If there was ever any doubt as to how serious insurers are in supporting the Chartered Insurance Institute (CII) initiative Insuring Women’s Futures, then this latest industry development will offer some form of certainty.
It’s been announced that AIG, AXA, Beazley/London Market Group, Scottish Widows, Swiss Re, and Zurich all signed two pledges – one on flexible working for their staff and another involving consumers – to signify their commitment.
The first pledge, which was also signed by Vitality, is aimed at ensuring that employees will be prompted to consider the immediate and long-term financial impact every time they make changes to their working arrangements.
The inclusive customer financial lives pledge, meanwhile, will see insurers review and modify their practices accordingly so that women are made aware of the best outcome relating to their life circumstances.
“Proactive approaches to better inform customers, and to improve inclusive customer approaches within the profession will improve customer outcomes for all and society’s trust in insurance, personal finance, and wider financial services,” said CII chief executive Sian Fisher (pictured).
“Policymakers and regulators are increasingly holding financial services firms to account regarding their responsibility for customer outcomes. By signing up to these Insuring Women’s Futures, pledges the profession is supporting improving women’s financial futures.”