Insurance executives who participated in a panel discussion at the 2019 Women to Watch EMEA Awards and Leadership Conference in London shared their opinion on how to improve gender diversity and close the gender pay gap in the insurance industry.
AIG UK CEO Anthony Baldwin said that insurance companies should move to sponsorship programs because it can better promote gender diversity compared to the mentorship program. AXA XL chief executive of client and country management Kelly Kyles suggested that women should choose a sponsor who can help their advancement in the organization. Carolina Klint, CEO of Marsh LLC’s Northwest region for Continental Europe, added that sponsors should be committed, have an authentic engagement and really invested in the employees they are sponsoring.
The panelists all agree that insurance companies should change their hiring process and that the best way to reduce the gender pay gap is to encourage the career advancement of women. Baldwin also stressed the need to increase the promotion of women to senior positions to improve pay parity.