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Empowering Colombia’s women-led businesses to build climate resilience
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Fondo Mujer Libre y Productiva is a national public programme of the government of Colombia.
It implements policies and delivers financial tools to support women’s economic autonomy across the country.
The challenge
The Fondo Mujer Libre y Productiva programme faced obstacles to developing the necessary tools to address long-standing barriers to climate financial protection for women entrepreneurs.
These included:
- A gender gap in financial inclusion, with low financial literacy and lack of access to financial services reducing women's autonomy (especially in rural areas)
- An insurance protection gap, with limited availability of affordable insurance for women-owned microbusinesses
- No centralised outreach channel, making it harder to reach and engage with this target population
Another challenge was catering to a variety of occupation types and activities – with many women engaged in more than one. These included beekeeping, crafts, caregiving and family enterprises, in rural and urban locations.
Action
To increase access to microinsurance, and support the government to build a sustainable future for women-led businesses, Howden’s MiCRO team:
- Co-designed an accessible climate parametric insurance product (Mujer Protegida) to meet the needs of women entrepreneurs whose livelihoods were at risk from disasters.
- Ran focus groups and workshops to understand women's specific needs and create inclusive policy wording
- Mapped women’s groups at the national level, boosting individual insurance enrolment and issuing individual insurance policies and certificates
- Designed financial education materials to strengthen women entrepreneurs’ understanding of insurance, risk management and financial decision-making
Being involved in this programme gives me the peace of mind to move forward.
Fondo Mujer Libre y Productiva is a national public programme of the government of Colombia.
It implements policies and delivers financial tools to support women’s economic autonomy across the country.
The challenge
The Fondo Mujer Libre y Productiva programme faced obstacles to developing the necessary tools to address long-standing barriers to climate financial protection for women entrepreneurs.
These included:
- A gender gap in financial inclusion, with low financial literacy and lack of access to financial services reducing women's autonomy (especially in rural areas)
- An insurance protection gap, with limited availability of affordable insurance for women-owned microbusinesses
- No centralised outreach channel, making it harder to reach and engage with this target population
Another challenge was catering to a variety of occupation types and activities – with many women engaged in more than one. These included beekeeping, crafts, caregiving and family enterprises, in rural and urban locations.
Action
To increase access to microinsurance, and support the government to build a sustainable future for women-led businesses, Howden’s MiCRO team:
- Co-designed an accessible climate parametric insurance product (Mujer Protegida) to meet the needs of women entrepreneurs whose livelihoods were at risk from disasters.
- Ran focus groups and workshops to understand women's specific needs and create inclusive policy wording
- Mapped women’s groups at the national level, boosting individual insurance enrolment and issuing individual insurance policies and certificates
- Designed financial education materials to strengthen women entrepreneurs’ understanding of insurance, risk management and financial decision-making
Being involved in this programme gives me the peace of mind to move forward.
Fondo Mujer Libre y Productiva is a national public programme of the government of Colombia.
It implements policies and delivers financial tools to support women’s economic autonomy across the country.
The challenge
The Fondo Mujer Libre y Productiva programme faced obstacles to developing the necessary tools to address long-standing barriers to climate financial protection for women entrepreneurs.
These included:
- A gender gap in financial inclusion, with low financial literacy and lack of access to financial services reducing women's autonomy (especially in rural areas)
- An insurance protection gap, with limited availability of affordable insurance for women-owned microbusinesses
- No centralised outreach channel, making it harder to reach and engage with this target population
Another challenge was catering to a variety of occupation types and activities – with many women engaged in more than one. These included beekeeping, crafts, caregiving and family enterprises, in rural and urban locations.
Action
To increase access to microinsurance, and support the government to build a sustainable future for women-led businesses, Howden’s MiCRO team:
- Co-designed an accessible climate parametric insurance product (Mujer Protegida) to meet the needs of women entrepreneurs whose livelihoods were at risk from disasters.
- Ran focus groups and workshops to understand women's specific needs and create inclusive policy wording
- Mapped women’s groups at the national level, boosting individual insurance enrolment and issuing individual insurance policies and certificates
- Designed financial education materials to strengthen women entrepreneurs’ understanding of insurance, risk management and financial decision-making
Being involved in this programme gives me the peace of mind to move forward.