International Women’s Day: Women from UKGI Group have their Say

International Women’s Day is a chance to celebrate and reflect on the many social, economic, cultural, and political achievements of women and the progress that has been made towards gender equality.

However, it is also an important opportunity to explore, discuss and scrutinise work that needs to be done to progress further, the challenges that lie ahead, and prevailing threats to women’s rights and inclusion.

This year’s theme is Inspire Inclusion, emphasising the importance of diversity and empowering, supporting, and valuing women, but also the role of inclusion in achieving gender equality.

To mark IWD 2024, UKGI Insight spoke to women from across the UKGI Group: Jill Hambley, Managing Director of ICS (Insurance Compliance Solutions), Helen Dean, Head of Broking Consultancy at ICS, and Nicola Mathias, Learning and Development Consultant at UKGI Learning Solutions.

This article explores their thoughts on diversity and inclusion within the insurance sector and what could be done to better support women and help them to progress and succeed.

Discussion

How do you believe the insurance industry has evolved in terms of gender diversity and inclusivity during your career?

Jill Hambley: More slowly than I would have liked but there are more recent signs of increased conversations in the press, social media, and workplaces about these issues. And, of course, annual celebrations such as IWD give us the opportunity to take time to celebrate our achievements and focus on what we need to do to progress.

Helen Dean: I would agree that, whilst there has been progress, and the topic has been given much more attention than previously, the industry has a way to go, and women are still underrepresented in senior leadership roles. That said, in my own personal experience, I have been lucky in the last 10 years of my career to have worked for 2 female Managing Directors who have both been role models and helped to demonstrate what women can achieve.

Nicola Mathias: I too have seen positive changes, as when I first started working in my role, I felt it was a very male dominated industry, but have since seen more women taking higher level posts. I feel that, whilst there is still a huge imbalance when it comes to women in insurance, this is slowly changing.

What initiatives have been most effective in promoting female leadership within the sector?

Jill: Role models like Amanada Blanc have had a huge impact by reacting to, and challenging, gender bias. The data produced by the likes of McKinsey (in their Women in the Workplace and Diversity Wins report), and the co-authored report ‘Transforming EDI practices in UK insurance’, provokes valuable discussion around how businesses benefit from gender diverse leadership teams.

Helen: Women in leadership initiatives are especially effective, showcasing what women can achieve and supporting and mentoring women within their roles and future career aspirations. Networking events and or forums, whether in person or online, such as the LinkedIn community, can help to make connections. Latterly, changes to legislation and regulations will hopefully keep the focus on, and increase the momentum of, change.

Nicola: I think that young leaders of the future programmes have had a great impact on the industry, allowing an even playing field for women to learn and progress in the industry.

What advice would you give to young women aspiring to leadership roles within the sector?

Jill: I would advise young women to get a good mentor and, if you cannot source one within your workplace, consider investing in an external resource. Also, push for workplace training as there are so many grants and funded places available.

Helen: My advice would be: You can do it. Believe in yourself, as well as being true to yourself. You have much to offer, showcase your talents and don’t be inhibited - go and shine! As Jill mentioned, look for women mentors who can help develop and nurture you, and seek out networking opportunities. Networking doesn’t necessarily come naturally – I speak for myself! – but you can make great connections and access support and guidance.

Nicola: I would encourage young women not to be afraid and to get stuck in! Don’t be afraid to shine! Don’t be afraid to have a voice!

In your experience, what unique challenges do women face in advancing their careers within the insurance industry?

Jill: There’s no doubt that historically the industry has been full of male stereotypes and the legacy of this still presents barriers to women. It is still a heavily male dominated industry with ‘golf days’ out as a routine means of networking. The lack of female representation and more diverse networking options can make it difficult for women to envision themselves succeeding in senior roles. Another consideration is that women who have unique health issues are not routinely catered for within male dominated management teams.

Helen: Unique challenges include time away from work to have children, as well as the impact of the menopause, both of which can slow or stall a woman’s career path. Child caring responsibilities can also have an impact, but there has been greater progress in presenting opportunities for that to be split more equally between parents. In addition, unconscious bias can feature, as well as women’s own feelings of imposter syndrome and lack of confidence. Finally, sexism still exists – although thankfully not something I see or experience from my ICS colleagues!

Nicola: I still personally feel that the insurance sector presents as an ‘old boys club’. It is hard to break down the barriers and get ahead in this industry, but with the right focus and determination, these barriers can be broken down.

What key actions do you believe are necessary to achieve gender equality and representation in leadership positions within the industry?

Jill: Whilst we have several role models in the industry (Amanda Blanc, Julie Rayson-Flynn and Lis Bartlett)- we need more. We also need to focus the workplace considerations more broadly to inclusion for all members of staff no matter what gender, race, ability etc, as the more inclusive we become, the more likely it will be that all biases are removed.
I strongly believe that women have a responsibility to demand more; it’s a regret of mine that I have too readily accepted the status quo in my career. This plays out particularly in women’s home and personal lives where we take on ever increasing amounts of responsibility as carers (for children, parents, dogs etc!) without demanding that this should be shared and supported.

These increased responsibilities often overlap into our work lives and distract and dilute progression because we put up barriers, thinking we can’t take on more responsibility. Women need to carve out time for themselves in relation to each area of their lives and, from a work perspective, determine what they want their careers to look like- we cannot wait for others to do it for us.

Helen: I think it is key to focus on recruitment and how we can attract women and a diverse work force to join the industry. This is a broader than the current topic, but more needs to be done to showcase insurance as a career for the next generation. It is not the stuffy, boring, male dominated sector that it once was and has long since been portrayed as.
The sector offers a breadth of opportunity and variety of roles and organisations to work for. Most people I know fell into insurance, but we must do more to promote the sector and make it a choice for those leaving schools and universities, attracting a diverse workforce who work for organisations with an inclusive culture, where staff feel valued and are encouraged and feel that they can participate and contribute.

Work has been done to attract more women but much more needs to be done to retain women in more senior roles within businesses, where diversity is reduced. It is also important to ensure equal pay and benefits, that companies invest in the growth and development of women alongside providing opportunities for men, and that appropriate support is provided for those unique challenges we discussed earlier.

Nicola: We need to be confident in our abilities. It shouldn’t be about what sex we are, it should be about how we can improve the industry with knowledge and motivation to make it a great place for everyone, but more importantly, our customers!