Ignoring women costs financial industry US$700 bil a year

SYDNEY: The male-dominated finance industry is missing out on more than US$700 billion a year in revenue by failing to listen to or tailor products for women, according to management consultancy Oliver Wyman.

For example, if insurers sold life policies to women at the same rate as to men, they could generate US$500 million in new premiums, Oliver Wyman estimated. Women also tend to hold more of their assets in cash rather than stocks and bonds, costing wealth and asset managers a potential US$25 billion in fees.

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