Page 77 - The Insurance Times December 2024

Deanne Bezuidenhout, Head of ESG, Hollard, South highlighted AIA's successful gender-inclusive hiring practices
Africa and their impact on client satisfaction. Prapti Sherchan in-
Shubasish Barua, Head of Impact Business, Green troduced In4Women, a Community of Practice launched by
Delta Insurance, Bangladesh IFC and ILO to increase insurance knowledge about the
women's insurance market. DVS Ramesh discussed IRDAI's
Ashok Shah, Group CEO, APA Apollo Group, Kenya regulatory perspective on fostering a female-friendly work
environment in the insurance sector across India.
Facilitator: Lisa Morgan, Technical Specialist, ILO, Switzer-
land
Key Takeaways:
Hiring more female agents not only addresses gender-
Summary: specific client needs but also increases financial inclu-
This session focused on balancing profitability with client sion among women.
value in inclusive insurance. Melinda Grace highlighted
CARD Pioneer's success in providing value-driven The potential for gender-focused insurance products to
create a market valued at up to $1.7 trillion by 2030,
microinsurance products that foster trust and long-term
particularly in emerging markets.
loyalty. Ashok Shah presented case studies from Kenya
where innovation in digital claims processing improved effi- The In4Women initiative serves as a resource for
ciency. The speakers stressed the need for customer-focused insurers seeking to enhance gender diversity and inclu-
products that not only cover risks but also offer long-term sion.
value.
Plenary 6: Financial Resilience Towards Cli-
Report - Day 4 (October 24, 2024) - ICII mate Adaptation
2024
Hosted by: UNDP
Plenary 5: The Business Impact of Female
Speakers:
Agents and the Insurance Sector as an Em- Sabnam Shivakoti Aryal, Joint Secretary, Ministry of
ployer of Choice for Women Agriculture, Nepal
Musa Lukwago, Principal Economist, Ministry of Fi-
Hosted by: ILO and IFC
nance, Planning and Economic Development, Uganda
Speakers:
Patricio Salas, Executive Secretary, FEDESEG, Ecuador
Prapti Sherchan, Operations Officer - Gender and Eco- Ajaykaran Singh, PMBFY National Project Coordinator,
nomic Inclusion Department, IFC, Nepal UNDP India
Thushari Perera, Director of Human Resources, AIA Sri
Lanka, Sri Lanka Facilitator: Enock Sing'oei, Agricultural Insurance Special-
ist, UNDP IRFF, Kenya
DVS Ramesh, Chief General Manager, Insurance
Regulatory and Development Authority of India (IRDAI),
India Summary:
This session focused on the intersection of climate resilience
Facilitator: Lisa Morgan, Technical Specialist, ILO's Impact and financial insurance solutions for low-income populations.
Insurance Facility, Switzerland Ajaykaran Singh highlighted India's Pradhan Mantri Fasal
Bima Yojana (PMFBY) as a model of government-led climate
Summary: risk insurance for farmers, which has integrated technology
This session explored the role of women as both agents and to facilitate swift payouts after climate-related losses.
employees in the insurance sector, emphasizing how women Sabnam Shivakoti Aryal shared Nepal's approach, empha-
can shape and enhance inclusive insurance. The speakers sizing the collaboration between government agencies and
shared insights into how hiring female agents and workforce private insurers to enhance the resilience of agricultural
members can improve product design, distribution, and communities. Musa Lukwago from Uganda discussed the
overall market penetration by addressing women's unique importance of leveraging public-private partnerships for
needs and risk profiles. Thushari Perera from AIA Sri Lanka scalable climate resilience.

70 December 2024 The Insurance Times