Distributing health, crop and funeral micro-insurance in underserved areas
Starting costs about 376,000 NGN in Nigeria and 102,000 KES in Kenya. After 12 months, this business can bring in about 226,000 NGN net per month in Nigeria and 29,100 KES in Kenya. The starting money comes back in about 8 months, with 30 hours of work per week.
Mundyo estimates, data as of 2026-11-02.
See the numbers for my countryFree, no account, in the currency of 247 countries.
The numbers
| Country | To start | Net per month (month 12) |
|---|---|---|
| Nigeria | 376,000 NGN | 226,000 NGN |
| Kenya | 102,000 KES | 29,100 KES |
| India | 53,000 INR | 21,200 INR |
| Philippines | 49,800 PHP | 17,800 PHP |
| South Africa | 16,800 ZAR | 5,590 ZAR |
Amounts adjusted to each country's price and income levels.
The problem
Low-income households and smallholders almost never have insurance: a death, a hospital stay or a bad harvest can push them into hardship.
The solution
Become an agent or sub-agent of a licensed insurer and sell simple, low-premium products, explaining the cover and helping with claims.
Your customers
Families, small farmers, market traders, cooperative members, savings groups and associations.
How you make money
Commission paid by the insurer on each premium collected, often a few cents to a few euros per policy per month.
Competition
Insurer agents, microfinance institutions, mobile payment operators selling insurance, savings circles and family solidarity.
Who has an edge
A respected community member, organised, able to explain simply and recruit a small team of sub-agents.
The risks
Very low commission per policy, intermediary registration required in most countries, distrust if a claim is badly handled.
The first 3 steps
- Contact licensed insurers offering micro-insurance and their agent terms.
- Check and complete the local intermediary registration requirements.
- Hold three information meetings in cooperatives or savings groups.
How the numbers are calculated
Example in a high-income eurozone country, at month 12: revenue €1,000 − costs €400 = €600 net per month. Revenue: 500 policies × €2 monthly commission. Costs: travel, phone, information materials, social contributions. For other countries, Mundyo adjusts the starting budget to the price level (World Bank) and the income to prices and customers' purchasing power, then converts at the day's exchange rate.
Frequently asked questions
How much does it cost to start: Micro-insurance agent?
About 376,000 NGN (Nigeria), 102,000 KES (Kenya), 53,000 INR (India), depending on the country. Mundyo calculates the amount for 247 countries.
How much can you earn per month?
After 12 months, about 226,000 NGN (Nigeria), 29,100 KES (Kenya), 21,200 INR (India) net per month, after costs.
How long until I get my starting money back?
About 8 months, with 30 hours of work per week.
What are the risks?
Very low commission per policy, intermediary registration required in most countries, distrust if a claim is badly handled.
Where do I start?
1. Contact licensed insurers offering micro-insurance and their agent terms. 2. Check and complete the local intermediary registration requirements. 3. Hold three information meetings in cooperatives or savings groups.
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