Women have comprised about 60% of the insurance industry workforce each year from 2010 to 2019, says data from the Current Population Survey (CPS) conducted by the Bureau of Labor Statistics (BLS). However, only 29% of senior leaders at insurance companies were women in 2019, according to Million Women Mentors' Women in Insurance Initiative (WII) consortium.
Working women often encounter hurdles when climbing the career ladder, but a study commissioned by N26, a global mobile banking platform, identified where women have the most economic opportunity in the U.S.
"Data has also shown that in countries where there is more gender parity, poverty drops and economies grow, while new research has shown that companies [that] foster female leadership perform better and increase profits," Adrienne Gormley, chief operating officer of N26, said in a statement. "No one can predict what the next year or even the next decade has in store for us, but one thing is clear, working towards advancing female leadership creates greater benefits for everyone."
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