economy
May 5, 2026
In Colombia, mothers manage household money but remain exposed to risks without financial backup
Sector data shows that women access insurance less. Photo: EL TIEMPO Archive - ICBF
TL;DR
- Colombian mothers are the primary administrators of household finances.
- Women face less financial protection against risks like illness, death, or disability.
- There is a 6.7 percentage point gap in insurance access between women and men in Colombia.
- Women have lower claim rates (47.9%) compared to men (54.6%).
- The insurance market grew by 5.3% in 2024, driven by mass-market insurance, but this growth hasn't effectively closed access gaps for vulnerable populations.
- Low penetration of microinsurance remains a challenge.
- Women account for 90% of caregivers, increasing their exposure to daily risks.
- Challenges include not only access but also knowledge and use of financial protection tools.
- Closing the structural gap requires improving access, knowledge, and utilization of financial protection.