Attracting Top Women in the Life Insurance Industry

An insurance professional, Troy Korsgaden is a consultant with Korsgaden International. A public speaker and a member of insurance and financial professionals trade group GAMA International, Troy Korsgaden regularly speaks to insurance executives about staff recruiting.

Over the next decade, 237,000 insurance advisors will retire, creating a huge opportunity for agencies to recruit top talent, especially in the life insurance segment, where the sales force has been shrinking. In particular, agencies will have the opportunity to attract more women to the industry, which has long been dominated by men. This will benefit the industry as a whole since women, as professionals, are good communicators and excellent relationship builders, and as customers, have increasingly become empowered as business owners and family decision makers.

So how can agencies attract more women into their organizations? By appealing to them individually. A recent study found that the majority of women were most eager to engage in work that helped people. Agencies can leverage this fact by communicating how their work helps people and creates a positive impact. The women in the survey also showed a preference for a family-first culture and flexible work schedules. Agencies can create flexible work hours for working mothers and even develop programs to promote work-family balance.

Professionals recommend agencies develop training programs specifically for women, who traditionally value continuous learning. These programs also create an opportunity for mentorship and collaboration, both of which appeal to women.