Financial education

European insurers welcome OECD work on financial education


Insurance Europe has welcomed the substantial work done by the Organisation for Economic Co-operation and Development (OECD) on financial literacy and education, as well as its explicit identification of insurance as a component of financial education strategies.

In its response to a public consultation on a recommendation the OECD is drafting on financial literacy and education, Insurance Europe suggested that one of the best ways of changing individuals’ behaviour is by starting early and integrating financial literacy into school curricula. It added that the workplace can also be an effective setting for providing information.

Insurance Europe also called for European and international policymakers to play a greater role in supporting national strategies, in particular urging the European Commission to come forward with a recommendation of its own.