There’s no question the insurance industry has become more supportive of women in recent years – most major firms have diversity departments in place and, although progress is slow, we’re seeing better representation at senior level.
Simone Dossetor, COO at Munich Re Australia, is among the women who have thrived in Australia’s insurance industry, carving out a successful and high-level career for herself.
Speaking to Insurance Business, Dossetor said she’s observed promising change within the industry but suggested there is still some room for further improvement.
“I’ve enjoyed the journey of my career, particularly the opportunity to work in insurance, and the privilege of embedding a diversity and talent strategy in partnership with the leadership team,” said Dossetor, who was included in this year’s Insurance Business Elite Women feature.
“While most companies haven’t solved all their gender equality issues, I am heartened that many in insurance have embraced a rigorous and detailed programme to continue transforming workplaces to create greater balance,” she continued.
“We best serve our clients when our workforce is as diverse, talented, and passionate as the communities in which we operate. Therefore, it’s vital that our journeys are defined first and foremost by our unique talents and skills.”
Georgette Nicholas, CEO and MD of Genworth, agreed the insurance industry can offer much opportunities to women but said more could be done to help women overcome systematic barriers.
“We need to understand the challenges women face in developing their careers and work to find flexible ways to address them,” said Nicholas.
“We need to create and embrace an environment of diversity and inclusion where differences in thought, experiences, and backgrounds are valued and pursued to make better business decisions,” she continued.
“We all bring skills, experience, and different ways of thinking to our roles. We should explore, understand, and appreciate these differences to support women, along with men, to develop their careers to the fullest.”
Jenny Boyd, multinational client and program management at AIG, agreed the industry is rife with opportunity but said recognising differences between men and women could potentially help more individuals succeed.
“There’s something to be said for the difference between how men and women are wired; a difference the industry should recognise when creating and sharing opportunities,” she said.
“The industry could play a greater role in providing outlets for women to explore aspirations, thereby establishing the confidence to develop those ideas and act on them.”
For example, Boyd suggested women may benefit from a more formalised approach to building professional networks and identifying mentors.
“Empowering both genders towards the next step in their career would signal an important shift away from the ‘one size fits all’ approach, ensuring career building opportunities are shared,” she said.
