From: Captive Insurance Company Reports (CICR)
It’s a well-known fact that women have fewer career opportunities than their male counterparts. Women have long struggled to achieve parity with their male colleagues, with McKinsey & Company data suggesting a steep drop-off in females between entry-level and middle-management positions in financial services, due to a lack of support.
They also continue to face gender bias and discrimination daily, and that’s particularly true of the leadership in the insurance industry as well as within captive insurance.
Which is why the Captive Insurance Companies Association (CICA) launched Amplify Women.
Now in its fifth year—and with more than 200 participants—the group focuses on representing women in educational and networking opportunities, such as speaking at conferences, publishing articles, teaching, and academic partnerships, as well as championing professional and personal development along with mentoring.
The Amplify Women Committee is also working hard to address the gap in women leaders and on boards of directors, particularly given that despite women making up more than 60 percent of the insurance sector, they only account for less than 20 percent of leadership positions, according to the US Bureau of Labor Statistics.
Amplify Women is already making a big difference, evidenced by the fact that, at this year’s CICA conference, 46 percent of speakers were women, up from 43 percent in 2023.
