Women in Insurance - February 16 2022
In this interview series, we profile women who are shaping the future of insurance. This week, we connect with Nancy Mellard, Executive VP and General Counsel of CBIZ’s Benefits & Insurance Services Division, and Chair of The Council of Insurance Agents & Brokers. The Council is the premier association for the top regional, national, and international commercial insurance and employee benefits intermediaries worldwide. Council members are market leaders who annually place 85 percent of U.S. commercial property/casualty insurance premiums and administer billions of dollars in employee benefits accounts. Nancy shares her perspectives on the importance of building a strong culture of diversity, equity, and inclusion in the insurance industry.
Nancy, you’re only the second woman in The Council’s 108-year history to hold the top position of Chair. According to special report published by Insurance Business Magazine, 65% of the total insurance industry workforce is female, but only 12% of C-suite officers are women. Why do you think there are so few women in senior leadership roles in the insurance industry?
Everyone in our industry “owns” a piece of this imbalance of women represented in C-suite industry positions today. I see the principal challenge to changing these percentages is a continued reliance on the “old-boys network” and the argument for a desire to maintain the integrity of “THE pipeline.” This antiquated approach to advancing talent negatively impacts the advancement and selection of women.