As women’s risk mitigation needs continue to grow, a strong business case for insurance companies and financial institutions to deliver solutions tailored to the Women’s Market is emerging. This session explored the GBA member experiences in developing insurance value propositions for women customers and the strong business case they have found. Banco BHD León and Banco Pichincha revealed that insurance ties directly to the banks’ bottom line by providing a new source of revenue and growing the client base. Clients with insurance at those banks also have lower NPLs and higher customer engagement. Tying together insights from the recently concluded GBA Working Group on Insurance for the Women’s Market, Hilary offered insights and data points on how insurance for women is a profitable value proposition for both banks and insurance companies.
MICHAEL J. MCCORD Facilitator Managing Director, MicroInsurance Centre at Milliman
SARA FERT Group Customer Director, AXA
MARÍA BELÉN SÁNCHEZ VALDIVIESO Insurance Business Manager, Banco Pichincha Presentation (members only)
PURA MÉNDEZ Manager of Women’s Market, Personal and Business Banking; Banco BHD León Presentation (members only)
HILARY NICHOLS Presenter Manager, Peer Learning and Knowledge; Global Banking Alliance for Women
We can develop products that focus on women’s needs and also have benefits for men. — Michael J. McCord
Women are more risk aware – they may not take the same level of risk and are willing to protect themselves, their families and their businesses. — Sara Fert
Our products for men and women are the same. The difference is how you reach the men and women and how you explain the products. — María Belén Sánchez Valdivieso
At Banco BHD León we have proven that including insurance in our value proposition is profitable and good value for the bank. — Pura Méndez