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CII – Insuring Women’s Futures

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Pledges and commitments

As part of our manifesto proposals, we are encouraging employers in the insurance and personal finance sector to sign up to two pledges below, and show leadership in support of women’s financial resilience with commitments of support.

flexible working pledge
Organisations who have signed up to the pledge ABI, AIG, AON, ARiS, Aviva, AXA, Beazley, BIBA, Cardano Group, Chartered Insurance Institute, Lincoln Pensions, Legal & General, Lloyd’s Market Association, LV=, NOW: Pensions, Miller Insurance, Personal Finance Society, Openwork, Phoenix Group, PwC, Record Currency Management, Scottish Widows, St. James’s Place, Swiss Re, Vitality, Zurich
  inclusive customer pledge
Organisations who have signed up to the pledge AIG, AON, Aviva, AXA, Beazley, Cardano Group, Legal & General, Lincoln Pensions, LV=, NOW: Pensions, Openwork, Phoenix Group, Scottish Widows, St. James’s Place, Swiss Re, Vitality, Zurich

Good practice guides


 Flexible working pledge logo The Financial Flexible Working Good Practice Guide




 Inclusive Customer pledge logo  The Inclusive Customer Good Practice Guide





Comments from the insurance profession:


AIG Anthony Baldwin,
Phil Wilcox,
“The insurance profession is built around risk: understanding exposure and helping clients to mitigate or transfer that risk. As such, AIG is proud to support the Insuring Women’s Futures programme. The shared mission to work together to improve women’s lifelong financial resilience by developing female financial awareness aligns with AIG’s existing work with organisations which are focused on inspiring girls of all ages and backgrounds to pursue STEM subjects. We are delighted to play our part in improving financial security for women and society as a whole.”


 Aon  Julie Page,

CEO Aon Risk Solutions

The workforce of the future will be increasingly flexible and the reality is currently that the vast majority of caring is undertaken by women and therefore, so is the majority of flexible working.

To make this work better for women – in fact all those needing flexible or part time working patterns – we need to provide guidance and support to help them minimise negative impacts on their future financial well being, their pensions in particular.

The pledge, which we support, points the way to practical information we, as employers, can make available to colleagues at the right times in  their working lives to increase financial resilience in later life.

It’s is also a very important step in the journey we are all on to improve gender balance in our firms, the industry and society as a whole.”


AXA Claudio Gienal,
Chief Executive of AXA UK and Ireland
Lucinda Charles-Jones,
Group HR Director
“AXA is proud to support the Chartered Insurance Institute’s Insuring Women’s Futures manifesto. I know that a number of people have been involved in this project from the very beginning, working with the brightest and best from across the insurance and financial services industries. This report is the first step to securing financial resilience for future generations. By working together, we can empower both women and men to take control over their finances, pensions, insurance and more – no matter what life throws at them.”


Beazley  Andrew Horton,
Chief Executive
“Insuring Women’s Futures has highlighted how society’s financial risks in life are changing and the vital role of insurance in helping secure all of our financial future.  Automation, technology, and developing more inclusive approaches to supporting the financial resilience of our own people and our clients is critical to the future success of our industry. I am delighted to pledge Beazley’s support to this important work on behalf of our profession.”


BIBA Steve White,
Chief Executive
“Brokers have a fundamental role in supporting customers and helping them towards greater resilience throughout their lives.  BIBA encourages an inclusive approach both to improving the gender balance within the insurance profession and in our member firms to support women as customers through relevant guidance and signposting, and by ensuring that our customers are treated fairly so that the individual’s needs are met at whatever stage of their financial life they may have reached.”


FCA Jonathan Davidson,
Director of Supervision – Retail and Authorisations
“Each of the 6 consumer outcomes that regulated firms are required to follow in order to satisfy the FCA’s principle of  Treating Customers Fairly have opportunities for firms to consider a gender inclusive approach. We welcome the Chartered Insurance Institute’s introduction of both the Financial Flexible Working Pledge and the Customer Financial Lives pledge. The Financial Flexible working pledge has potential to improve gender balance across the sector, and the Inclusive Customer Financial Lives pledge can ensure positive customer outcomes and experience in the General Insurance space.”


Legal & General Bernie Hickman,
“As a profession, we can do more to see through the eyes of our customers and understand their financial life journeys more holistically.  The Insuring Women’s Futures proposals will help raise awareness and join up initiatives across business, government and wider society to improve women’s financial resilience.  On behalf of Legal and General I’m delighted to do our part in supporting financial flexible working for our people and in further exploring ways to help customers in the moments that matter.”


Lloyd’s Market Association Sheila Cameron,
Chief Executive
“The Lloyd’s Market Association is committed to effecting positive change on behalf of its 58 managing agents and members’ agents.  As part of our ongoing focus on talent & diversity across the market, I encourage firms to engage with the guidance.”


LV= Mark Hartigan
“We are committed to action and bringing these pledges alive. We will focus on activity where the most impact can be made to benefit the long-term financial futures for everyone.”


NOW: Pensions Dawn Thirley,
Group HR Director
“NOW: Pensions is proud to support The CII Insuring Women’s Futures manifesto and sign up to the pledges to improve gender equality in our industry. It is important that we continue to support working mothers to ensure that they are not disadvantaged and have the same opportunities as others to work and progress in a rewarding career. We are proud to work alongside the IWF and will continue in our efforts to generate awareness and help close the gender pensions gap.”


 Openwork Claire Oldstein,
Chief Marketing Officer
“We are happy to offer our support to this initiative as we are certainly working towards meeting holistic needs of customers and from a colleague perspective we are committed to the developments as really good ideas.

These are definitely areas that we embrace and are aligned to our business goals”


 PricewaterhouseCoopers Laura Hinton,
Chief People Officer
“We know financial wellbeing is really important for all and that’s why we continue to lend our support to the Insuring Women’s Futures initiative. Along with other organisations, both large and small, we are committing today to ensure our people are prompted to consider the impact different choices they make throughout their life may have on their finances. As well as being important for wellbeing, this contributes to reducing the pay gap, and helps us all make informed decisions about working arrangements.”


Record Currency Management Steve Cullen,
Chief Financial Officer
“We are committed to supporting the financial wellbeing of our employees and we understand that there are key moments in life which often create financial challenges that disproportionately affect women.  As an employer, we believe we should provide the appropriate education, policies and processes to ensure our employees understand their finances and feel empowered to take control of them to secure their financial futures”


Scottish Widows Antonio Lorenzo,
Chief Executive
“I am delighted Scottish Widows is supporting this cross industry initiative.  Improving financial outcomes for women is vital to society as a whole, and an opportunity for Financial Advisers, Employers and Pension Providers to make a real difference.”


Swiss Re Tavaziva Madzinga,
CEO UK & Ireland
“We are delighted to support a “whole customer” approach and encourage other organisations to do likewise. We believe it represents an important step forward in building financial resilience especially for women.”


Zurich Tulsi Naidu,
“The Financial Flexible Working pledge is an important signal from employers that they will support their workforce to make decisions that are right for them.”


The Pensions Regulator Charles Counsell,
Chief Executive of The Pensions Regulator

“The gender pensions gap cannot be tolerated. This report highlights the numerous barriers that women still face in 2019 and provides a route map for addressing this long-standing financial inequality.”


Comments from wider societal bodies:


Centre for Ageing Better Professor Dame Carol Black,
ChairAnna Dixon,
Chief Executive
“In the last 13 years my work has taken me into the world of women in the workplace first as an Advisor to the Government on Health and work, and more recently as the Chair of the Board of the Centre for Ageing better and to the world of young women in higher education as Principal of Newnham College Cambridge. Each of these settings as shown me that many women lack financial resilience. This manifesto developed by the Insurance and Personal Finance profession is a call to all who can to add support to change this so that the women of today and those of future are better served.”



“As more of us live longer, we all need to take action earlier in life to enable us to stay healthier, work for longer, and save more. This is true to an even greater extent for women. Although the difference in life expectancy is narrowing, a woman of 65 is likely to have to fund 21 years of retirement compared to a man’s 19.

Yet, we know that too often women face extra challenges to becoming financially resilient for their later lives. Women pay a financial penalty in terms of gender pay gap, pensions saving and are more likely to take on unpaid caring. All of this means that support, advice and guidance to plan ahead for different life stages is essential.”


Citizens Advice Andrew Seager,
Director of Business Development
“The Citizens Advice Bureau exists to give people the knowledge and the confidence they need to find their way forward. We will be looking at how this research can be incorporated into how we continually improve our information, guidance and advice offer to our clients”


CIPD Charles Cotton,
Senior Performance and Reward Adviser and David D’Souza,
Head of engagement and London
“The CIPD’s UK Working Lives survey illustrates the need for a new flexible working policy framework, and we are committed to improving the quality of work through enhanced promotion of good practice.  Part of that good practice must be for employers to help colleagues to understand and manage the financial consequences of flexible working, so we encourage adoption of the Financial Flexible Working pledge.”


 Fair4AllFinance  Sacha Romanovitch,
“A significant proportion of people in vulnerable circumstances in the UK are women. This report highlights the critical need to understand the lives of women and how the current system fails them on many levels. It also provides the financial services industry and wider policy makers with a fantastic insight into the clear and, in many cases, straightforward changes that could make a massive difference to the financial security and wellbeing of women across the UK. At Fair4All Finance we will be using the insights in our work in increasing the financial resilience of those in vulnerable circumstances in the UK and would encourage others to do the same.”


Federation of Small Businesses Craig Beaumont,
Director, External Affairs and Advocacy
“The Federation of Small Businesses recognises the important role that small employers have in helping employees of any gender or age achieve financial wellbeing in balancing their career with caring or parental roles.  We encourage firms of all sizes and types to adopt this Financial Flexible working pledge.”


Relate Aidan Jones
Chief Executive
“Support during separation and divorce is a point in life when people often seek support from Relate. It can be a very difficult time and we work to help people get through it in the best way possible. We’re grateful to Insuring Women’s Futures for highlighting this ‘moment that matters’ and the practical measures people going through it can take”


Surviving Economic Abuse Dr Nicola Sharp-Jeffs – Founder & Director “The financial services sector has an important role to play in tackling economic abuse – both in helping to prevent it, and in responding appropriately to victim-survivors. I am hugely encouraged by the emphasis which Insuring Women’s Futures has placed upon this issue.”


UK Youth Anna Smee,
Former Chief Executive
“More needs to be done to support girls and young women in developing a healthy relationship with money and their future financial lives. We support the adoption of the financial life journey and the Moments that Matter in youth engagement programmes to empower young people to build bright futures, regardless of their background or circumstances”


Women Returners Julianne Miles ,
Co-founder and CEO
 “Returning to a rewarding career after a career break for childcare or eldercare remains a challenge for too many women.  I support all the guidance and support being developed by the insurance profession which will help empower parents and carers to consider the long-term financial implications of both career breaks and flexible working, and so to secure a better financial future for themselves.”


Working Families Jane Van Zyl,
Chief Executive
“The impact of parental and caring responsibilities still overwhelmingly fall on women, and the impact on their financial security cannot be ignored.  We will build financial topics questions into our guidance and promote the creation of enriched workplaces where parents, carers and others can work flexibly to achieve career success.”