Top CEO champions DE&I to inspire women and minorities

Top CEO champions DE&I to inspire women and minorities | Insurance Business Asia

Insurance News

Top CEO champions DE&I to inspire women and minorities

Cecilia Chang has risen to become a power player in the insurance industry and is proud to be a role model helping others to follow in her footsteps

Insurance News

By
Chris Sweeney

This article is sponsored by Generali Hong Kong.

It’s been a unique and winding path to the top of the insurance industry for Cecilia Chang.

The CEO of Generali Hong Kong has crisscrossed the globe and used all of her experiences to propel her forward. Born in Taiwan, she immigrated to the United States 12 months later.

“I learned early on the value of adaptability and resilience,” explains Chang. “My early years in the US were difficult, but they helped me to embrace and adapt to new cultures and environments with confidence and strength, which became a cornerstone of my personal and professional life.”

After completing her education, with a degree from the University of Chicago and a juris doctor from Boston College Law School, she became a corporate lawyer but then transferred into underwriting. But it was joining Generali that really opened doors.

Chang moved to Hong Kong initially as head of financial lines and underwriting, Asia for the Global Corporate and Commercial (GC&C) business before switching to the company’s base in Milan in 2018 to become global head of financial lines and underwriting in GC&C.

She says, “Going to Asia was an opportunity that involved not only a professional shift but also adapting to an entirely new cultural and business environment. Each move has brought its own set of uncertainties and problems, from navigating different business cultures to learning new market dynamics.”

This all culminated in Chang taking on her current position in 2022. Despite its size and responsibility, she didn’t hesitate.

“My motto is ‘say yes to challenges and opportunities’ and it’s been a guiding principle in my career,” she says. “It’s about embracing challenges with optimism and viewing every difficulty as a stepping stone to greater achievements.”

Now, as an established leader, Chang is determined to make the insurance industry a better place and is a keen advocate of diversity, equity and inclusion (DE&I).

Some of the elements she has overseen include:

creating a diverse leadership team
implementing unbiased recruitment practices
promoting awareness through training and workshops
incorporating DE&I values into all aspects of the business

Chang is resolute in not shying away from DE&I challenges, for example, LGBTQ+ inclusiveness in Hong Kong.

“The environment is still challenging, despite the city often being celebrated for its international atmosphere,” she says. “Conservative traditional values and societal attitudes are still embedded within the community, creating challenges and barriers for LGBTQ+ community members in their daily lives.”

However, Chang and her team have introduced progressive initiatives such as:

implementing LGBTQ+ inclusive policies to create a workplace where every individual is respected and valued
offering medical benefits, marriage leave and parental leave to both heterosexual and same-sex partnerships
creating LGBTQ+ video series addressing barriers faced by transgender individuals and same-sex couples in terms of protection
sponsoring employee participation in the Gay Games Hong Kong
organising movie screenings of LGBTQ-themed content such as All Shall Be Well

cooperating with Pride Line under the Tung Wah Group of Hospitals, which supports the LGBTQ+ community with a 24-hour support hotline

Chang has personal struggles involving being a female in a traditionally male-dominated industry.

She says, “Leadership in any field comes with its challenges, but as a woman, there are additional hurdles such as embedded unconscious gender biases, which often undermine credibility. My approach has always been to lead with competence, confidence and empathy, focusing on delivering results and fostering a culture of inclusivity and respect.”

And she wants to be a role model and source of inspiration to other females who want to succeed in, or are considering entering, the insurance world. She seeks to showcase that systematic barriers can be overcome.

“It’s crucial for me to demonstrate to younger women, especially those from minority backgrounds, that their unique perspectives and skills are invaluable assets in this field.”

And Chang adds, “I hope my journey can illuminate the path for others and encourage them to pursue their ambitions relentlessly. I want them to see that leadership is about creating opportunities not only for oneself but also for others who will follow.”

As part of this commitment, Chang actively participates in the Women Chief Executive Network Hong Kong, a circle of talented CEOs in the financial services industry designed to empower and connect women leaders.

Chang urges those who face barriers to never lose faith.

She says, “My advice is that if you have a negative experience, and those will occur, pick yourself up and keep going. By sharing my story and the lessons I have learned, I hope to empower other women to navigate their careers with confidence and vision.”