MIC Global

About MIC Global

MIC Global operates as a full-stack digital microinsurance company, strategically positioned to address the financial vulnerabilities of individuals facing short-term income loss. The company was co-founded by Jamie Crystal and Harry Croydon, who currently serves as the CEO. Croydon's background includes extensive experience in steering technology-led insurance ventures, having previously served as CEO for a Lloyd's broker and co-founding a company that pioneered the sale of insurance through mobile phones. This experience directly informs MIC's focus on technology-driven insurance solutions.

The firm's business model is structured as a business-to-business-to-consumer (B2B2C) framework, where it partners with platform companies, insurance carriers, and brokers. Through these partnerships, MIC embeds its parametric microinsurance products into the partners' existing ecosystems. This embedded approach targets a diverse client base, including gig economy workers, micro-entrepreneurs, and other individuals underserved by traditional insurance markets. Revenue is generated by providing these digital reinsurance solutions and underwriting policies.

MIC Global's core offering is its 'MiIncome' digital reinsurance platform, which delivers parametric insurance products. Unlike traditional insurance that pays out based on an assessment of actual loss, parametric insurance pays a pre-agreed amount when a specific, measurable event, or 'trigger,' occurs, such as a natural disaster or business interruption. This structure allows for faster, more transparent claims processing. The company possesses its own underwriting capabilities through its Lloyd's of London Syndicate 5183 and MIC Re, a reinsurer based in Anguilla, enabling it to manage risk and underwrite policies directly. This full-stack capability, combining technology, product development, and underwriting, allows MIC to create and scale simple, relevant insurance products for global partners of various sizes.