Micro Insurance Company and Lofte Kesho Are Partnering to Offer Digital Solutions to Livestock Farmers

NEW YORK, Aug. 25, 2021 (GLOBE NEWSWIRE) — Micro Insurance Company (MIC) and Lofte Kesho are partnering to offer digital solutions to livestock farmers in an effort to improve their economic well–being. Lofte Kesho, an integrated FinTech and AgriTech player, was created to help farmers collateralize animals as assets for financial benefits such as loans, working capital, cow replacement loans, and investment loans. They have also created unique systems for animal identification as well as the process of tokenizing animals using blockchain.

Lofte Kesho is partnering with Micro Insurance Company in an effort to strengthen their mission of helping farmers to unlock the financial benefits associated with their livestock. By partnering with MIC, farmers will now be able to insure their livestock, which gives them access to credit opportunities "" as they will now be able to use their insured livestock as collateral. This will help improve the financial state for many farmers. Furthermore, MIC is also offering a life and hospitalization cover to the middle and low segment Livestock farmers to safeguard them against many of the risks they face, so when the unexpected happens, they are able to bounce back swiftly.

Ms. Wairimu Njoki, Country Manager, Micro Insurance Company, says:

"We are pleased to be partnering with Lofte Kesho as they improve the inclusivity of livestock farmers for enhanced access to financial solutions. Farmers have always held assets through their livestock but are often locked out of financial access because historically, financial institutions have not considered livestock as a good form of security. By MIC insuring farmers' livestock, it has enabled financial institutions to get on board with accepting livestock as a secure asset, and thus, feel confident in accepting it as collateral."

Bernard Njathi, Co–Founder of Lofte Kesho, says:

"Our farmers are faced with multiple challenges. According to the World Bank, by the year 2050, food demand will increase by 70%. So what does this really mean? We need to support our farmers "" both our Crop and Livestock farmers. This is why Lofte Kesho Kenya Limited acknowledges that our livestock farmers are not necessarily poor but lack a supportive ecosystem that properly promotes and unlocks animal identification, valuation, insurance and animal collateralized loans. As a result, Lofte Kesho is excited to partner with Micro Insurance Company to further our aim of providing value–added services to livestock farmers in the areas of animal health, nutrition, and productivity. Our partnership with MIC will further enhance our ability to offer peace of mind to livestock farmers."

MIC and Lofte Kesho join forces to address both the financial and insurance inclusivity against the marginalized "" using the FarmTrek platform as a route to access these services. This partnership combines Lofte Kesho's knowledge of livestock along with MIC's expertise in product design to ensure optimal product consideration and adjusted premiums.

About Lofte Kesho

Founded in 2018 with headquarters in Kenya, Lofte Kesho is an integrated FinTech and AgriTech player offering an animal identification and traceability platform. In partnership with InfoCorp Technologies, Lofte Kesho has rolled out FarmTrek, a solution that brings inclusive financial services to the livestock industry in emerging markets via its blockchain–based platform. Lofte Kesho works with smallholder farmers to unlock financial benefits associated with their animals.

For more information, please contact Bernard.Njathi@loftekesho.com or visit: https://www.loftekesho.com/

About Micro Insurance Company

Micro Insurance Company (MIC) is a global insurance platform delivering technology, underwriting, policy management, and distribution. MIC provides insurance to platforms, micro & small businesses, and to the 4 billion people on the planet that are currently unserved. Whereas most insurtechs seek to improve existing monoline products and markets, we follow the concept of straight through processing. We do this in order to create highly relevant insurance products that we can offer globally at a very low cost via our platform to support people in their local communities. Micro Insurance Company is the world's first global end–to–end digital microinsurance platform that combines reinsurance capacity, in–country insurance licenses, world class distribution, and market leading AI functionality.

For more information, please contact wairimu.njoki@microinsurance.com or visit: https://microinsurance.com/


GLOBENEWSWIRE (Distribution ID 8315071)

Etan Hon Named Product Manager of Turbo Aftermarket Services for Nikkiso Cryogenic Services

TEMECULA, Calif., Aug. 25, 2021 (GLOBE NEWSWIRE) — Nikkiso Cryogenic Industries' Clean Energy & Industrial Gases Group (Group), a subsidiary of Nikkiso Co., Ltd (Japan), is pleased to announce that Etan Hon has been appointed Product Manager of Turbo Aftermarket Services (AMS) for the Nikkiso Cryogenic Services unit (NCS).

This addition to their management team supports the Group's objectives to further grow their AMS for Turboexpanders. The Turbo All Brands line will also expand to support and service more brands, including ACD, Rotoflow, Atlas Copco, and Cryostar among others.

Etan received a degree in Aerospace engineering from the University of California, San Diego. He started his career by providing oilfield services to customers within the oil & gas industry in Texas working for Schlumberger and Baker Hughes. In 2017, he joined ACD LLC as a Field Service Manager. After the acquisition by Nikkiso in 2019, he transitioned into the role of Service Manager of Turbo AMS for NCS and helped move the ACD Turbo AMS division into a new facility in Irvine, CA. He helped re–develop the standards and processes with the international service centers for the Turbo AMS in Irvine. The new structure has created a successful operating business locally and will ensure proper support to the Turbo AMS team globally.

"The NCS team is excited to have Etan in this new Turbo AMS Product Management role," according to Jim Estes, President of NCS. "His years of experience and focus on customer service has exceeded our expectations. I'm looking forward to his success continuing in this new role."

Nikkiso Cryogenic Services provides service and support globally, including locations in Malaysia, Germany, India, Australia, Taiwan and China as well as six locations in North America.

ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture engineered cryogenic gas processing equipment and small–scale process plants for the liquefied natural gas (LNG), well services and industrial gas industries. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Cosmodyne and Cryoquip and a commonly–controlled group of approximately 20 operating entities.

For more information please visit www.nikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:

Anna Quigley
+1.951.383.3314
aquigley@cryoind.com


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