The insurance industry has long suffered from a “brand identity” crisis on many fronts.
Executive SummaryWhile gender diversity is significantly lacking at the most senior levels across the insurance industry, research by Saint Joseph's University reveals there are differences in the gender mix of carrier C-suites observable between segments of the property/casualty insurance industry. Michael Angelina, the executive director of Saint Joseph's University's Academy of Risk Management & Insurance, who led the research project, explains the findings.
Often accused of improper sales and marketing of our products and poor handling of policyholder claims after a major natural catastrophe, the industry has a negative image and lacks public trust.
With regard to the issue of gender diversity, the industry performs no better, although to be fair, insurers are not much worse than other industries included in the Fortune 500 or Russell 2000.
The Saint Joseph’s University study found that gender diversity is significantly lacking at the most senior levels within the insurance industry.
Additionally, our study also highlights the major differences in gender diversity that arise within market segmentation and type of leadership role (business-facing versus functional).