Among the different challenges experienced by the inclusive insurance space, narrowing the gender gap remains one of the most important. While many industry layers recognise this issue, the lack of widespread availability of gender-disaggregated data is a consistent barrier. This is an essential requirement to understand women’s specific needs. The lack of information on women policyholders was reflected in the Landscape of Microinsurance 2024: fewer than half of the products covered in the report had information on female lives covered. Despite this, a few initiatives have been launched to improve microinsurance uptake and use among women.
How the Superadoras campaign started
One example is the Superadoras campaign in Argentina. Defined as “a person or thing that leads to improvement or triumph over challenges”, this is a public–private collaboration among several insurance companies. These include CNP Seguros, La Segunda, Río Uruguay Seguros, Sancor Seguros and San Cristóbal Seguros. The initiative is supported by A2ii (now part of CGAP), and the International Association of Insurance Supervisors (IAIS). Collectively, they aim to improve women’s access to insurance.
The campaign started during the 2nd Inclusive Insurance Innovation Lab organised by A2ii between 2020 and 2021. Initially, before attempting to scale insurance products, the programme looked to improve women entrepreneurs’ understanding of insurance and how it can help them manage their everyday risks. Currently, the programme is focused on strengthening insurance culture among women entrepreneurs. The next phase will involve working with Pro Mujer, a microfinance institution, to promote greater risk awareness through financial education. The goal is to enable women entrepreneurs to make informed decisions and encourage greater uptake of insurance.
What led to the launch of Superadoras
The idea behind Superadoras was driven by low levels of financial and insurance literacy in Argentina. Both these factors pose a significant barrier to the increased adoption of inclusive insurance. As in other low- and middle-income countries, low-income individuals and communities have limited knowledge of risk management tools and their benefits. Insurance is often seen as
distant, complex or irrelevant to everyday life. This gap in perception and a lack of culture have made it difficult for individuals and micro-entrepreneurs to recognise insurance as a valuable financial protection mechanism.
Box 1: Details on the Superadoras The Superadoras was launched as a natural continuation of the “Mujeres y Seguros” project. While the initial phase identified key barriers, it has moved into implementation. The initiative combines awareness, education, and product innovation, with a focus on practical solutions for women entrepreneurs. Product innovation centred on “insurance bundle” for women. This is combined of insurance products, where each participating insurer contributed a specific component. The bundle includes health, life, personal accident, mobility and personal belongings (e.g., handbags and mobile phones). These reflect the real risks faced by women entrepreneurs. A coordinated digital campaign (Mejor con Seguros) has been used to position insurance as a relevant and accessible tool for women. Through simple, relatable content on social media, the campaign focused on explaining the everyday value of being insured. The campaign was designed to help women better understand risks and the role of insurance in protecting their businesses and livelihoods. |
For insurers in Argentina, it had become clear for some time that improving access to insurance requires more than just launching new products. There is a need to strengthen financial education, build trust and improve awareness on how insurance works and why it matters. When seen through a gender lens, this challenge becomes more acute. Women entrepreneurs face barriers to accessing financial services and risk protection mechanisms, often while running small businesses and balancing household responsibilities.
Charting the impact of Superadoras on insurance uptake among women
The initiative has so far led to several results. One of these is the establishment of a collaborative space for insurers to work on common challenges related to promoting insurance education. Participating insurers have been able to learn from their respective experiences, insights and perspectives. This has enabled insurance companies to develop and strengthen a collective approach to growing insurance awareness.
Box 2: Highlighting the results of the Superadoras to date So far, the initiative has seen progress in terms of awareness and engagement. For instance, the online campaign reached over 250,000 people, generated more than 138,000 interactions and produced 1,851 leads across participating insurers. These results show the initiative’s effectiveness in generating interest among women. However, conversion into actual policies has remained limited. This is due to persistent barriers such as financial literacy, trust and product understanding. As a result, the project is currently being strategically redefined, with a stronger focus on education, distribution, and product adaptation to better translate awareness into uptake. |
Direct engagement with women entrepreneurs is a key result. Insurers have acquired a better understanding of the everyday realities, concerns and priorities of women managing small businesses. Much of this was gathered through interviews, conversations and other interactions,
This direct dialogue between insurers and customers has also yielded valuable insights: how women perceive risk, the financial challenges they face and the barriers that prevent their use of insurance as a protection tool.
Such lessons have allowed the participating insurers to move beyond traditional assumptions and design a stronger, more relevant awareness campaign. This includes aligning new insurance products with the needs and expectations of women entrepreneurs. Insurers are aware that growing insurance adoption can be a gradual process. Despite this, the Superadoras campaign has already strengthened trust, improved insurance awareness and developed the foundations for greater access to insurance.
Box 3: The role played by Río Uruguay Seguros (RUS) in the Superadoras campaign RUS is a core member of the consortium behind Superadoras. The company actively promotes inclusive insurance and gender-sensitive solutions through sector collaboration and product innovation. Within Argentina, RUS has developed insurance solutions specifically for women. These include health protection products as well as coverage aimed at protecting assets and economic activities, such as their homes and small businesses. RUS has been part of the initiative since its inception, when Argentina was selected as one of the winning countries of the 2nd Inclusive Insurance Innovation Lab 2020–21. Since then, RUS has actively contributed to the design and development of each phase of the campaign – working closely with other insurers. The company has provided technical expertise and sectoral knowledge. These inputs have been used to shape strategies to improve insurance awareness. The campaign is an important part of RUS’ inclusive insurance strategy. It is seen as a valuable effort towards supporting women entrepreneurs and growing insurance uptake. The initiative offers potential for new strategic partnerships, which may serve to improve its outreach and effectiveness. In addition, it reflects RUS’s commitment to designing protection mechanisms that are more inclusive, accessible and responsive to different social realities. To monitor its progress within the initiative, RUS has developed a data-driven approach to understanding and serving women. Women currently represent around 27% of RUS’s insured portfolio (over 133,000 women); their participation has grown by 36% between 2019 and 2023, outpacing the growth of male policyholders. Women also play a key role in distribution: female insurance agents represent 38% of the network, with a 98% increase between 2019 and 2023 – well above the national average. |
Where Superadoras sits among existing efforts to grow insurance for women in Argentina
Initiatives to improve women’s access to financial services, including insurance, are linked to wider efforts to improve financial inclusion and to promote financial literacy. In Argentina, programmes that focus on women’s uptake of insurance are still nascent. Some of these initiatives may be connected to the global agenda on inclusive insurance and gender equality.
Several local actors have been pursuing individual strategies to strengthen women’s financial capabilities and access to protection mechanisms. These individual efforts typically see insurers, development partners and other organisations exploring how to include gender perspectives in financial education. However, to date, the Superadoras marks the first such industry-level initiative – one that is gradually leading to greater insurance awareness among women in Argentina.