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Jo Mason, CEO of New Zealand’s third largest insurance broking group NZbrokers says it’s been fantastic to witness the diversity progress made within the insurance sector, but that there are still too few women occupying top leadership positions. Speaking to Insurance Business, Mason talks about the challenges and rewards of being a female CEO in the insurance industry.
“I think there is plenty of focus on gender diversity, but whether it is effective or not is the more pertinent question,” says Mason. “If you look at the fire and general industry versus the life industry – there are three female life insurance CEOs, whilst there are none in F&G. What are life companies focused on that F&G companies could perhaps learn from? Even in broking houses – apart from me, there are no other female CEOs. The closest is Gillian Granger – COO at Crombie Lockwood.”
“Perhaps it’s just a matter of timing,” she says. “We have some excellent male leaders in our industry who are hugely supportive of women and their career progression in insurance.”
On career development and professional growth, Mason says that lack of opportunity isn’t a problem. Rather, it’s lack of support that a woman who is a mother, wife, daughter, direct-report and colleague might need from those around her. That lack of support, she says, leads to women electing to remain at a more junior level, or leaving the industry completely.
Nonetheless, she says the insurance industry is improving when it comes to diversity and intolerance towards workplace harassment, particularly in the wake of awareness campaigns across other industries such as #MeToo and Time’s Up.
“I have witnessed harassment in my time in the insurance industry, but I think in New Zealand there is now a definite intolerance to this kind of behaviour,” says Mason. “Where it may have been brushed under the carpet in the past, that is certainly not the case now. I do not believe the insurance industry has the same problems that other professions seemingly face.”
To young women wanting to become insurance advisers, Mason says go for it!
“If you love dealing with people and being there when they most need you, you have selected the right industry,” she says. “Many of my lifelong friends are from the industry and – within reason – I wouldn’t have wanted to be anywhere else. The satisfaction of being on the ground in Christchurch immediately following the earthquakes and offering the support and reassurance to our clients is something that will stay with me forever. That’s why I love being in insurance.”
“Another piece of advice – look after your team and those around you who support you in your role,” Mason says. “Appreciate them and they will move mountains for you.”
