Investing in gender can pay dividends for an agency, and the study found companies in the top quartile for gender diversity on their executive teams were 21% more likely to have above-average profitability than companies who ranked in the lowest quartile. (Credit: ra2studio/Adobe Stock) Investing in gender diversity can pay dividends for an agency, and the study found companies in the top quartile for gender diversity on their executive teams were 21% more likely to have above-average profitability than companies who ranked in the lowest quartile. (Credit: ra2studio/Adobe Stock)

Hiring, recruiting and retaining more women in the independent insurance industry is a priority for many companies in what can be an admittedly male-dominated space. However, a new study from Safeco Insurance and Liberty Mutual Insurance shows that while 60% of employees in these agencies are women, they are underrepresented when it comes to agency leadership.

"The State of Women in Independent Insurance Agencies: Representation, Compensation and Recognition" study— which surveyed over 350 women in independent agencies about their experience with compensation, representation and recognition— reveals that women make up only 31% of agency principals and owners. This isn't due to a lack of interest from women in these positions, though, and 52% of the women under 50 surveyed said they are interested in becoming a partner in their agency.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].

Agency Management
Recruitment