Insurance Education Day 2022: Exploring the Gender Gap in the Insurance Sector

  • 19/10/2022  |
Insurance Education Day 2022: Exploring the Gender Gap in the Insurance Sector

Today, October 19, we celebrate Insurance Education Day, an opportunity to once again underline the importance of insurance in our everyday lives. It is an event organised by IVASS, the Italian Institute for the Supervision of Insurance, and it one of the initiatives for the 2022 Financial Education Month, promoted by the Edufin Committee.

Now in its fifth edition, the Financial Education Month runs for the whole month of October and represents the main annual occasion to promote financial and insurance literacy thanks to many online and offline events and initiatives. It is organised by the Committee for the Planning and Coordination of Financial Education Activities and its initiatives – including the Insurance Education Day – will take place all over Italy.

This year’s Insurance Education Day focuses on the relationship between women and insurance and the related gender gap. During today’s event organised by IVASS and titled “Women and Insurance – A Gap to be Filled”, this topic will be addressed through an interview with IVASS President Luigi Federico Signorini by the journalist Sabrina Nobile and a panel discussion involving representatives from the world of politics, the news industry and associations.

Generally speaking, gender diversity in the financial services sector and in insurance is a theme that has been explored extensively in the last few years and it is as timely as ever, from both an Italian as well a European and global perspective. 

In relation to the gender gap in insurance, an interesting episode of McKinsey’s on Insurance – a podcast series that analyses the trends that are currently reshaping the insurance industry – focuses on “Accelerating Diversity in Insurance” by addressing the challenges of promoting diversity and identifying the best starting points for this change. Commenting on the insights included in the McKinsey’s Women in the Workplace report about women in corporate America, the podcast hosts share interesting facts about the progress women have made in financial services in recent years on different sides of the world.

Below are some key points selected from the episode:

• In Europe, diversity in insurance has been getting better at a fast rate, but the starting point was low – especially regarding women’s representation in senior positions. Generally, awareness of the importance of diversity has increased considerably – but this does not necessarily reflect proper actions and facts.
• Mentorship and sponsorship are crucial to increase diversity within all sectors – and especially in the financial services and corporate world. Valuing and developing female talent, however, has to be a long-term strategy and to become an “internal process” that is regulated and part of companies’ and organisations’ internal policies.
• Talent acquisition is another element that is fundamental to fostering diversity in the workplace. Insurance is outlined as a sector where it is possible to borrow talents from other industries and where it is easier to build bridges with other industries to find talents and new, diverse people

At RGI Group, we want to transform not only the insurance market with our digital solutions but also lead by example in terms of inclusion and diversity. Being a people-first company, we are proud to have specific commitments to inclusion.

We firmly believe that what makes people different can also bring them together and foster an environment of innovation and success. #RGIPeople represents a diverse mix of cultures and backgrounds and anybody is welcome in an inclusive environment because our differences are our strengths. This is what we think and what we do every day.

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