MIC Global, a specialist in parametric microinsurance for the gig economy, and inDrive, the international mobility and delivery platform, have expanded their partnership to 18 countries. The trip-based insurance policy provides protection for both drivers and passengers against a range of risks, including medical costs resulting from accidents during a journey.
From a Fair-Fare Movement to a Global Platform
The origins of inDrive can be traced to New Year's Eve in 2012, when temperatures in Yakutsk, Siberia, plunged to -45°C. As local taxi operators sharply increased their fares, residents turned to social media to arrange shared rides and negotiate reasonable prices. That grassroots response ultimately gave rise to inDrive.
Today, the company operates in more than 1,200 cities across 48 countries, connecting drivers and passengers while maintaining its focus on fair pricing.
Addressing a Different Kind of Insurance Need
Conventional insurance models are generally designed around relatively stable risks, predictable schedules and defined geographic markets. Those assumptions are difficult to apply to a global mobility marketplace where thousands of drivers undertake billions of journeys each year, often in regions where unexpected medical expenses can create severe financial hardship.
MIC Global's parametric approach is designed for short-term, event-based risks. Its technology supports automated claims processing, while predefined triggers can be verified using data already generated by the platform. This can reduce the need for paperwork and manual claims assessment.
How the Partnership Works
The collaboration began in 2024, initially providing trip-based coverage to inDrive drivers and passengers in three countries. Protection applies only while users are undertaking rides booked through the inDrive platform.
The two companies bring complementary capabilities to the arrangement. inDrive concentrates on its mobility marketplace and connecting drivers with passengers, while MIC Global manages insurance-related functions including underwriting, regulatory compliance and claims administration.
The Complexity of International Expansion
Expanding the programme from three countries to 18 in less than two years has required more than a technology platform. Insurance regulations, actuarial requirements, claims processes and business relationships differ substantially from one market to another.
MIC Global maintains local regulatory compliance while using a consistent underlying insurance framework. The company combines standardized policy structures for each business vertical with market-specific policy wording and actuarial models. Its reinsurance arrangements are designed to support the programme across multiple markets.
Andries Smit, Chief Growth Business Officer at inDrive, said the expansion reflects the company's founding philosophy of putting people at the center of its platform.
According to Smit, extending financial protection to drivers and passengers across international markets demonstrates that principle in practice. For drivers who may complete several trips each day, he noted, an accident in a market with significant medical expenses can potentially threaten the financial stability of an entire family, making the insurance protection an important safety net rather than an optional add-on.
Mike Eksteen, Senior Vice President and Chief Business Officer at MIC Global, said the company's approach begins with understanding how a partner operates, where its risks arise and what its customers need.
He explained that MIC Global combines this understanding with AI-supported technology and insurance expertise to develop protection products tailored to each platform. While the underlying policy architecture can be standardized, licensing, actuarial requirements and policy terms are adapted to individual markets, with reinsurance provided through Lloyd's and MIC Re.
Eksteen added that the model enables MIC Global to expand alongside its partners. As inDrive enters additional countries, the insurance infrastructure can be adapted and deployed in those markets, allowing financial protection to grow alongside the platform.
From a Fair-Fare Movement to a Global Platform
The origins of inDrive can be traced to New Year's Eve in 2012, when temperatures in Yakutsk, Siberia, plunged to -45°C. As local taxi operators sharply increased their fares, residents turned to social media to arrange shared rides and negotiate reasonable prices. That grassroots response ultimately gave rise to inDrive.
Today, the company operates in more than 1,200 cities across 48 countries, connecting drivers and passengers while maintaining its focus on fair pricing.
Addressing a Different Kind of Insurance Need
Conventional insurance models are generally designed around relatively stable risks, predictable schedules and defined geographic markets. Those assumptions are difficult to apply to a global mobility marketplace where thousands of drivers undertake billions of journeys each year, often in regions where unexpected medical expenses can create severe financial hardship.
MIC Global's parametric approach is designed for short-term, event-based risks. Its technology supports automated claims processing, while predefined triggers can be verified using data already generated by the platform. This can reduce the need for paperwork and manual claims assessment.
How the Partnership Works
The collaboration began in 2024, initially providing trip-based coverage to inDrive drivers and passengers in three countries. Protection applies only while users are undertaking rides booked through the inDrive platform.
The two companies bring complementary capabilities to the arrangement. inDrive concentrates on its mobility marketplace and connecting drivers with passengers, while MIC Global manages insurance-related functions including underwriting, regulatory compliance and claims administration.
The Complexity of International Expansion
Expanding the programme from three countries to 18 in less than two years has required more than a technology platform. Insurance regulations, actuarial requirements, claims processes and business relationships differ substantially from one market to another.
MIC Global maintains local regulatory compliance while using a consistent underlying insurance framework. The company combines standardized policy structures for each business vertical with market-specific policy wording and actuarial models. Its reinsurance arrangements are designed to support the programme across multiple markets.
Andries Smit, Chief Growth Business Officer at inDrive, said the expansion reflects the company's founding philosophy of putting people at the center of its platform.
According to Smit, extending financial protection to drivers and passengers across international markets demonstrates that principle in practice. For drivers who may complete several trips each day, he noted, an accident in a market with significant medical expenses can potentially threaten the financial stability of an entire family, making the insurance protection an important safety net rather than an optional add-on.
Mike Eksteen, Senior Vice President and Chief Business Officer at MIC Global, said the company's approach begins with understanding how a partner operates, where its risks arise and what its customers need.
He explained that MIC Global combines this understanding with AI-supported technology and insurance expertise to develop protection products tailored to each platform. While the underlying policy architecture can be standardized, licensing, actuarial requirements and policy terms are adapted to individual markets, with reinsurance provided through Lloyd's and MIC Re.
Eksteen added that the model enables MIC Global to expand alongside its partners. As inDrive enters additional countries, the insurance infrastructure can be adapted and deployed in those markets, allowing financial protection to grow alongside the platform.
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