1. GBA Women’s Market for Insurance Working Group
Session 2:
IS THERE A BUSINESS CASE FOR A WOMEN-FOCUSED INSURANCE CLIENT VALUE PROPOSITION (CVP)
April 5th, 2017

2. Today’s Agenda
Greetings, welcome and key follow-ups from the prior month (5 minutes)
New & relevant news of inclusive/women’s insurance (5 minutes)
Achievements of members during the prior month
Relating specifically to inclusive/women’s insurance and issues we have or will discuss. (5 minutes)
The Business Case: Setting the stage
How do we define a “woman” client for insurance?
What is a business case for insurance for women?
What are the components of a business case for insurance for women?
Presentation / discussion by Hellen Tomusange, Centenary Bank, Uganda (10 minutes)
Guided group discussion / questions (15 minutes)
Action statements by members on the business case for women’s insurance (5 minutes)
Next topic and homework (5 minutes)

3. Greetings, welcome and key follow-ups from the prior month
Everyone to review and comment on the proposed working group (WG) objectives
Everyone to confirm your participants in the working group by 17 March.
Everyone to prepare answers for the following two questions by 3 April:
What results do you expect from tailoring insurance for women?
Which (sex-disaggregated) KPIs do/should you collect to determine the success of your efforts?

4. New & relevant news of inclusive/women’s insurance

5. Achievements of members during the prior month

6. What results do you expect from tailoring insurance for women?
Direct Benefits from Women’s Products
New sources of revenue
Portfolio protection
Indirect benefits from Women’s Products
Client expansion
Client retention / loyalty
Competitive advantage
Improved portfolio quality
“Business Case” Definition
There is a business case when the investment of capital and other resources in women’s focused insurance are justified over time such that the benefits, costs and risks balance out to create a commercial rationale for a bank to enter and sustain a position in insurance tailored for the Women’s Market.

7. How do we define a “woman” client for insurance?
An insured?
Policyholder?
Employer policyholder?
Beneficiary?

8. What are the components of a business case for insurance for women?
Proportionate approaches
Processes
Observation
Client communications
Partnerships
Evolution
Long view
Cost / benefit
Business Case
Good products
Good Operations

9. Presentation / discussion by: Hellen Tomusange – Centenary Bank, Uganda
Objectives:
Changes in financial performance
Changes in retention
Changes in volume of clients

10. The business case for sex-disaggregated insurance: Collecting the data, and guiding the approach
“Sex disaggregating customer data is the first step to building a solid business case for a Women’s Market program.”
DOS AND DON’TS Do: Sex-disaggregate data from day one of program implementation Do: Set minimum essential indicators to measure Do: Establish a baseline Don’t: Ignore the need to get staff on board with the program Don’t: Underestimate the time and effort required to update IT systems Don’t: Forget that data is only as good as what you do with it
Source: in brief: The Power of Women’s Market Data: A How to Guide. GBA

11. Key Measures for sex-disaggregated products1

12. Key Measures for sex-disaggregated products2

13. Schedule

14. What will we do with today’s information?
Action statements by members on the business case for women’s insurance
What will we do with today’s information?

15. Next topic and homework:
Sort out your available data using the template (will be on Vault)
Follow up in (later) April, July and Oct.
Consider the following questions before the next call on May 3rd:
How do we get information about women’s unique risk management needs and preferences?
How can we develop products that satisfy the needs of women, and satisfy our objectives as discussed today?

16. Thank you!