Providers of Micro Insurance products
Real-Access Software is provided free of charge for insurance products that fall under the heading : micro insurance. In this way, Team RealXS aims to demonstrate that efficient insurance products can be offered and processed at minimal cost.
Insurance products are still not a common good in developing countries.
Providers of insurance products in developed countries, have not always marketed reliable insurance propositions. Only through transparency and insightful financial records, auditors can audit such providers more efficiently. The cost price of Micro insurance products is very low and thus should not be burdened with hefty licence fees and high auditor fees.
Since micro insurance products are meant to provide basic coverage at minimal premium, it is crucial that distribution and handling costs are only a small part of the premium. And therefore, more money is left for providing an adequate insurance product.
Since Team RealXS has paid maximum attention to transparency and efficiency, the chances of unlawful appropriation of premium funds are minimised.
An adequate audit of the financial records is sufficient if one wishes to obtain certainty about the use of premium funds and benefits.
Microinsurance: licence free of charge
The insurance market in the developing world is still in its infancy.
That is why we do not charge any licence fees for Micro Insurance insurance products that legal insurers wish to offer there.
Team RealXS thus wants to contribute to the success of such initiatives.