Microrisk

MiCRO (Microinsurance Catastrophe Risk Organisation) is a parametric microinsurance carrier domiciled in Barbados that underwrites index-based insurance against extreme weather and natural disasters for underserved populations across Latin America. Founded in 2010 by Mercy Corps and Fonkoze following the Haiti earthquake, MiCRO delivers coverage to smallholder farmers, micro-entrepreneurs, and low-income households in Guatemala, El Salvador, Colombia, Mexico, Honduras, and Costa Rica. As of early 2026, the carrier has reached 690,000 policyholders and 3.5 million beneficiaries, with USD 26 million in total payouts.

MiCRO underwrites using independent geospatial and meteorological data -- satellite imagery and rainfall measurements from NASA, NOAA, and USGS -- to determine when predetermined thresholds are crossed and trigger automatic payouts, eliminating traditional loss assessments. The MICAPP platform, built on Python, PHP, and GIS/geospatial analysis tooling, handles the full product lifecycle: policy administration, trigger monitoring, payout calculation, and distribution partner management. Claims payments are typically delivered within days of a qualifying event.

In May 2024, Howden Group Holdings acquired MiCRO and integrated it into Howden's Climate Risk and Resilience division. Mercy Corps exited as a shareholder at acquisition but continues to collaborate on poverty-alleviation initiatives. Prior capital included a USD 1.96M IFC grant (2013) and program funding from IDB/MIF, KfW, and the Swiss Agency for Development and Cooperation.

Overview

At a Glance

Category & Focus

Links

Similar Companies