With the 20th anniversary of the Women to Watch awards, I was reminded how some qualities of our winners remain consistent year after year, while others reflect current trends and shifts in the workforce. Insurance has always been a relationship-based industry, so it’s no surprise that many of this year’s honorees, as in previous years, emphasize that relationships are key to their success. Yes, insurance involves transactions, but look beyond the numbers and analytics and you will find genuine partnerships with clients, team members and those just beginning their careers.
For many of our winners, problem-solving and finding ways to improve the status quo go hand in hand with building relationships. “I’m always trying to figure out how to solve the problems at hand, how to do things better, to continuously improve,” one honoree shared. Often, the complexities of risks and how to address them require innovation and creativity — two skills attributed to many winners past and present. Whether it’s delving into coverage for data breaches, applying technology to improve claims management or creating a captive insurer or parametric coverage when a conventional policy isn’t available, innovation is everywhere. The risk landscape may have shifted over the past 20 years, but the drive to find solutions remains as strong as ever.
Despite recent public opposition to globalization, many members of this year’s cohort have built careers across multiple continents, initially motivated by a love of travel and exploring different cultures and later by global economic growth and increased exposures. One honoree’s career has taken her from London to Bermuda, then to New York and Tokyo, managing global accounts, while another oversees a worldwide insurance program for an industrial conglomerate that covers risk management and insurance procurement for 55 subsidiaries. Geopolitical conflicts, trade tensions and technological advances may be shifting focus toward regional coverage and strategies, but that is creating more leadership opportunities, including addressing risks from Russia’s invasion of Ukraine and the Red Sea crisis.
Several honorees began their careers in insurance when cyber liability coverage was still in its early stages. Whether persuading companies of the need for coverage, explaining the complexities of cyber policies or providing legal advice after major incidents like the 2013 Target data breach, they firmly believe in the importance and value of cyber coverage for businesses. This is promising for a market in which some commercial policyholders still choose to go without coverage despite increasingly sophisticated risks such as ransomware attacks, supply chain breaches and phishing schemes.
A desire and drive to include diverse experiences and voices and to bring people to meetings who might not otherwise have a seat at the table is perhaps one of the most enduring qualities of this year’s winners. Several cited mentors who actively encouraged their participation and valued their insights by giving them opportunities to contribute to the discussion, even when they were new to their roles. This year’s honorees are mentoring and bringing the next generation of insurance leaders with them. No doubt each has had the courage to strike out on their own to succeed and be seen in the market, but as the saying goes, diversity is being invited to the party; inclusion is being asked to dance, and belonging is when everyone feels safe dancing.