What is Insuring Women’s Futures?
Insuring Women’s Futures (IWF) is a programme established by the Chartered Insurance Institute (CII), aimed at promoting and enhancing the insurance sector’s role in relation to Women & Risk.
In the UK alone, insurance contributes £29bn to GDP and employs 334,000 people. It plays a vital socio-economic role in relation to the women’s risk agenda, both as a provider of insurance risk solutions, and as an employer harnessing female talent, alongside lending support to women through a range of social responsibility activity.
As the leading professional body for the insurance and financial planning sector, the CII exists to promote higher standards of integrity, technical competence and business capability across the profession. This includes providing education and training, establishing professional standards and qualifications, and through this governing Chartered status for members and firms.
The evolving global socio-economic environment and the international nature of insurance business means that diversity is core to the future success of the profession. This includes not only the skills and experience of talent across the value chain, but also cultural diversity to ensure insurance business models are representative of the society served by the profession. Disruptive forces, including developments in regulation, capital, technology, and policyholder expectations, as well as new and growth markets, mean that diversity and, in particular, gender diversity is paramount. Further, the changing demographic of women in society, their increasing influence as domestic buyers of insurance, and commercially through enterprise initiatives and as business influencers, and the current profile of women in senior roles in the sector, means there is more to do to promote women in the insurance profession, both as clients and as employees.
The over-riding objective of IWF is to help reinvent insurance for women as clients and employees. IWF aims to help reinvent insurance for women with the following goals:
|——– IWF Committee ——–|
|Barbara Merry||ISC Committee member, iWIN Chair||IWF Risk solutions for women|
|Barbara Schönhofer||CEO, Schonhofer Executive Search||IWF Lead: Women’s careers in risk|
|Daniel Pedley||Strategic Adviser, CII||IWF Programme Secretary|
|Denis Duverne||Director, Deputy CEO, AXA||IWF Global Non-executive|
|Ian Simons||Marketing Director, CII||IWF Programme Lead|
|Dame Inga Beale, DBE
||CEO, Lloyd’s||IWF Patron|
|Jane Portas||Partner at PwC||IWF Lead: Women’s risks in life|
|John O’Roarke||Chairman, Horwich Farrelly||IWF UK Non-executive|
|Sara Ager||Legal Director, Commercial & Governance, EC3\Legal||Legal Counsel|
|Sian Fisher||CEO, CII||IWF Executive Chair|
The IWF Committee is responsible for setting the direction, and overseeing the overall delivery, of the IWF Programme of activity; it is supported by an IWF Working Group which is responsible for driving programme activity delivered by the CII team. The IWF Committee has formed an Advisory Panel of leading experts from both within and outside of the profession with whom to consult in relation to programme activity. It has also formed an Associate Group of organisations and parties sharing a complimentary ambition with the aim of collaborating to achieve common goals (including The Insurance Supper Club). Full and further details to be published shortly.
There is growing evidence to suggest that men and women have different needs in relation to risk, insurance and wider financial services.
Insuring Women’s Futures aims to pull together existing and new research, and champion the development of products and services, guidance and advice, and employment opportunities to redress the balance.
of women say they have little to no understanding of individual pension savings
of women don’t know what pension pot they’ll need to secure the retirement income they hope for