Sexism holds the industry back
Maggie Litster, former underwriting and pricing director at Groupama Insurances, has left the UK for...
Maggie Litster, former underwriting and pricing director at Groupama Insurances, has left the UK for sunnier climes. As appealing as this sounds, her departure is a sad blow to the already meagre number of women in senior positions in the UK insurance industry.
Tellingly, it doesn't take much effort to remember the few left - Sian Fisher, managing director of Hiscox Principle, Marie-Louise Rossi, of the International Underwriting Association, and Carole Nash, founder of Carole Nash Insurance Consultants, to name some of those better known.
The senior figures in UK insurance are overwhelmingly middle class, middle aged, white and male. In many ways there is little that the insurance industry can do about it. Most decision-makers worldwide fit the same description, particularly in financial services.
There are many reasons for this, most of which are beyond the industry's control. Fewer women worked 30 years ago, meaning the pool of women with enough experience to take senior roles is limited. Time will ease this problem and, indeed, things are already changing. In the past couple of months, Groupama has appointed Amanda Blanc as director of UK sales, agency and business development, and Liz Brennan as UK SME manager. And Leeds-based broker The Bartlett Group recently appointed Lynda Michel as a director.
Although this lack of women at senior level is not the insurance industry's fault, it could be its problem. Insurers and brokers are currently complaining that they can't find quality staff. Losing 50% of the population before they have started can hardly help.
Before blaming the male-domination of the industry on wider social issues, insurers and brokers could take a look at their own behaviour. When Clair Hayward won the Young Achiever of the Year award at the British Insurance Awards in 2002, the presenter leered at her figure. "I can see why she won," he commented in front of her industry peers. Hayward won the award as recognition for her hard work, intelligence and determination. Putting it down to sex appeal is simply not appropriate.
From the drunken insurers and brokers who lurched to a strip bar after the British Insurance Brokers' Association conference to the insurer chairman who asked me if I wore tight lycra cycling shorts over my 'pert' bottom, this kind of stupid and retrograde behaviour creates a rowdy boys' club atmosphere. If the industry really does want to attract more talent it will have to get its act together.
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