Average amount of annualized insurance premium charged for a particular insurance product provided by the organization during the reporting period.
Average Insurance Premium (PI1934)
- Reporting Format Reporting Currency (OD5990)
- Metric Type Metric
- Metric Level Product/Service, Organization
- IRIS Metric Citation IRIS, 2020. Average Insurance Premium (PI1934). v5.1.
Footnote
Organizations should footnote all assumptions used.
Usage Guidance
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This metric is intended to capture the average spending on insurance as a function of affordability. Organizations are encouraged to collect data on the average annual premiums of client individuals as a comparison to the historical or national average. For example, in the United States, organizations can refer to the Henry J. Kaiser Foundation for yearly data on the average annual health insurance premium to assess affordability and access to healthcare for individuals and families.
Organizations should consider reporting the Minimum Insurance Premium (PI3734) as well.
Impact Categories & Themes
SDG Goals & Targets
No Poverty
- SDG Target 1.5
- SDG Target 1.4
Gender Equality
- SDG Target 5.5
Decent Work and Economic Growth
- SDG Target 8.1
- SDG Target 8.2
- SDG Target 8.3
- SDG Target 8.10
Industry, Innovation and Infrastructure
- SDG Target 9.3
Reduced Inequality
- SDG Target 10.1
- SDG Target 10.2
- SDG Target 10.3
Sustainable Cities and Communities
- SDG Target 11.5
Metric History
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January 2020 - IRIS v5.1 Released
No change.
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May 2019 - IRIS v5.0 Released
No change.
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March 2016 - IRIS v4.0 Released (current version)
No change.
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March 2014 - IRIS v3.0 Released
Immaterial change. Minor revision to definition language for clarity.
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November 2011 - IRIS v2.2 Released
New metric. Average Insurance Premium (PI1934) developed via IRIS Taxonomy Development Group.