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22 October, 2021 –
Olajumoke Odunlami/Oyinkansola Adewunmi
Making Insurance Work for Women
SHEFORSHIELD PROGRAM
Lagos
MunichRe Conference | 25th October, 2021 Confidential2
TABLE OF CONTENT
1. Introduction
• Program Genesis & Objectives• The Journey so far
2. The Importance of Data
3. Future Plans & Recommendations
Introduction
AXASheforShield Program Genesis & Objectives
4
In 2015, AXA Group and IFC co-published SheforShield: Insure Women to Better Protect All report (Nigeria isprofiled from Page 129). which highlights the largely untapped women’s insurance market and the $1.7 Topportunity it represents to the insurance industry by 2030. Following the report launch, SheforShield pilots werekicked off in India (Bharti AXA) and Nigeria (AXA Mansard) in October 2016 with the following goals:
MunichRe Conference | 25th October, 2021 Confidential
The Journey So far…D
AT
A G
AT
HE
RIN
G A
ND
AN
ALY
SIS •Carried out internal
research and dataanalysis in early 2017
✓Analyzed findingsfrom differentexisting researchreports
✓Gathered dataacross all ourbusinesses which wethen mined andsegmented to helpus identify productpurchase trends andascertain ourcustomers needs
RE
SE
AR
CH
• Commissioned aresearch to betterunderstand theneeds,preferences, andpain points forthree women’ssegments-Entrepreneurs,Professionals andLow-Incomewomen- in Nigeria
TR
AIN
ING
S
•Kicked off GenderSensitivity Trainingsin July 2017, forProject TeamMembers, Advisors,and SeniorManagement Staff.The training is givenover 3 ½ days, andlooks to enhanceInsurance agentsskills to becomewomen customers’trusted advisors.
PA
RT
NE
RS
HIP
S/S
PO
NS
OR
SH
IPS •Partnered with
organizations withsimilar objectives andwe have had theopportunity to sponsorand speak at many ofthese partners’ events(conferences andworkshops)
•Signed a partnershipagreement with WimBizto educate Nigerianwomen on theimportance ofinsurance as a riskmitigation tool.
SH
E IN
ITIA
TIV
E &
WO
ME
N’S
NE
TW
OR
K
•Launched the She(Super Hero Everyday)initiative, whichanchors the AXAMansard She for Shieldprogramme andsolutions under acommon brand, at the2017 WIMBIZ AnnualConference
•Launched the AXAMansard InternalWomen’s Network in2018
•This year, we launchedthe ‘SHE is in CHARGE’Webinar, a platformtargeted at upwardlymobile women (bothfemale employees andwomen externally)
MunichRe Conference | 25th October, 2021 Confidential5
The Importance of Data
The Importance of Data
MunichRe Conference | 25th October, 20217
How did Data help us? What did we use it for?
Confidential
• We couldn’t have gone far without data. The research and insights gathered allowed us to discover and hear what women’s risks were
• We were able to ascertain our benchmark and commence consistently tracking the impact of our initiatives• We dimensioned our portfolio and the results led to us being more intentional about selling to Women• We started to report and take a closer look at Women Customer vs. Men Customer numbers. This has driven us
to brainstorm and develop ideas geared towards having a more gender balanced portfolio• Standardized reporting has helped to ensure that we continued to work towards and deliver on agreed
objectives and initiatives as an organization
Plans for the Future & Recommendations
Plans for the Future & RecommendationsWhat must we do to sustain the momentum and guarantee success?
9
Leverage on data, tracking and reporting
• Regular review and analysis• Continuous performance
monitoring and tracking
Confidential
Develop Test Learn Refine
MunichRe Conference | 25th October, 2021
Strengthen Partnerships and Drive initiatives
• Deepen existing relationships
• New Partnerships
Implement CVP 2• Obtain approval and roll
out products
Continue Gender Sensitivity Trainings
• Hold refresher trainings• Include as part of
onboarding process for new recruits
Success factors
Thank you
Contact Information
Contact Details
MunichRe Conference | 25th October, 202112 Confidential
Oyinkansola AdewunmiHead, Advisor Support and Engagement
Oyinkansola Adewunmi
Olajumoke OdunlamiChief Customer & Marketing Officer
About Us
AXA – A Global Leader In Insurance And Asset Management
166,000 employees
and distributors
Based in 64 countries
Serving
107 million customersExisting AXA locations
€104BN €6.0BN €62.4BN €1,429BN
Revenues Underlying Shareholders’ Assets under
earnings equity management
14 MunichRe Conference | 25th October, 2021 Confidential
15
AXA in Nigeria: AXA Mansard
AXA Mansard
Business Segments
AXA Mansard is a non-banking financial services company and a member of the AXA
group; the largest insurance brand in the world. It comprises AXA Mansard Insurance,
AXA Mansard Investments, AXA Mansard Health & AXA Mansard Pensions.
Health Management e.g.HMO, retail health insurance, Third-party
administration etc.
Pensions Management e.g.
Retirement Savings Account,
Micropensions etc.
Investment & Asset
Management e.g. mutual funds,
customized portfolios, treasury
bills etc.
Life & General Insurance
e.g. travel insurance, motor, life insurance. Education plan etc.
N92.3BNTotal Assets
N25.3BNShareholders Funds
N43.6BNGross Premium Written
AXA Mansard Group Financials
Retail Distribution Network
Bancassurance Sales Offices4 Regional Offices 2 Branch Offices21 Welcome Centres
Digital Assets
N2.9BNProfit after Tax
MunichRe Conference | 25th October, 2021Confidential
From CVP to actual productsThe insights gathered guided the creation of AXA Mansard customer and agent profiles which were crucial to the development of the Customer Value Propositions
MunichRe Conference | 25th October, 2021 Confidential16
