Gender Agenda: Our collaboration with Regions and the IFC Women’s Insurance Program
Gender Agenda: Our collaboration with Regions and the IFC Women’s Insurance Program
Women in developing countries are particularly vulnerable to climate, financial and health risks due to environmental, political and social factors. As a result, the insurance industry has long seen women as a high-risk consumer segment and overlooked this market that has a significant potential for economic and social development. Based on lessons learned and progress achieved with implementation partners over the past 10 years, the GIIF program acknowledges that by empowering women with insurance protection, both economic growth and long-term shared prosperity are attainable and sustainable, since women are likely to reinvest their income in the education, health and wellbeing of their family and community.
With this idea in mind, GIIF will be conducting a study to evaluate the needs of rural female farmers in Nigeria, Sri Lanka and Zambia (countries with existing GIIF projects), to understand the current situation, and identify knowledge gaps in the women farmer insurance segment so that the insight gained could be leveraged during the design and implementation of gender-responsive insurance schemes going forward. For this study, GIIF collaborates with regional colleagues based in Africa and Asia, as well as with the IFC Women’s Insurance Program. This article offers an overview of their work, showcasing examples within their gender agenda.
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Photo Credit: Curt Carnemark / World Bank. Women in a market in Nigeria.