The Ontario Broker - Volume 24, Issue 2 - 17

COLUMNS
The Evolving Role of
Gender in Insurance
T
here's an ongoing discussion on gender identity within
society and a related discussion within our industry,
specifically as it relates to auto insurance rating. Despite
significant strides towards recognition and acceptance of
diverse gender identities, gaps persist within insurance
practices. Recently, our DEI Committee explored how gender markers
are used in the P&C insurance space.
Considering Statistics
One in 300 individuals aged 15 and older in Canada identifies as
transgender or non-binary, according to Statistics Canada. But despite
this reality, many insurance forms and policies fail to adequately
accommodate these identities. The option to designate one's gender
as " X " on official MTO documents such as drivers' licenses marks a
significant step forward in acknowledging and affirming diverse gender
experiences, but this progress isn't always reflected within an auto
insurance policy.
Our DEI Committee's analysis revealed that while some insurers have
embraced the Gender X designation within their quoting portals, others
lag behind, with the option not available during a quote. We found
instances where insurance documentation misrepresented a client's
gender. For example, if the client presented themselves as Gender X at
the point of quotation, the broker quoted the individual as Female in
the insurance system due to the limitation of options, and the client
received their documents which noted them, incorrectly, as female.
Observations from Ontario
Brokerages
* 30% of insurance companies offer
Gender X as an option on their
auto quoting portal while the rest
require brokers to choose Female.
* One insurer used gender pronouns
on the client facing auto policy
document. This means that if
the consumer told the broker
they were Gender X, they would
have received policy documents
indicating they were Female.
Recommendations for Inclusivity
In pursuit of inclusive policies and practices, we believe
in collaborative efforts with industry stakeholders to ensure
consistency in gender markers across consumer profiles,
particularly in cases of gender transition. Market evidence
indicates that reliving the gender transformation narrative
can be very stressful for individuals when trying to explain
their driving history during the insurance shopping process.
* We encourage all insurers to have Gender X as an option
in their auto quoting portal. Even if there isn't enough
historical data to justify a delta in the auto rate for this
class, historical data can't be measured in the future unless
it's collected now.
* Client facing policy documents should reflect gender
pronouns and markers as presented to the broker at the
point of sale.
These steps, while seemingly small, have profound
implications for fostering inclusivity for all individuals in
Ontario. The journey towards gender inclusivity in insurance is
one of awareness, advocacy and action. As we raise awareness
and elevate voices, we move closer to a future where insurance
truly serves all individuals.
Volume 24 | Issue 2
17
The Ontario Broker - Volume 24, Issue 2

Table of Contents for the Digital Edition of The Ontario Broker - Volume 24, Issue 2
