Current State
According to S&P Global Market Intelligence’s website, “Approximately 21.4% of executives and officers at the large insurers that trade on the NYSE or Nasdaq are women.” That same article states that there are only seven female CEOs in the US insurance industry—seven. Think about those numbers compared to the percentage of women in the US population, and make your own assumptions about the need for diversity in the insurance industry. As a woman who’s worked in this industry for over twenty years, I wonder what the future looks like for the next generation of women who will experience this same professional path. How can such an important and ever-changing industry be so stagnant in its progress for professional diversity? Horace Mann Educators Corp. CEO, Marita Zuraitis believes that part of this disparity is due to a ” ‘systemic lack of flexibility’ among leaders” which does not allow “a lot of time for things like raising children” (spglobal.com)—an unfortunate reality that many moms, including myself, have had to face in the workforce.
The Future
There is hope, though. When asked why I chose to be a part of Insure Equality’s board, I answered, in regards to women in insurance, “Too long have our voices been silenced. It’s our time to rise, speak and advocate for the next generation.” In an industry dominated by men, I want to ensure a more accessible path for women who want to progress in leadership. I want my daughter to be able to look at her mom’s job and know that she is welcome in that industry as well, if she so chooses. I want other working moms to know that they don’t have to choose between having a family and achieving their professional goals in insurance. There should be more than seven women CEOs for young women to use as examples for professional success in this industry. The time is ripe for change. I’m optimistic and determined to do my part to make the path easier for other women and our next generation female leaders.
Sources:
Ross, Hailey and Jason Woleben. “Female insurance leaders work against odds to open doors for other women”. S&P Global Market Intelligence.
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/female-insurance-leaders-work-against-odds-to-open-doors-for-other-women-60699653 02 Dec. 2021.