UBmatrix Aids Standardization of Microinsurance Software

UBmatrix, a software development company with an office in Bellevue, is participating in a consortium of developers and insurers to standardize microinsurance software platforms. Microinsurance, one of the most promising growth areas in microfinancial services, seeks to provide insurance services to the poor.

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Microinsurance can provide a backstop against many of the contingencies that cause microcredit borrowers to go into default. In the event of sickness or injury, a microcredit client who also has microinsurance for health care is more likely to receive the timely treatment that will allow a speedy return to work.

I’m glad to see local firms participating in the advancement in this next phase of microfinancial services. Please let me know if you work for UBmatrix or have a connection there. We’d love to hear more about your efforts.