The National Insurance Brokers Association (NIBA) board directors have aired their thoughts on the insurance broking profession, “cracking the code” on gender equality to celebrate International Women's Day.
The insurance profession in Australia outperforms many sectors in terms of women in chair positions – with 23.7% of chair positions in the profession held by women compared to the national average of 17.6%, according to NIBA.
Dianne Phelan, NIBA board director and BJS Insurance group operations manager, emphasised that the increased presence of women around board tables has become the norm, and that “natural diversity of thinking can only improve outcomes for all.”
“I believe the potential for female insurance professionals to thrive has never been stronger,” Phelan said. “I have been lucky that I have never felt that my gender has had a bearing on any position that I have held, but I do understand that is not the case for all women.
“Many have had to work much harder to achieve the same recognition as their male counterparts or have been left with a feeling that they received an opportunity for career advancement not because of their ability, but to achieve a set ‘quota’.”
“The profession has certainly evolved over the years,” said Rebecca Wilson, NIBA board director and Austbrokers ABS managing director. “Certainly, when I started, there were a lot more men than women.
“But as the years have gone on, there have been more women entering the profession, having more senior roles and a bigger say – and I'd like to see that continue.”
Stella Pruscino, NIBA board director and Edgewise account director, said flexibility that can easily be incorporated into many roles is key to growing the number of women in the insurance industry.
“Over the years, the industry has made significant strides in promoting gender diversity and inclusivity, creating more opportunities for women to excel in all aspects of the industry,” she said. “Many employers have embraced remote work and flexible working arrangements, which can be especially beneficial for women who may need to balance work and family responsibilities.”
Gary Okely, recently appointed as NIBA president, aired similar thoughts.
“Companies have a real focus on increasing areas, such as diversity, broader career advancement, pay equity initiatives, and established pathways for women in leadership,” Okely said. “Also, after we have emerged from COVID-19, increased flexibility and remote working opportunities have provided greater opportunities for females to make insurance their chosen profession.”
