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Risk in Context Podcast: Women embracing opportunities in the risk and insurance industry

Gender diversity is critical in fostering innovation, bringing together different perspectives, and creating a more inclusive work environment.

03/05/2024 · 5 minute read

Gender diversity is critical in fostering innovation, bringing together different perspectives, and creating a more inclusive work environment. When individuals feel comfortable sharing their ideas, being vulnerable, and speaking their truth, organizations — including those in the risk and insurance industry — can avoid groupthink and improve decision-making.

For young women starting a career within the risk and insurance industry, seeing female role models across all departments and at all levels can help them envision their future within an organization. This representation may also help attract more young women to the industry as they see the potential for career advancement and understand that it is possible to balance work achievements and personal responsibilities.

In this episode of Risk in Context to mark International Women’s Day, Kelly Looney, CEO of the UK Construction and Surety Practice within Marsh Specialty, speaks with Liz Walker, Analytics Solutions Leader for Marsh in the US and Canada, and Megan McClellan, the Southeast Zone leader for Marsh in the US. They talk about the importance of gender diversity, the need for female role models and diverse succession plans, and the challenges and opportunities for women advancing their careers. Jane Smith, Marsh's Energy and Power Leader in the Pacific, Kaj Patel-Wright, a Vice President within Marsh's Financial and Professional Liability Practice in the UK, and Amirah Kamarudin, a Senior Broker within Marsh Asia's Aviation and Space Practice, also share their thoughts and advice for young women entering the risk and insurance industry.

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Key takeaways

Representation is critical at all levels of an organization.

Witnessing the success of female role models who have reached top leadership positions can greatly impact younger women, enabling them to recognize their own potential and envision a clear path for their own career progression.

Humanize the journey to show what’s possible.

Everyone has responsibilities outside of work. By sharing how they are able to balance work and other responsibilities, women in leadership positions can inspire and empower younger colleagues to believe that they too can advance in their careers while effectively managing their other commitments.

Organizations should consider diverse succession plans.

Achieving gender diversity at all levels of an organization requires intentional succession strategies that identify and nurture talented women from the early stages of their careers, ensuring they are provided with ample opportunities to grow and advance professionally.

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