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Maximising gender balance in Insurtech, A FinPro team discussion
Manage episode 437921430 series 2824326
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In this week’s unusual The Leadership in Insurance Podcast 🎧we have an all FinPro line-up - Rebekah Bostan, Director of Operations and Hattie Armstrong, Lead Consultant where we discuss the gender imbalance in the Insurtech community and what we can all do to rebalance.
💡We all know the stats (🤔see below in case you’ve been living under a rock) female founding team outperform, yet women are still underrepresented in leadership roles. The We Are Insurtech Women Community was borne out of a frustration to readdress the balance.
- Women only make up 18% of insurance C-Suite (according to McKinsey) but yet account for half of the insurance workforce….. and this is even lower for Insurtech.
- McKinsey has also shown a direct correlation between gender diversity and increased profitability💸— companies in the top quartile for gender diversity on their executive teams are 21% more likely to outperform.
- BCG found that companies founded or co-founded by women perform better financially, generating 10% more revenue over a five-year period than male-founded businesses.
- They also found that they generate 78 cents for every dollar of funding, compared to 31 cents generated by male-founded startups.
Creating more gender balance should be a business priority but also a societal focus – ⬇️minimise gender biases in funding allocation
⛔remove barriers to women’s entrepreneurial journeys caused by continued gendered parenting and caring responsibilities
🤝create inclusive networking opportunities for women to build networks that meet their needs and requirements… whilst avoiding ‘fixing women’ events
📣Listen all the way through to hear my easy wins for hiring and retaining diverse talent and creating a more balanced workforce.
Give this one a listen via the link in the comments below 👇 👇 👇
Curious about how to build and grow virtual and geographically diverse teams as a start-up? Curious about how to manage dispersed teams effectively? We are too. Join our next virtual event: Thursday 12th September 2024 (3pm BST) - https://us06web.zoom.us/webinar/register/WN_IKVM69wxSlS_7bhgC20UuA
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