India. A proprietary AI-powered integration toolkit enables rapid, low-code API-based partner onboarding across banking, fintech, real estate, remittances, mobility, and telco verticals. All products are backed by Lloyd's Coverholder underwriting capacity and SOC 2 compliance.

Differentiator

Problem solved

Functional benefit

Brands

• MiIncome: Modern income loss protection product providing fast, fair income protection for digital platforms and their users. Covers involuntary job loss, natural hazard income disruption, and other income loss scenarios.
• MiIdentity
• MiIncident

Products and services

• MiIncome™ MIC Global's flagship AI-powered embedded income protection product providing parametric, trigger-based coverage for involuntary job loss, natural hazard income disruption, gig worker accidents, medical expense protection, and trip cancellation, embedded via API inside digital platforms such as Airbnb, Rhino, Grid, Leap Financial, inDrive, and QIC-distributed partners.
• MiIdentity™ All-in-one digital identity monitoring, restoration, and insurance solution providing 24/7 dark-web monitoring, alerts for suspicious financial activity, identity recovery support, and financial reimbursement for losses due to identity theft, distributed in India through New India Assurance with digital reinsurance from MIC Global and GIC Re.
• MiIncident Insurance product supporting customers during daily disruptions and life's inconveniences, expanding MIC Global's income and lifestyle protection offering beyond traditional income protection triggers.
• MiCology AI-Powered Integration Platform Proprietary AI-driven technology platform (MiCology) and low-code integration toolkit that automatically maps partner data fields, generates API connectors, and provisions sandbox environments, powering MiIncome, MiIdentity, and MiIncident with automated claims processing, real-time fraud detection, and smart underwriting, and enabling partners to go live in days across banking, fintech, real estate, remittances, mobility, and telco verticals.

Quantifiable outcome

• 80% of claims turned around within 48 hours (May–Dec 2023)
• +4 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature6 records

Partnerships

Eleven partnerships are on record, tiered flagship, supporting and core.

• AirbnbflagshipChannel Partner/ Reseller/ Distributor · 6 March 2026Airbnb launched Earnings Protection in partnership with MIC Global, enabling hosts on the platform to access embedded income protection. Announced March 2026, this partnership positions MIC's product within one of the world's largest hospitality platforms.
• VOOM InsurancesupportingChannel Partner/ Reseller/ Distributor · 6 November 2024MIC Global partnered with VOOM Insurance to reinsure rideshare business, announced November 2024. VOOM provides rideshare insurance and MIC provides the reinsurance capacity backing VOOM's products.
• New India AssuranceflagshipChannel Partner/ Reseller/ Distributor · 29 May 2024New India Assurance (India's largest nationalised general insurer, AAA/Stable CRISIL rated) partnered with MIC Global to launch MiIdentity — India's first all-in-one digital identity monitoring, restoration, and insurance solution. NIA distributes the product through its network with digital reinsurance provided by MIC in partnership with GIC Re. Aon's Reinsurance Solutions brought together leading insurance and reinsurance providers for supporting capital.
• GIC ResupportingChannel Partner/ Reseller/ Distributor · 29 May 2024GIC Re (India's sole domestic reinsurer, ranked 16th largest global reinsurer by AM Best) partners with MIC to provide digital reinsurance solutions to the Indian insurance market, supporting the MiIdentity product launched with New India Assurance.
• Aon Reinsurance SolutionssupportingChannel Partner/ Reseller/ Distributor · 29 May 2024Aon's Reinsurance Solutions brought together leading insurance and reinsurance providers (New India Assurance, MIC Global, GIC Re) to provide supporting capital for the MiIdentity platform, delivering strategic value to the re/insurance industry through a multi-faceted approach combining India's leading insurance and reinsurance capacity with MIC's underwriting and tech capabilities.
• The Plateau GroupcoreChannel Partner/ Reseller/ Distributor · 11 July 2023The Plateau Group (US-based insurance holding company specializing in credit insurance, service contracts, and loan-related products) provides insurance solutions to the financial services industry. MIC Global delivers its MiIncome digital reinsurance product through Plateau partnerships, which has been instrumental in launching Grid's income protection product and Leap Financial's medical expense protection.
• GridcoreChannel Partner/ Reseller/ Distributor · 11 July 2023Grid (US neo-bank) partnered with MIC Global and The Plateau Group to offer Grid Income Protection — providing $2,000 monthly benefit for up to two months if customers lose their job involuntarily. Harmonic Insurance Services brokered the partnership. The product is integrated via API powered by MiCology technology.
• Harmonic Insurance ServicessupportingChannel Partner/ Reseller/ Distributor · 11 July 2023Harmonic Insurance Services (digital insurance broker) connected Grid with MIC Global to create the income protection partnership, providing turnkey integration technology and ensuring compliance for the embedded insurance program.
• Leap FinancialcoreChannel Partner/ Reseller/ Distributor · 5 July 2023Leap Financial partnered with MIC Global and The Plateau Group to deliver digital medical expense protection for Leap's h.way platform, covering up to $1,000 for medical expenses. Offered through h.way Monarca Plus account, embedded via API integration powered by MiCology.
• ASNAsupportingChannel Partner/ Reseller/ DistributorASNA is listed as a distribution partner in MIC Global's first flywheel connecting Lloyd's Coverholder status and reinsurance relationships to a growing network of digital distribution partners.
• inDrivesupportingChannel Partner/ Reseller/ DistributorinDrive is listed as a partner platform in MIC Global's first flywheel connecting underwriting capacity to a growing network of digital distribution partners including mobility platforms, fintechs, lenders, and gig economy operators.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Lemonade: Public AI-native digital insurance company offering renters, homeowners, pet, and life insurance with embedded-style digital UX. Directly comparable to MIC Global on AI-first claims, mobile-native distribution, and the mission to use technology to expand insurance access — although Lemonade serves consumers directly while MIC focuses on embedded/platform distribution.
• Zego: UK-based digital insurer providing usage-based and embedded insurance for gig economy drivers (rideshare, delivery, mobility). Highly comparable to MIC Global's mobility vertical (e.g., inDrive partnership) and income protection for gig workers, with similar API-first platform model.
• Slice Labs: On-demand insurance platform offering embedded digital insurance products for gig economy, mobility, and platform customers. Closely aligned with MIC Global's parametric, trigger-based embedded insurance approach and platform-as-a-service distribution model.
• Next Insurance: Digital-first commercial insurer offering embedded-style small business insurance through API and partner channels. Comparable to MIC Global in its API-driven, embedded distribution strategy and AI-augmented underwriting for under-served customer segments.
• CoverWallet: Digital commercial insurance platform offering embedded business insurance with API integrations for partners and fintechs. Comparable to MIC Global on embedded/API distribution, AI-assisted underwriting, and the thesis that traditional insurance distribution is broken for digital platforms.
• Trov: On-demand insurance technology platform enabling embedded micro-duration insurance products via API. Directly comparable to MIC Global's parametric, trigger-based, embedded insurance model and API-first partner integration approach.

Emerging players

• Betterfly: LatAm-focused embedded protection and wellness platform offering micro-insurance tied to healthy habits for gig workers and underserved populations. Comparable to MIC Global's mission of closing the protection gap through embedded microinsurance, though with a wellness-angle rather than income-loss triggers.
• Ladder: Digital life insurance platform offering instant-issue, fully-underwritten term life coverage through a modern UX and partner APIs. Comparable to MIC Global on AI-driven underwriting, API-embedded distribution, and the thesis of digitizing a traditionally slow insurance product.

Broad incumbents

• Munich Re: World's largest reinsurer and an active reinsurance partner of MIC Global's Lloyd's Syndicate 5183 operations. Comparable as a broad incumbent reinsurer in the embedded microinsurance space and a competitive distribution channel partner for platform-embedded insurance globally.
• Swiss Re: Major global reinsurer with established embedded insurance initiatives and partnerships with platforms. Comparable to MIC Global as a broad incumbent supplying reinsurance capacity and competing for embedded insurance distribution economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/micglobal
• Xx.com/microensure
• Facebookfacebook.com/microinsurancecompany

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MIC Global