Cuna Caribbean Insurance

What Cuna Caribbean Insurance does

CUNA Caribbean Insurance is a private regional insurance carrier serving credit union members across three Caribbean jurisdictions: Trinidad & Tobago (headquarters in Port-of-Spain), Jamaica, and the Organisation of Eastern Caribbean States (OECS) — specifically St. Lucia, St. Kitts & Nevis, and Antigua & Barbuda. The company operates through three licensed regional subsidiaries (CUNA Caribbean Insurance Society Limited, CUNA Caribbean Insurance Jamaica Ltd., and CUNA Caribbean Insurance OECS Limited) and distributes its products almost exclusively through credit union partner networks, supported by a regional "Credit Union Finder" tool on its website.

The product suite centers on the Family Indemnity Plan (death benefit coverage offered in seven tiered pricing options, no medical examination required) and extends into Critical Illness (standalone Family Critical Illness Plan and a Critical Illness Rider covering ten specified conditions), Credit Union Loan Protection, Advance Protector Insurance, Payment Protector, Life Savings (double-value coverage on Credit Union savings), and the Golden Harvest Savings Plan. Premiums are recurring (typically monthly subscription billing) with territory-specific coverage ceilings — for example, Critical Illness benefits up to $30,000 in OECS, $300,000 in Trinidad, and $3,000,000 in Jamaica.

Revenue is generated through recurring insurance premiums on these policies, with a B2B2C go-to-market: credit unions act as the embedded distribution channel, augmented by direct digital enrollment (e-fillable PDF forms in Trinidad, contactless enrollment in OECS, and Paymaster online payment portal integration in Jamaica). The company runs 101–250 employees, holds a dedicated Data Protection Officer function, maintains active social media presence, and is privately held with no disclosed external investors or parent company.

Name

Cuna Caribbean Insurance

Legal name

CUNA Caribbean Insurance Society Limited

Website

https://cunacaribbean.com

Company type

Private

Operating status

Operating

Headcount range

101–250 employees

Short description

CUNA Caribbean Insurance is a private regional insurer serving credit union members in Trinidad & Tobago, Jamaica, and the OECS. It offers family life, critical illness, loan protection, and savings plans distributed primarily through partner credit unions on recurring monthly premiums.

Ownership category

akta.pro rank

Headquarters

HQ city

Port-of-spain

HQ country

Trinidad & Tobago

HQ region

Latin America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums - Family Indemnity Plan: The core revenue stream comes from monthly insurance premiums collected from policyholders enrolled in the Family Indemnity Plan, which offers seven different plan options to suit various budgets and coverage needs.
2. Insurance Premiums - Critical Illness Coverage: Revenue generated from Family Critical Illness Plan and Critical Illness Rider premiums, providing coverage for serious illness diagnoses with lump sum benefit payments.
3. Savings Plan Contributions - Golden Harvest: Contributions to the Golden Harvest Savings Plan, combining insurance protection with savings accumulation features.
4. Credit Union Loan Protection Insurance: Premiums collected for loan protection insurance that pays off covered credit union loans in case of death or permanent disability.
5. Life Savings Insurance: Revenue from Life Savings insurance providing double-value coverage on Credit Union savings upon death.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Cuna Caribbean Insurance provides a suite of credit-union-distributed insurance and savings products for individual credit union members across the Caribbean. The core offering is the Family Indemnity Plan, supplemented by Family Critical Illness coverage, Loan Protection, Advance Protector Insurance, Life Savings, and Golden Harvest Savings Plan. Products are sold through regional entities in Jamaica, Trinidad & Tobago, and the OECS.

Product overview

Cuna Caribbean Insurance operates as a credit union-owned insurance provider offering a suite of insurance and savings products across Trinidad & Tobago, Jamaica, and the Organization of Eastern Caribbean States (OECS). The product portfolio centers on the Family Indemnity Plan as the core product, supplemented by the Family Indemnity Shield for enhanced loan protection. Critical illness coverage is available through both the standalone Family Critical Illness Plan and the Critical Illness Rider add-on. The company also offers loan protection products including Loan Protection, Advance Protector Insurance, and Payment Protector for credit union members. Savings products include the Golden Harvest Savings Plan and Life Savings, which provides double-value protection for credit union savings. Trinidad has the broadest product offering including the unique Family Indemnity Shield and Payment Protector, while regional variations exist in coverage limits.

Differentiator

Problem solved

Functional benefit

Brands

• Family Indemnity Plan: Primary insurance plan offering coverage options for families
• Family Critical Illness Plan
• Golden Harvest Savings Plan
• Advanced Protector Insurance
• Loan Protection
• Life Savings
• Family Indemnity Shield
• Payment Protector

Products and services

• Family Indemnity Plan The main insurance plan providing death benefit coverage for credit union members and their families, with seven plan options to choose from. No medical examination required for enrollment.
• Family Critical Illness Plan Standalone critical illness coverage providing up to $300,000 in Trinidad and $3,000,000 in Jamaica, with flexible coverage options and no medical required for signup.
• Loan Protection Coverage that pays off covered credit union loans in the event of permanent disability or death, providing peace of mind for borrowers and their families.
• Advance Protector Insurance Insurance protection designed to cover credit union loans in case of death or permanent disability.
• Life Savings Insurance that ensures beneficiaries receive up to double the value of the member's Credit Union savings upon death.
• Golden Harvest Savings Plan A savings plan that helps members grow their savings with competitive returns over a defined period, combining savings accumulation with insurance protection.
• Family Indemnity Shield An enhanced layer of protection added to the Family Indemnity Plan, providing additional financial security for covered credit union loans.
• Critical Illness Rider Add-on benefit offering additional protection against major medical conditions including Cancer, Heart Attack, Stroke, Paralysis, Major Burns, Coronary Artery Bypass, Alzheimer's Disease, Deafness, Loss of Speech, and Multiple Sclerosis, with benefits up to $30,000 in OECS.
• Payment Protector A protection plan that helps cover credit union loan payments in case of unexpected financial hardship.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Credit Unions across CaribbeancoreChannel Partner/ Reseller/ DistributorCUNA Caribbean Insurance operates primarily through credit union partnerships across Jamaica, Trinidad & Tobago, and the Organization of Eastern Caribbean States. The company distributes its insurance products exclusively through credit union networks, which serve as the primary channel for reaching customers.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Island Heritage Insurance: Bahamas-focused insurance provider offering life and general insurance products to Bahamian consumers. Operates in a neighboring Caribbean market with a similar institutional/credit-union-style distribution approach, making it a relevant regional comparable though not directly competing in CUNA's three territories.

Direct peers

• Sagicor Life Jamaica: One of the largest life and health insurers in Jamaica, offering individual life insurance, critical illness, and savings products to Jamaican consumers. Directly competes with CUNA Caribbean in Jamaica for life and critical illness coverage, particularly in the same credit union and middle-income member segments.
• Guardian Life Limited: Regional Caribbean insurance group headquartered in Trinidad & Tobago offering life, health, and pension products across the Caribbean. Directly competes with CUNA Caribbean in the Trinidad market and across OECS territories with similar life and savings insurance offerings.
• British American Insurance Company: Trinidad-based insurance company offering life and related insurance products in the Trinidad & Tobago market. Directly competes with CUNA Caribbean for credit union member insurance business in Trinidad.
• Jamaica National (JN) Life Insurance: Jamaica-based life insurance company affiliated with the JN Group/Jamaica National Bank. Offers life and savings products to Jamaican consumers through financial institution channels, making it a direct competitor to CUNA Caribbean in the Jamaican credit union member market.
• Caribbean Alliance Insurance Company Limited: Insurance provider operating across multiple Caribbean territories including OECS member states, offering life and health insurance products. Directly comparable as a multi-jurisdictional Caribbean insurer competing in overlapping territories.
• NCB Insurance Company Limited: Jamaica-based insurer offering life and credit-related insurance products, particularly tied to banking/financial institution distribution. Comparable to CUNA Caribbean in targeting Jamaican consumers with life and loan protection through institutional channels.

Broad incumbents

• Pan-American Life Insurance Group: Large US-headquartered insurer with significant Caribbean and Latin American operations offering life, health, and accident insurance. Operates broadly across the same Caribbean geographies as CUNA Caribbean with overlapping life and health insurance products, but as a diversified multinational rather than a credit union specialist.
• CUNA Mutual Group: US-based credit union insurance mutual that appears to be the parent affiliate (footer link from CUNA Caribbean). Provides life, disability, and related insurance products exclusively through credit unions, the same fundamental distribution model as CUNA Caribbean Insurance in the Caribbean.
• Scotiabank Life Insurance (Caribbean): Life insurance operations of Scotiabank across the Caribbean, distributing life and credit protection products through Scotiabank's regional banking network. Comparable institutional-distribution model targeting Caribbean consumers through trusted financial channels, similar to CUNA's credit union channel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• YouTubeyoutube.com/channel/UCFkBopLrJ7H9ZKbBDtpQ44w
• Facebookfacebook.com/CUNACaribbean
• LinkedInlinkedin.com/company/cuna-caribbean-ins--soc--ltd-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Cuna Caribbean Insurance