Insurance Awareness Day: Get covered!

Almost one and a half years ago, we drew attention to the gender insurance gap for the first time. Unfortunately, little has changed since then

Article

2 minute read

2021-06-28

Insurance awareness day takes place on the 28th of June. This day presents an opportunity to consider whether you’re insured enough or if you’re getting the best deal you can on your active insurance policies. Women in particular get less out of insurance than men. What’s more, many people aren’t even aware of this gender insurance gap. Last year, we focused on this topic for the first time. We are now using Insurance Awareness Day to reflect on this disparity. So, what is Getsafe’s position on the insurance gender gap, how much has changed over the last 18 months, and what can we do to close this gap?

Closing the Gender Insurance Gap: A Slow Process

Statistics show that women are not as insured as men. The insurance gender gap is still an issue.

Let’s break down the numbers. 37% of Getsafe customers are female and 63% are male. This trend corresponds to figures from the previous year. In the under-25 age group, 46% of customers are female – a 2% increase compared to March 2020. The number of female customers under 30 has also increased from 41% to 44%. This shows that digital insurance is closing the gender insurance gap – just very slowly.

Our goal is clear: We must provide insurance equally – regardless of gender. For this reason, transparency, simplicity, and good value for money are top priorities for us.

Awareness must be gender neutral

In today’s society with the many insurance options available, women don’t have to be underinsured. Nonetheless, it’s important to make people aware of the issue. What many people don’t know, for example, is that insurance companies were only banned from offering gender-based rates since 2011. However, outdated contracts with potentially unfavourable conditions were not automatically adjusted, which means many women don’t have a modern and fair policy. We therefore ask you to use Insurance Awareness Day to think about your own situation. What do you need to know? Do you have the best coverage for your needs?

We’ll be preoccupied with this topic for some time. Our ultimate aim is to close this gap. You can get more information about the gender insurance gap and how Getsafe is helping to eliminate it in our blog article on International Women’s Day.

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Author: Elisabeth