The MIC within MIC Global stands for Micro Insurance Company. But dispel all your preconceptions about what ‘micro insurance’ means, because we do it a little differently here.
Traditionally, the definition of micro insurance is: “Coverage offered to low-income households or individuals who have little savings.”
However, at MIC Global, micro insurance is about small periods, policies, events, and journeys. ‘Micro’ does not relate to the wealth of our customers, the size of the market, or the scale of the opportunity. Micro is about policies that are simple, uncomplicated, and broken down for a specific need (most of the time.) Our policies are also usually embedded within the specific product or services you are looking to protect risks with.
Our belief in the power of the micro goes way beyond what we do but how we do it. It’s engrained within our culture and the way we work.
You see, we set audacious goals at this company, but our approach to achieving those goals is all about taking micro actionable steps everyday.
A concept we like to model after is the Kaizen- based approach to improvement. If you’re not familiar with it, the Kaizen method is about aiming for 1 percent improvement today, another 1 percent improvement tomorrow, and so on. As Kaizen puts it, “Becoming 1 percent better every day is a simple, practical way to achieve big goals.”
We understand that the micro leads to the macro. It’s also the reason why we have a mix of the Yin and the Yang on our team; the big-picture thinkers and ideators who are planning 5 years ahead; and the strategists and process implementers who are figuring out the daily steps needed to get there.
The micro is about laying down bricks everyday in order to build a strong foundation for the future.
Think about it this way: let’s say you go to the gym today, and you workout and you come back and you look in the mirror. What do you see? NOTHING. If you go to the gym again tomorrow and you come back, and you look in the mirror, you will still see nothing. At this point, some people will think, “well clearly there’s no results because it can’t be measured and thus, it must not be effective.” And so they quit.
However, It’s not about the exercises, and it’s not about the intensity… it’s about consistency.
It’s the consistency of these actions that yields results.
That’s why we search for people to join our team who are disciplined. It’s not enough to be motivated because most people don’t wake up motivated every single day. It’s about discipline and remembering the vision we’re working towards. Being able to put our heads down and get it done even on the days we really don’t feel like it.
We know our current life is the result of our previous choices, just as our future reality will be the result of the decisions we make today.
So that’s why we focus on the Micro.
We know that creating micro insurance policies that our customers actually want and need is making a massive impact – it’s providing millions of people with access to a safety net they need. We also know that it’s our daily micro achievements as a team that continues to push us towards our ultimate vision.
For all these reasons and more, you could say we’re a little obsessed with the micro.