Current insurance penetration levels are low across emerging markets despite huge demand and greater awareness. In the Middle East and North Africa region, only one per cent of the low-income population can access and afford microinsurance.

Michele Grosso – who has worked with some of the largest insurance companies in France, Egypt and the UAE – realised that the industry lacked innovation and technological readiness to scale their products to emerging consumers. He launched Democrance in 2015 to help insurers address this market and make insurance accessible for those who need it most but can afford it least.

Read more