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Insurance sector lacks diversity at senior level

A new report on the insurance sector has revealed diversity gaps at management levels.

The report from inclusio shows that while women represent 54.1% of the sector, their representation drops significantly at senior leadership levels, accounting for only 36% compared to 64% for men in those positions.

The study is part of a diversity and inclusion benchmarking initiative called VOiCE – Valuing Openness, inclusive Culture & Equity.

Voices from 2,700 employees were gathered in the first of its kind report looking at their views on insurance sector workplace culture.

Overall, the research showed strong inclusivity and a level of wellbeing among those working within the industry.

Employees perceive the sector as fair, reliable, open and transparent.

High levels of psychological safety were also reported.

“Employers need to understand their company culture to bring about change,” said inclusio CEO and Founder Sandra Healy.

“This is what we have done with VOiCE, by gathering this data the insurance sector will now be able to benchmark progress, improve culture and this will impact in positive business results,” she said.

The report was launched by MEP Frances Fitzgerald.

“We know that the most successful organisations understand their people, allow them to grow and succeed – putting strategies in place to support this,” Ms Fitzgerald said.

“I would encourage more sectors and companies to get involved and begin measuring their progress to bring about a real change in workplace culture,” she added.

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