Shockingly, women of color hold a meager 2% of board seats within the insurance sector, in sharp contrast to the 14% representation of men of color in comparable positions. Credit: bxtr/Adobe Stock
Diversity is not just a buzzword; it's a strategic imperative for the insurance industry. Like many in the financial services sector, our industry has historically had a reputation for lacking diversity and unfortunately, this image is arguably still true today. A recent McKinsey report highlights a stark reality: men of color constitute a mere 8 to 14 percent of the talent pipeline across all levels in the insurance industry. And the deficiency becomes even more apparent when examining women of color in leadership roles. Shockingly, women of color hold a meager 2% of board seats within the insurance sector, in sharp contrast to the 14% representation of men of color in comparable positions.
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