Purse Strings offers a 3-week online training workshop which provides insurance and financial professionals a step-by-step process on how to:
We know the power of the female market is $20 trillion…and growing! A recent study from BNY Mellon and the UN Foundation found that expanding women’s access to financial services could unleash $330 billion in global revenue annually.
According to Heidi DuBois, Global Head of Philanthropy and Corporate Social Responsibility at BNY Mellon, “Our hope is that financial services providers will design and market more products and services that fuel women’s economic participation, giving investors more options to invest with a gender-lens.”
Dubois also stated that expanding women's access to financial services and products would boost financial service firms - and the global economy.
Consider the following stats that confirm the power of the female market:
According to the World Bank, woman comprise 40 percent of the world’s workforce, yet they face a myriad of challenges in access to financial support.
A few years ago, I was intrigued when I came across a message in my inbox from Esther Dassanou, leader of the Women and Insurance program at the International Finance Corporation (IFC), the premier development finance organization and an agency of the World Bank Group.
“We are interested in creating a selling to women’s training specifically taking into account the particularity of the insurance industry, as well as unconscious biases which would prevent insurance agents from being successful in reaching women customers.
In searching for the best partners to assist us in creating the training I found your videos on the internet and I would be really interested to have a call with you to further discuss the topic and explore ways to work together.”
The person who wrote this email was using the words I have been strongly verbalizing for years: We need to educate financial institutions to focus on the female market.
I assumed Esther found me through my new company Purse Strings, which focuses on arming insurance and financial professionals with information and skills on how to reach, engage and earn the female dollar. But it was through outdated videos, created years ago, in my early days of heeding the call for financial institutions to focus on the female market.
And, I am honored to say Esther and I did work together. My consulting company, Provost Consulting, Inc., worked with International Finance Corporation (IFC), an agency of the World Bank Group. Together we created training for insurance and financial agents working in Nigeria, explaining why - and how - to work with women. The World Bank used this training as a model for several other countries.
“We used the Gender Sensitization (selling to the female market) with our client in Nigeria and will customize it for insurance companies in the Philippines, Ghana, Cameroon.”
“Overall the training is really well received and feedback has been very good. Following the training we can clearly see an increase in the number of women customers in our client’s portfolio.”
“We follow Purse Strings closely and feel it can be a model to replicate in other countries i.e. the Philippines.”
Marieme Esther Dassanou
Sector Specialist - Gender Secretariat
Since that email, I returned to my work on Purse Strings. I knew it was a vitally important issue, and the World Bank saw the same need to address and solve this problem in under-developed countries.
However, addressing women’s financial needs is not an issue restricted to under-developed countries: Most women in the United States are not prepared for their financial future – for many reasons.
At Purse Strings, we provide free online information and resources to empower women to make smart financial decisions for themselves and their future. We also provide the needed training insurance and financial professionals need to earn the female dollar.
I invite you to join our workshop to learn more about what insurance and financial professionals all over the world are finding out: https://pursestrings.co/expert/purse-strings-professional-workshops/.