Ninety-eight percent of insurer respondents indicated that they have a woman serving in an executive position within their company, according the new “Women in Insurance Leadership Insight Report.” Yet, there is only one woman CEO at a Fortune 500 insurance company.
At insurance carriers and companies with related activities, women make up 59.4 percent of workers; at present, the only woman CEO of a Fortune 500 insurance company is Deanna Mulligan of Guardian, according to 2013 data from Catalyst, a non-profit membership women’s advocacy organization.
The new report represents the results of the second annual Women in Insurance Leadership study, which was a joint effort between Insurance Networking News and the Women in Insurance Networking Group.
According to the study, 36 percent reported women serving on their boards of directors, and 3 percent reported women serving as chair of their board. Further, 56 percent said women served in the role of VP, and 43 percent reported women in the SVP role. A variety of other C-level positions held by women comprised between 8 and 20 percent of respondents answers.
Eighty percent of female respondents said they struggle with work/life balance at least occasionally; 29 percent replied that they “often struggle with work/life balance.
Among the opportunities and programs offered by companies to female workers, 67 percent said working at home/remotely/flex time is beneficial for work/life balance. Twenty-three cited on-site amenities (e.g. dry cleaning, fitness services, day care, etc.) as helpful.
The number of companies offering non-gender-specific leadership development programs grew by 4 percent. More encouraging, however, is the uptick in the number of insurers offering professional development programs that specifically target women, which jumped from 7 percent in the WIL 2011 Insight Report to 16 percent in 2012.
The sample size for the research included 270 respondents working in management/leadership positions within insurance — 218 were female, 52 male.
To download the full report, click here.
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