Diversity focus 'changing traditional broker image'

Generational changes and actions taken to increase diversity are transforming the image of broking, leaders have said, as businesses yesterday marked International Women’s Day.

National Insurance Brokers Association (NIBA) President Gary Okely says a focus on diversity and flexibility has helped shape the sector today.

“Companies have a real focus on increasing areas such as diversity, broader career advancement, pay equity initiatives and established pathways for women in leadership,” he says on the NIBA website.

“Also, after we have emerged from Covid-19, increased flexibility and remote working opportunities have provided greater opportunities for females to make insurance their chosen profession.”

Broking group Resilium says that 72% of its workforce are now women, working at all levels of seniority.

GM Broking Angela O’Neil says women have been promoted from within and have joined from outside the business during a rapid period of change, and the current management team includes strong leaders with diverse perspectives, regardless of gender.

Recent industry changes pave the way for the next generation and perceptions are shifting compared to when Ms O’Neil entered the industry more than two decades ago, she says.

“I do a lot of mentoring, a lot of speaking with younger women, whether it’s formal or informal, to try and make sure that they’re aware that there is a real future for them in insurance,” she tells insuranceNEWS.com.au.

Resilium MD Ben Hastie says insurance has been a male-dominated industry, and the shift in gender balance at the business has happened both as result of a focus during recruiting and through circumstance.

“It was a conscious decision for us to make sure that in speaking to recruiters and putting jobs out we were actively seeking women candidates for the roles, just to make sure we have that balance,” he said.

NIBA Director and Aon National Account Director Lynette Walsh says much has changed since she started her career 20 years ago and early on she was often an outlier at events, meetings and on leadership teams.

“If you were to ask a person on the street to picture an insurance broker, I think most will suggest an older gentleman,” she said.

“However, when I now look at the people I work with within the sector, the reality is much different – we come from all walks of life. It is truly a much more diverse industry. There really is a great representation of females within our industry across all role levels.”

BMS Group yesterday announced a Gender Equity Network, committed to raising awareness of the challenges women face in the workplace and aiming to support them in all stages of their careers.

“While the insurance industry has been slow to embrace gender equity, it is great that we are now seeing a large number of women in senior positions,” BMS Australia Head of Operations Celia McCormack says in a LinkedIn post. “Ok, probably not enough change to start celebrating yet, but in the last decade there has certainly been a positive shift.”