Partners Life is helping to tackle what it says is the country’s growing financial inequality by helping school children understand the value of insurance.
“We see whole groups of people falling behind and struggling to catch up,” says the firm. “While this is a complex issue with many levers, one we can pull on is education.”
To this end, Partners Life is working with Banqer, an education technology company for primary and secondary schools that helps children to understand how money and insurance works.
“Our partnership with Banqer supports the personal risk insurance expansion in the secondary platform, Banqer High,” says Partners Life. “Students get to face what life may throw at them in the safety of a simulation.
“Those students without personal risk insurance see first-hand what this means when their health or income is at risk. They start to appreciate what decisions must be made as adults to protect their financial wellbeing.”
Teachers tell the insurer it’s one of the most engaging programmes they have ever used.
“Engagement has improved, questioning in the classroom is more insightful, and students are aware that what they are learning now will impact their futures,” says Brad Cachopa, Acting Head of Department for Finance and Society, Westlake Boys High School.