Page 51 - Shaw Wall of Honor

THE REALITIES OF BEING A
Female
IN A MALE-DOMINATED INDUSTRY
I was one of the lucky ones. In 2011, I was recruited by a captive carrier and had the life- changing opportunity to buy a book of business with absolutely no insurance knowledge or experience (yep, you read that right!). At that time, the carrier was taking intentional steps to diversify its agency force and they wanted more women. Sure, I had worked hard in my career up to that point, had the right business education, and a strong professional network. But I also recognize that I was given this rare opportunity in large part because I was, indeed, a woman.
Was that fair? While a door may have been slightly opened because I was a woman in this industry, I leveraged that life-changing opportunity and bought 10 more agencies in 10 years. And with each acquisition, I began to learn an important and surprising fact
about being a female leader in this male- dominated industry. The fact is, insurance is NOT dominated by men.
A recent Liberty Mutual report estimates that women make up only 30% of agency owners and principals (up significantly from when I started in 2011). However, over 60% of agency employees are women. These women—whether you call them CSRs, Account Managers, Receptionists, or Producers—have been the driving force behind many of the most successful agencies in our industry over the last 30 years. They have also been some of the most undervalued, underappreciated, and underpaid. While this model may have worked in the past, it is most certainly not the way of the future.
What, then, is the way of the future? While every agency is different, what has worked for mine is an intentional plan to empower, reward, and recognize women.
WRITTEN BY
ELLIE PLATT
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