Global Money Week

Insurance Europe is the European insurance and reinsurance federation. Insurance makes a major contribution to Europe’s economic growth and development. European insurers generate premium income of almost €1 170bn, employ over one million people and invest nearly €9 900bn in the economy.

The European insurance industry is already engaged in a wide range of initiatives to increase people’s financial literacy and understanding of insurance, a selection of which can be found on Insurance Europe’s website.

Owning your future

A prominent example is the industry’s work to inform people about the need to save for their retirements. Europe’s insurers have developed a variety of initiatives to address this issue, including teaching programmes in schools and in the workplace, as well as applications that allow people to track their pensions.

Raising awareness of the need to save money for retirement can help to take the strain off governments which continue to face a huge challenge in providing for their retired citizens. Given that retired populations are set to grow even larger over time, addressing this challenge now will be fundamental in ensuring stability and prosperity in European society.

Protecting your family

Insurance Europe has developed a short animation to explain the role of insurance in our society and the contributions it makes to the economy.

Belgium - Assuralia

Our Belgian member, Assuralia, is a partner of the Belgian initiative “Week van het Geld – Semaine de l’argent”, which is scheduled to coincide with Global Money Week. This initiative is led by the Belgian Financial Services and Markets Authority (FSMA).

One of the activities during the week will be an “information village” that will call at the cities of Brussels, Liège and Antwerp. At the Assuralia stand people can learn more about the “Beter Zeker” lessons programme that Assuralia helped to design for Flemish secondary schools. They can also receive more information about insurance through Assuralia’s website, along with its renewed consumer information website (www.ABCVerzekering.be /www.ABCAssurance.be) and brochures.

Assuralia will launch a new brochure on 14 March, which focuses on how to keep your insurance policies up to date. This brochure was developed because in Assuralia’s 2014 consumer survey the Belgian public expressed an interest in doing this periodically, with or without an insurance professional.

Netherlands – Dutch Association of Insurers

Our Dutch member, the Dutch Association of Insurers, is a partner of the Dutch “Week van het Geld”, which is scheduled to coincide with Global Money Week. This initiative is led by the “Platform Wijzer in geldzaken”, which promotes financial responsible behaviour and is set up by the Ministry of Finance.

Our Dutch member, the Dutch Association of Insurers, is a partner of the Dutch “Week van het Geld”, which is scheduled to coincide with Global Money Week. This initiative is led by the “Platform Wijzer in geldzaken”, which promotes financial responsible behaviour and is set up by the Ministry of Finance.

During the week various insurance professionals will visit classrooms to teach “Fix je Risk” insurance lessons to children at primary schools. In 2016 already more than 500 “Fix je Risk” insurance lessons have been taught so far and this will continue throughout the year.

The Dutch Association of Insurers has also joined up with the Nibud (the National Institute for Family Finance Information) to provide insurance education to community college students. The programme “MoneyWays” involves lessons by young role models instead of teachers. The first insurance-focused “MoneyWays” lesson will take place during the week and lessons will continue throughout the year.

Norway – Finance Norway

Our Norwegian member, Finance Norway, is a cross-sectoral association representing both the insurance and banking sectors in Norway. During the European Money Week (coinciding with the Global Money Week) Finance Norway and JA-YE have organised a national competition among lower secondary school classes: Be the best money adviser for a person who has run into economic problems.

A case is presented and the pupils are challenged to use different sources when solving the economic problems, for instance talk to a local bank or insurance company, to their parents and to use different websites. The case also includes insurance topics. The winner will be rewarded during the week.