On 18<sup>th</sup> January we hosted a breakfast briefing chaired by Amanda Blanc, Chair of the ABI and CEO EMEA at Zurich Insurance focusing on gender diversity in the Insurance industry. We had a full house of guests from across the industry, evidencing the importance of this issue.
The event followed the publication of the ABI report Tackling the gender seniority gap: what works for the insurance and long-term savings industry. Our aim was to share experiences, and provide attendees with clear examples of working strategies.
We also welcomed as guest speaker Claudio Veritiero, COO of Kier Group plc, a FTSE250 construction, services and property group. Claudio is also the main Board sponsor for the Group’s Diversity & Inclusion Program. As Norman Broadbent had recently provided Kier with gender-specific talent services, Claudio was able to provide insight into the D&I challenges faced by the Construction industry. As Claudio said: “Gender diversity wasn't even on the radar for the sector five years ago … there are a number of [insurance] stats you mentioned that we would absolutely give our right arm for.”
As a mother, Amanda has a professional and personal interest in D&I; when she became the ABI Chair, she decided to make this one of her priorities. “We need to take an honesty pill on some of this stuff. There comes a point at which you realise that if we don't start talking about it, what is going to change? That's why we commissioned this report,” she said.
Despite women just outnumbering men at entry level, there are 60% fewer women in senior roles in insurance. The ABI report says that there is, without doubt, a ‘motherhood penalty’:
- Mothers’ pay is generally 20% lower than non-mothers
- Unconscious bias results in mothers being regarded as less competent and less committed.