COVID-19 has had a “profound impact on the productivity and well-being” of women working at U.S. insurance companies, according to new research from Accenture.
In March, as part of its “Women in FS” survey, Accenture polled 176 women working in the insurance industry. The study found that nearly one-third (32 percent) of women in insurance have left their job either temporarily or permanently due to the COVID-19 pandemic, with 21 percent citing childcare/eldercare priorities as the main reason. Another 30 percent are considering leaving their company.
Nearly half (45 percent) of those surveyed said they have lost opportunities to grow their careers during the pandemic compared to before, while 44 percent said the pandemic has adversely affected their career progression. In addition, 39 percent indicated they feel disconnected from or forgotten by their company.
The majority of survey respondents are working mothers: 59 percent reported having school-aged children at home, and 68 percent said they are the main caregiver for children or elderly in their households.
When it comes to returning to the workplace, 26 percent of the women surveyed want to go back to working five days in the office, while 34 percent would like to go fully remote, with the rest preferring a hybrid approach.
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