There is a real opportunity for the insurance sector to be a force for change and help women work in the industry, according to Stephanie Dillon, founder of Inclusivity Partners.
Dillion was speaking just a day after the Women in Finance Taskforce revealed it would take 30 years at the current rate of progress to achieve gender equality in senior positions.
As a result, it published a series of recommendations to kickstart the process including diverse shortlists for senior positions with 50% female representation, removing male biased recruitment ads, and detailed diversity targets.
Unprecedented collaboration
Speaking to Health & Protection on International Women’s Day, Dillion emphasised that historical career ladders and traditional ways of sourcing talent do not work for a large swathe of talented people – particularly women.
“We need to break the strongly held belief that a linear career path is the only career path to success,” she said.
“By being open to different ways of sourcing the industry can become more diverse and inclusive.
“What stands out about the insurance industry is the strong desire to collaborate. The recognition that banding together can be a real force for change. This is unprecedented in other industries.”
Dillon also revealed the firm’s career breakers programme which enables career break professionals to return to the insurance sector, will imminently open for applications for its next batch of recruits.
Opportunities on the programme have been across all disciplines, including advice, underwriting, claims, actuarial, exposure management, risk and some corporate functions.
Programme participants have included AIG Life, Axa, Aon, Chaucer Group, Howden Group & Dual, Lloyd’s of London, Marsh, Phoenix Group, Willis Towers Watson and Zurich.
Successful candidates benefit from a six month paid placement in September of last year on six-month contracts, a training, onboarding and induction process and one-to-one specialist coaching.
While past programmes have have had a set start date for all participants, this next programme will be more “agile”.
It will do this by sourcing and placing returners throughout the six month period, matching them to live opportunities with member firms as and when they arise.
“This will mean we can access more opportunities for returners,” Dillon said. “The returners will continue to receive our pre and post placement coaching support to ensure we maintain our high conversion rate.”
‘Women make wiser decisions’
Jacquie Duckworth, co-founder of The Uninvisibility Project, is also seeking to be a force for change in the insurance sector.
In September of last year the project created Visible Start, a training programme with Brixton Finishing School and sponsored by ad firm WPP.
The course offers workshops, speed networking, mock interviews, guest speakers and training, was designed for mid-life women aged 45 and over with 20 permanent roles guaranteed within the WPP network. However, 32 women are now being employed at WPP thanks to the project.
But Duckworth is now seeking to roll out the programme into the insurance and wider finance sector.
“It has been proven that women make wiser decisions,” Duckworth told Health & Protection.
“We improve the success of businesses who hire us. We are in the business of an empathetic nurturing culture. Post-menopause doesn’t mean an old crusty wrinkly has been close to death. Post-menopause can actually mean a new lease of life.
“We want to hit the finance sector with this game plan and philosophy. It is a great way to recruit and train and retain a loyal committed workforce. And if you don’t let this happen, your daughters and sisters will be in exactly the same situation we are in right now.
“Help us re-frame the narrative. What better place to look to than the over-dominated male world of finance.”