AIA Women's Insurance program

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This project builds on IFC's successful launch of the SheforShield: Insure Women to Better Protect All report in September 2015. The report highlights that the women's market will represent a $1.7T opportunity for the insurance industry by 2030, 50% coming from ten emerging countries alone. It recommends insurers to identify and target women based on their fast changing socioeconomic-and income status. Hence, the objective of this project is to support AIA Sri Lanka in developing its Women's Market approach and creating solutions to help increase Sri Lankan women's financial protection and risk mitigation mechanisms. IFC will work with AIA Sri Lanka in piloting the program to increase women's awareness of insurance and customize products to better address their needs. Through the project, IFC and AiA Sri Lanka will target women as retail and low-income clients, entrepreneurs, and women within the distribution/sales force. E&S Risks/Impacts and Mitigation Performance Standard PS 1. Assessment and Management of Environmental and Social Risks and Impacts Description and Potential Impact As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, the IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life-cycle of the project. Mitigation IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.