Award selection committee
"Ultimately, the role of the insurance industry is to provide individuals, businesses and communities the tools and expertise they need to confidently address the risks they face. As we continue to push for greater diversity within our industry, it is imperative that we recognize the women leaders who are already taking the industry forward in a major way."
Brian Duperreault, President & CEO, AIG
Award purpose & description
The Geneva Association is thrilled to announce the launch of the new Women in Insurance Award to celebrate women leaders in insurance who are taking the industry forward with initiatives that promote societal resilience and prosperity.
The insurance industry has made great strides in recent years in attracting women employees. One 2018 study found that women comprise 60% of the workforce in insurance. However, this number falls – dramatically – at the leadership level, with only 12% of top officer positions, such as CEO, CFO and COO, occupied by women. Women are not being promoted at the same rate as men.
A 2018 report by McKinsey & Company attributes this to issues like unconscious bias and lack of management support. The result is that younger women do not see themselves reflected in senior roles. They do not perceive a way to get there themselves. That is why the Geneva Association Women in Insurance Award wants to shine a light on executive-level women and their achievements.
Each year the Geneva Association Women in Insurance Award will celebrate a woman’s contribution to making insurance a force for good.
The award has four priority areas:
Climate risk - better integrating climate risk into underwriting methods or promoting climate-resilient investment approaches
Health - improving health outcomes for people through new services (diagnostic, treatment) or forms of insurance cover
Innovation - using new technologies or data to make insurance cover more meaningful for people or businesses
Inclusive insurance - developing new pricing or distribution models that give low-income or remote populations access to insurance cover (e.g. microinsurance)
A nominee's achievement could relate to more than one of these areas. Other areas of work may also be considered.
The winner will be chosen by a prestigious jury and honoured at the 2020 Geneva Association General Assembly, the GA's annual gathering of its CEO members, to be held in the spring in New York City.
Nominations - FAQ
Q - How do I nominate someone?
The application requires that you upload a letter of recommendation from the company. The letter should contain data to support the nomination: figures on how much revenue the nominee generated through her initiatives, how many direct reports she has, etc.
You may also include optional attachments: the nominee's CV, biography, job description and/or additional references.
If you have any questions, email email@example.com.
Q - Who is eligible to be nominated?
A - Women in executive management positions in the insurance industry who have spearheaded an insurance initiative that has advanced societal resilience and prosperity.
Applicants do not have to be from the companies of the GA's CEO members. A woman from any insurance company in any country around the world may be nominated.
Brokers and agents are not eligible for nomination.
Q - Who is eligible to submit a nomination?
A - Nominations must come from the nominee's company. Concretely, a senior representative of the company (senior vice president or above) or someone from the company's human resources department may submit the nomination.
Q - May companies nominate more than one of their employees for the award?
A - Yes. There is no maximum number of nominees allowed per company. However, please note the company must provide an official letter of recommendation for each nominee.
Q - Can I nominate myself?
A - No (see above), self-nominations will not be considered.
Nominations close 28 February 2020! Click here to submit a nomination form.