Stonestep AG
Organization Details
Our financing & technology provide the answers & capabilities mass-market channels need to add high-impact risk-transfer for under-insured households & SMEs. We remove ~75% of traditional intermediation cost and increase data transparency to accelerate improved rates and terms. Our technology automates high-volume, low-ticket policy and claims administration needed by gig-workers and lower-income households. We operate in least developed and emerging Asia Pacific markets and with Community Development Finance Institutions in the US.
Impact Story
2/3rds of poverty is caused by lack of insurance. Healthcare and other services in low-income communities are underfunded due to lack of claims revenue. While wealthy households are sold more cover than they need, vulnerable households are sold none -- only buying whatever is mandated.
The problem is simple and universal: bigger policies pay bigger commissions and insurance is sold by agents that can't make money selling insurance to people who need it most. This has created a vicious cycle where insurers lack pricing data on vast customer segments. Various intermediary models have been tried for decades but these add expense and regulatory complexity. We have built mass-market insurance divisions within global insurers and intermediaries in least developed markets. Our work has led us to a new alternative to connect mass-market insurance at low-cost and in virtually any market.
