Insuring Women’s Futures is a voluntary, market-led programme established under the Chartered Insurance Institute to improve women’s financial resilience. It brings together a cross-section of business leaders, experts and influencers drawn from policy, regulation, academia and the third sector to support making lasting change. For the past three years, these contributors have shared their insights, experiences and expertise.
The result is a series of ambitious, practical Manifesto recommendations.
Insuring Women’s Futures has identified ten overarching recommendations where interventions can be made to improve financial resilience for women and wider society in the UK. The recommendations take into account how life in the UK is changing and the implications for all of our financial resilience, now and in the future. The interventions combine policy and practice and are centred on where the most impact can be made, targeting Moments that Matter across women’s financial life journeys.
- Inspiring young women to own their financial future
- Pensions equality in the workplace
- Equal pension rights for those on low pay
- Workplace flexibility and financial wellbeing to address the impact of part-time on pay and pensions
- Financial engagement and wellbeing strategies that reflect women’s whole life journeys
- Insurance and financial services’ role in supporting financial futures
- Fair pensions outcomes for those in relationships and for break ups
- Pensions for carers and a national conversation about caring
- Gender-disaggregated data and use in policy and practice
- Female Financial Resilience Forum
These Moments that Matter impact women across the life stages from girls to elderly women according to individual life journeys. For example, becoming a mother or caring for an elderly relative have different consequences depending on whether and how women are working, studying or are in good or poor health.
The 6 Moments that Matter
- Growing up, studying and re-qualifying
- Entering and re-entering the workplace
- Relationships: making up and breaking up
- Motherhood and becoming a carer
- Later life, planning and entering retirement
- Ill-health, infirmity and dying
12 Perils and Pitfalls
By analysing women’s life circumstances, the decisions women take and the life events women face, the research highlighted key differences in men’s and women’s risks in life. 12 Perils and Pitfalls have been identified as the top financial risks faced by women through the life course. In addition, the research identifies patterns in how the Perils and Pitfalls impact women’s financial resilience at different life stages on the Female Financial Life Journey, with the 6 Moments that Matter serving as key intervention points where meaningful change can be made.