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Taskforce to take on underinsured female population

Taskforce to take on underinsured female population | Insurance Business

Taskforce to take on underinsured female population
“Women are less engaged with insurance protection products and services than men, and as a consequence are under-protected.” These were the words of the first female chief executive of Lloyd’s, Inga Beale.

As part of the Insuring Women’s Futures (IWF) programme, a new taskforce has been formed to increase the risk resilience of women. The goal is to drive positive change, with the taskforce collaborating with a number of working groups.

The Chartered Insurance Institute (CII), which leads IWF, cited these focus areas for the taskforce: improving risk awareness among women and engagement with existing offerings; developing joined-up policy interventions; and identifying new and enhanced insurance solutions to women’s risks.

Here’s the list of the firms and their senior representatives that make up the taskforce:
  • AIG: Anthony Baldwin - CEO, AIG Europe
  • Aviva Life: Andy Curran - MD, pensions & investments
  • AXA: Darrell Sansom - Chief marketing officer, AXA UK
  • Hiscox:  Joanne Musselle - Chief underwriting officer
  • Legal & General: Cheryl Agius - CEO, general insurance
  • Liverpool Victoria: Mike Crane - MD, LV= Broker
  • Money Advice Service: Helen White - Head of financial capability
  • Swiss Re: Russell Higginbotham - Head of life and health products
  • Scottish Widows: Jackie Leiper - Director of employer relationships
  • Virgin Money: Emily Cox - Director of public affairs
  • Vitality: Sally Burrowes - Director of legal & business support
  • Zurich: David White - MD, life & savings
“Women today are increasingly left high and dry as the daily pressure of modern life rises, while the historic support systems recede,” said CII chief executive Sian Fisher. “It’s a problem that affects men too, but to a lesser extent.

“This new taskforce will collaborate to drive real change for the benefit of society, helping to raise awareness and engagement among women of the risks they face in life, and how our profession can empower them to improve their resilience.”
IWF patron and CII president Beale, who said the abovementioned under-protection is a risk not just for women but for society, added: “This new taskforce will bring together expertise in a range of areas to work with the insurance profession to address this issue and drive real change.”

Related stories:
Government input crucial to addressing the UK’s ‘protection gap’
Women in Finance Charter gets insurers’ support