At ACE, we have long recognized that the business case is strong for a diverse leadership pool and, as a result, we continue to help cultivate the careers of many professional women who can step into executive-level roles. One of the most important ways that ACE has supported the professional development of women actually began 12 years ago as a grassroots effort.

In 2002, a small, informal group of women in Philadelphia met after work to talk about helping women advance at ACE. Several had worked for companies with networking groups that proved beneficial, and they wanted to bring that concept to ACE. According to research performed by Catalyst, a nonprofit that conducts research about the role of women in business, the companies with the most women board directors and a diverse executive representation outperform those companies with very few women in these roles.

AWF: Shaping the Industry, One Woman at a Time

In 2007, this informal after-work gathering became a more formal organization—the ACE Women’s Forum (AWF). Led by its first president, Julie Schaekel, chief auditor at ACE Group, the organization enjoyed the support of ACE senior management. AWF’s objective is to provide opportunities for women at ACE to grow their careers through networking events, including those with broker and client participation, as well as to provide a mentoring program for women at ACE.

AWF’s efforts help women both inside and outside ACE engage in networking, which may lead to mentoring others, both of which are critical components to obtaining more senior-level positions in the industry.

AWF Mentoring: Sharing Experiences

AWF launched its Resource Mentoring database in 2007, designed to increase awareness as well as accessibility to its mentoring program. One aspect of the AWF mentoring initiative has focused on “Lunch & Learn” programs held in Atlanta, Philadelphia, New York, Chicago and Los Angeles. Another initiative involved “Mentoring Roundtable” events sponsoring speakers throughout the United States, featuring women and men who discuss how to initiate and cultivate a professional mentor-mentee relationship. They also discuss how to navigate career changes, work/life balance, effective communication and other topics relating to career management. A third program designed to spur increased mentoring participation is “Speed Mentoring,” offering mentees a brief five- to seven-minute conversation with various mentors.

The overall goal of the AWF Mentoring program is threefold: to assist women in advancing to executive positions at ACE; to increase retention of ACE women; and to attract a new generation of women to the company. Using the AWF Resource Mentoring database, mentees are voluntarily matched with a mentor based on the mentee’s interest.

AWF has a significant impact on the role of women at ACE while also serving as a strategic asset to the company.

AWF also aims to help women hone the technical skills needed to do those jobs effectively while affording ACE women opportunities for mutual support and sharing in an atmosphere of camaraderie internally and externally. These efforts help encourage, strengthen and empower our women professionals. At ACE, we believe greater diversity engenders varying perspectives, which in turn fosters innovation. Innovation leads to greater profitability, which means all these efforts ultimately benefit ACE’s bottom line while providing another way to showcase the brand.

In support of these objectives, AWF hosts programs on topics such as vocal empowerment, speaking and presentation skills, and branding, among other such programs designed to help women advance as they expand their skill sets.

Key Milestones for ACE and AWF

At AWF’s inaugural event in 2007, ACE Board Member Mary Cirillo, a former executive of Deutsche Bank, Bankers Trust Co. and Citibank, spoke to a group of 65 attendees from the U.S., Bermuda and Canada. A number of ACE senior male executives joined the group for dinner, at which the keynote speaker, Janice Brown, founder of Brown Law Group, underscored the need for the AWF to function as a viable business platform to connect with other women and foster business relationships, in addition to internal networking and mentoring.

AWF now has more than 23 chapters in nine regions of ACE’s North American operations, comprising the United States, Bermuda and Canada, and has established networks in ACE’s European operations. As a wholly volunteer organization, this substantial growth and participation in such a short period of time is a testament to the dedication of the professional women of ACE. The growth of AWF has provided a platform for maximizing business opportunities and has resulted in AWF joining forces with ACE’s broker and client partners—in some cases leading to co-sponsored events.

There are countless stories about business “wins” resulting from AWF-sponsored events. They range from bound accounts to the establishment of new business relationships to new submissions.

One example is AWF’s Los Angeles chapter, which hosted a sushi-themed event that attracted more than 100 attendees, including 18 brokerage firms, representing every product line. While many new alliances were formed and existing relationships strengthened, there was also an increase in submissions placed in several key product areas as a direct result of this event.

By the end of 2013, AWF had sponsored more than 150 events with nearly 4,500 attendees, including customers and brokers throughout North America. AWF Europe, led by Patricia Goudarzi, director of sales & distribution for Continental Europe at ACE European Group, just launched this year and is going strong with many initiatives in the works.

AWF: Extending the Brand by Fostering Community Engagement Nationwide

AWF has also expanded its efforts to include philanthropic and community-focused initiatives. Throughout North America, AWF volunteers have leveraged their leadership skills and creativity to support ACE’s overall commitment to give back to the communities where its employees live and work.

One example is AWF’s work with the Boston Chapter of “Dress for Success,” a national nonprofit organization that assists disadvantaged women to help them thrive in work and in life. In 2011, AWF invited 30 local brokers to a fashion show and private reception that benefitted the nonprofit. Beyond that, the effort resulted in ongoing networking connections and business opportunities with brokers who attended.

Other examples include the Philadelphia Chapter’s “Career Wardrobe” event, a clothing drive coordinated by AWF for this local nonprofit to help low-income women transition to work and independence. And, for the past three years, AWF Atlanta has organized an office-wide holiday fundraising effort to sponsor a foster child organization in Fulton County. These are just a few of the ways AWF is extending the ACE brand in the marketplace through community involvement.

ACE Senior Leadership Support

Senior leadership support has been demonstrated through what ACE calls “thoughtful consciousness”—a way in which ACE increases the visibility of ACE women to the industry. John Lupica, chairman of insurance for North America, and Chris Maleno, division president for ACE USA, have been instrumental in establishing and implementing ACE-sponsored events that increase the visibility of ACE women by encouraging them to be speakers and attendees at industry events and by reserving tables at various industry events solely for AWF.

One secondary result tied to these efforts was the Women’s Leadership Forum and Golf Invitational hosted by Lupica, Maleno and Teresa Black, chief operating officer at ACE Surety, in June 2014. This ACE-sponsored event provided a unique networking opportunity that brought together 80 female senior executives from the brokerage and risk management communities, in addition to women representing senior leadership from ACE. The ACE women executives were instrumental in offering business industry sessions on topics such as cyber insurance and data analytics, as well as insights about ACE’s successful business practices to attendees.

Where We Go From Here

AWF has a significant impact on the role of women at ACE while also serving as a strategic asset to the company and as a role model for other entities within the financial services industry. To further extend this effort, ACE recently launched two key communication channels: an AWF LinkedIn site and the online AWF Community—both of which provide opportunities to continue the discussion, exchange ideas and engage in networking activities for women within and outside of ACE.

AWF will continue to be a model for diversity and inclusion in insurance. We are excited to continue to help shape the insurance industry—one woman at a time.