Over the weekend, we marked International Women’s Day, a reminder to celebrate and uplift women, not just on this day, but every day.
But as we celebrate, we mustn’t lose sight of the fact that the London Insurance Market continues to be male-dominated, as highlighted in Gracechurch’s recent Employer Brand Monitor.
The report reveals that men make up 81% of Underwriters and 49% of Claims professionals; the trends indicate an increasingly equal gender balance in claims compared with underwriting, which is little changed..
Gracechurch’s report delves deeper, highlighting that women working in Underwriting highly value a supportive environment, a strong culture, and flexible working as key elements of a prospective workplace. Meanwhile, women in Claims also value flexible working, a culture of respect and inclusivity, and quality people and teams.
Research like this provides employers with detailed actionable evidence on what women in the profession value most, and should help them identify and act on effective ways to attract and increase diversity across all parts of their businesses.
Gender balance in the London Market is still a long way off and pay gaps also need to be addressed. Despite the backlash against DE&I programmes, rethinking of how to achieve DE&I in the London workplace remains vital because the Market struggles with attracting diverse talent. Over time, London can become more inclusive and diverse, but progress is evidentially slow and companies need to switch up the dial on action as well as words.
The evidence across business shows that highlighting role models is one effective way of making change happen. As featured in last week’s issue of the Gracechurch newsletter, Gracechurch’s Weekly People, let’s recognise some of the leading women in the industry, earning praise from both their male and female peers for their remarkable contributions to insurance.
- Beth Diamond, Beazley: “Strong advocate for diversity and inclusion.”
- Emma White, Liberty Specialty Markets: “Emma is an advocate for Women in Insurance, she is one of if not the most driven women I have ever met.”
- Julie Newble, Towergate: “A positive influence driving cultural changes across a diverse business. Always has time for colleagues to listen and provide advice no matter what level you work at. Exceptional operational leader who is pushing for change to make the company a better place for colleagues and for customers.”
- Kate Levett, Miller: “Built a team from scratch, driven in a competitive world where being a young woman is sometimes seen as a disadvantage. Built a great diverse team of varied thinkers and developed an excellent proposition in the market.”
- Nicky Proud, Hiscox: “Nicky has been an amazing point of contact and has always been friendly, helpful and easy to reach. Never made me feel like I was ‘bothering’ her and responses have always been fast even when reaching out privately via email.”
- Poppy Malcolmson, Howden: “Poppy is a role model for any woman in insurance, she is an excellent manager and strives to achieve.”
- Sharon Long, Convex: “Builds a fantastic culture but is always striving to improve the industry. True mentor of the industry.”