After two years of operations, PlaNet Guarantee, a subsidiary of PlaNet Finance, is increasing its capital and gaining new operational partners, BNP Paribas Assurance and Malakoff Médéric, who will provide know-how as well as technical expertise in the insurance field.
PlaNet Guarantee is dedicated to the promotion and development of microinsurance in the world. Its purpose is to enable people traditionally excluded from conventional insurance systems, and who do not benefit from social protection, to protect themselves against various risks (health, accidents, natural disasters, etc.). PlaNet Guarantee works closely with microfinance institutions that already possess a strong presence on the ground, and who have a good knowledge of the needs of the population.
Currently, PlaNet Guarantee conducts research and development activities in 7 countries to develop innovative solutions for microfinance institutions and microentrepreneurs.
PlaNet Guarantee will draw on the resources of BNP Paribas Assurance’s 41 global offices to extend its international network and to provide insurance solutions to low-income households that do not have access to other protection mechanisms.
This new partnership will accelerate the development of microinsurance in the world and create new solutions to assist in the fight against poverty.