Women & Insurance Agency Ownership — Just 31% are Owners

The report is titled The State of Women in Independent Insurance Agencies. It was authored by Liberty Mutual and Safeco and checked in with 374 agencies. It found that close to 60% of the people employed in insurance agencies are women.

However, just 31% are owners and principals.

The two insurers also noted that women who are agents earn about 67 cents for every dollar a man earns. That gap — the report notes — is even greater for women of color.

Some women interviewed by the two companies noted men begin their careers in sales but women have to work up to that position in support roles.

On the positive side, many who replied to the survey said they’ve seen a lot of changes in the industry in recent years. Of the women who replied to the survey, 70% say their efforts are being better recognized by leadership. Just 30% don’t see it that way.

On the negative side, that 70% say they’ve had to work harder for that recognition than their male peers.

Another positive is 80% of respondents saying insurance provides them with a great amount of flexibility and gives them the life and work balance they seek. That flexibility is one of the reasons many women who were surveyed will recommend insurance as a career.

Source link: Digital Insurance — https://bit.ly/3iaQVmI