On August 16, a training session on the use of the FeMa Meter tool was held for insurance supervisors in Latin America. The event was jointly organized by A2ii and the Association of Insurance Supervisors of Latin America (ASSAL), with the support of its Inclusive Insurance Working Group.
The topic was initially presented at the bilateral meeting between A2ii–IAIS and the ASSAL Board, which took place during the ASSAL Annual Conference in Montevideo last May. Subsequently, a virtual meeting was organized to present the FeMa Meter to ASSAL members, along with a series of bilateral meetings held at the request of several supervisors to clarify questions.
The FeMa-Meter is an MS Excel–based tool designed to collect and review gender-disaggregated data that compares differences between men and women across various indicators. It integrates the most common indicators measured in two categories: (1) insurance usage and access; and (2) organizational diversity.
A total of 46 supervisors from 5 countries participated in the training. So far, supervisors from Costa Rica (SUGESE) and Guatemala (SIB) have already confirmed initiatives to adopt the FeMa Meter in their jurisdictions. This will enable them to raise awareness of gender-related issues and respond to the specific insurance needs of women, both in traditional and inclusive insurance, ultimately contributing to a more developed and inclusive insurance industry in their countries.
It is worth noting that women represent a business opportunity that remains largely untapped. According to estimates by the International Finance Corporation, the insurance market targeting women could reach USD 1.5 trillion by 2030.
Courtesy of A2ii
