We've recently written about theunderrepresentation of women in the insurance industry and how muchof the employment in financial services is far from the C-suite(“Let'sTalk Sex and Money”). Industry-specific statistics bear thisout: A 2012 study undertaken by St. Joseph's University Academy ofRisk Management and Insurance shows that women hold only 6 percent of top executive positions atinsurance and reinsurance companies.

But you couldn't tell that from the healthy attendance at IICF'sWomen in Insurance Global Conference, held last month, where 450insurance women from across the U.S. and eight countries met toshare success strategies (for  more coverage, visitpropertycasualty360.com).

The speakers' list included a healthy mix of industry andnon-industry women—and a few men—addressing issues of diversity inthe insurance workplace. Speakers included Pattie Sellers, editorof Fortune Magazine; Anne-Marie Slaughter, professor of politicsand international affairs at Princeton University; Lori Fouche,former CEO of Fireman's Fund; Sharon Ludlow, president and CEO ofSwiss Re Canada, and Patricia Henry, EVP of ACE Group.

Attendees included higher-level women in the industry, mostly atinsurance and reinsurance companies. Yet even among this elitegroup, the consensus was that women in insurance still have a toughgo of it. According to a digital survey conducted at the event,while 65 percent of attendees believed that gender inequality stillexists in America, a whopping 82 percent think it's still a problemin the insurance industry. The biggest issues holding women back,they believe, are lack of C-suite recognition and sponsorship (49percent), inadequate or inflexible workplace standards (20 percent)and, tellingly, women not promoting themselves more effectively (26percent).

And although CEO endorsement, gender forums andmentoring/sponsorship are common methods to promote genderdiversity, 37 percent of respondents said their companies did “noneof the above.”

In spite of what appears to be a significant gap in formaldiversity programs, what does seem to be working is hands-onmentoring. Ninety percent of respondents said they had participatedin formal or informal mentoring, and 88 percent said they hadpersonally benefitted from a personal or professional mentoringrelationship.

No one supports “token females” in the boardroom or anywhereelse; candidates for any high-level position must be skilled,experienced and fully qualified for the role. But studies, mostnotably one from 2011 by McKinsey, show that companies with women board membersperform better financially. If that isn't enough of a case fordiversity, I don't know what is.