A Survey — Women & Insurance Agency Leadership

Liberty Mutual and Safeco did a survey on March 8th. It was in honor of International Women’s Day. The survey is titled, The 2023 Outlook: State of Women in Independent Insurance Agencies.

The results are rather enlightening.

It found that while more agencies these days have at least one woman in a leadership role, men still outnumber women in those roles by two to one. The number is staggering when considering that women make up more than half of the workforce for most insurance agencies yet less than a third of all agency owners and principals are women.

The good news is that between 2018 and 2022, the percentage of agencies with at least one woman in senior leadership, or in a principal role jumped by 12% to 47%. The bad news is that female employees are often overlooked for promotions or development opportunity.

Here are more stats of interest:

  • 80% of millennial and Gen Z men working in important insurance roles are excited about their future in the agency
  • Just 56% of women in those age groups could say that
  • Over 50% of men in those groups say their manage is actively developing them for a leadership role
  • Just 38% of women think that

Christina Walker of Liberty Mutual wrapped up her company’s thoughts about the survey.

“More women in agencies are ready to be leaders,” she said. “They are hungry to share their expertise and are uniquely positioned to connect with customers and transform their agencies.”

Source link: Insurance Journal — http://bit.ly/3FpZJ3T

About PIA Western Alliance

The Professional Insurance Agents Western Alliance is a membership organization promoting and enhancing the success of independent agencies seeking to grow, learn and be heard within the industry.


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