Bridging the Gender Gap: The role of the Insurance Supervisor
Integrating a gender perspective in regulation and supervision is key to increasing financial inclusion. Compared to men, women form a larger proportion of the underserved segment of the population especially in developing countries. Lack of data, socio-cultural barriers and low levels of financial literacy are often cited as some of the main factors behind this. Given the role that women play in managing household risks, there are wider benefits to societal development if insurance products that fit their needs are designed. Insurance supervisors can play an important role in enhancing women’s access to insurance through incorporating gender perspectives in relevant areas of regulation and supervision.