The election of a woman of color as the Vice President of our country has finally shattered a barrier. As a female leader in two industries, technology and insurance, both of which have historically been male dominated, it is great to hear the glass ceiling finally being broken in government. In addition, 30% of the US Congress members in 2021 will be women—that’s the highest percentage of all time.
Government isn’t the only place the glass is breaking. Women are increasingly taking on senior leadership and C-suite roles at insurance companies, including as CIOs and CEOs. Korn Ferry reported that women make up about 18% of CIOs/CTOs for the top 1,000 public and private companies by revenue and 25% for financial services generally. Although not as high as in government, clear progress is being made.
As a mentor to many emerging leaders, I know that role models are key to instilling confidence and perseverance. Although the journey to a senior leadership role is different for everyone, it’s more challenging when current leaders aren’t representative of the broader population. In a discussion with one of my mentees, she shared her passion for learning from all leaders, but particularly from her female CIO. She saw the CIO’s road to success as similar to her own path, and she could readily identify with potential challenges and strategies to overcome them.
On November 18th, I have the pleasure of hosting a panel of female leaders of four InsureTechs at Novarica’s Women’s Network monthly virtual meeting. These women include Chief Product Officer and Co-founder of Benekiva, Bobbie Shrivastav; CEO and Founder of Ometry, Carey Nadeau; CEO and Founder of Friendly, Natasha Alexeeva; and CEO and Founder of Luminant Analytics, Renu Ann Joseph. Talk about breaking glass ceilings! These four incredible women have embraced entrepreneurship, technology, and insurance to create innovative products to become leaders in the industry. I can’t wait to hear their stories and learn from their experiences.
The glass ceiling is being shattered, not just broken. The continued expansion of diversity in insurance, technology, government, and all industries will bring new ideas and strategies to the table and give the next generations an opportunity to see themselves in key roles. I look forward to this next “new normal.”
If you’re interested in learning more about the Novarica Women’s Network, see https://novarica.com/womensnetwork.
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