TLDR:

• Historically, insurtech has been considered a male domain, but opportunities for women are emerging.
• Data shows a lack of women in senior positions in the insurtech sector.

Briefing: Insurtech is still a man’s game – but it’s changing

Insurtech has traditionally been dominated by men, with a lack of women in senior roles in the industry. Despite efforts to shift this trend, data shows that women make up less than 7% of chief executives in the insurance industry. The issue of underrepresentation extends to female ethnic minorities, who face even greater challenges.

Karen Barretto, deputy chief executive of Stubben Edge Group, highlights the barriers to entry for females in insurtech, citing the perception that technology is a male interest. She emphasizes the importance of taking action to address the underrepresentation issue, including education and open discussions on the subject.

Nataly Maimari, head of AI and data at Insurwave, believes that increasing diversity in senior roles can bring multiple viewpoints and ideas to the industry. While progress has been made, with companies like Stubben Edge Group and Ticker showing gender diversity in their senior positions, more action is needed to dispel the stereotype that insurtech is a man’s game.

The emergence of opportunities in areas like AI, automation, and blockchain presents a chance to increase female and ethnic minority representation in the insurtech sector. The success of leaders like Luisa Barile, Karen Barretto, and Jodi Cartwright signals a positive shift towards a more inclusive insurtech industry.