Women in InsureTech Magazine

Empowering the Future: Celebrating Women in InsureTech In the fast-evolving landscape of the insurance industry, Women in InsureTech Magazine emerges as a beacon of empowerment and innovation. Through this publication, we are celebrating the achievements and perspectives of women in the insurance technology sector, providing a platform for thought leaders, entrepreneurs, and professionals.

Women In

InsureTech

Underwriter

Coder

Sales

CEO

Data

Analyst

CMO

Tech Entrepreneurship:

Challenges and Triumphs

of Women

The Power of

Networking: Women's Tech

Associations and Groups

The Rise of Women in

Insurtech Leadership

January 2024 EDITION

Editor in Chief

Garima Srivastava

Editor

Shreyas Bhide

Head of Design

Shailesh D

Managing Director

Arvind Shelke

Marketing Head

Amit S

Marketing Manager

Sheen Salman

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Garima Shrivastava

Editor-in-Chief

Women in Tech Magazine

Empowering the Future:

Celebrating Women in InsureTech

In the fast-evolving landscape of the insurance industry, Women in InsureTech Magazine emerges as a

beacon of empowerment and innovation. Through this publication, we are celebrating the achievements

and perspectives of women in the insurance technology sector, providing a platform for thought leaders,

entrepreneurs, and professionals.

With a keen focus on the latest trends, breakthroughs, and success stories, Women in InsureTech Magazine

will serve as a vital source of inspiration for women navigating the complexities of the insurance technology

space. From highlighting the accomplishments of trailblazing leaders to offering

insights into emerging technologies, we are showcasing the resilience and brilliance of women making

significant strides in the insurtech realm.

As Women in InsureTech Magazine continues to gain momentum, it becomes a catalyst for change,

fostering a community that celebrates diversity, innovation, and collaboration. In a world where technology

and insurance intersect, WIT magazine is not merely documenting history; it's shaping the future of

insuretech with every page turned.

Supporting efforts of the WIT magazine, Altaworld is currently preparing to create an alternative ecosystem

filled with cutting-edge innovation and leadership events across 2024. We aim to amplify the impact of

Women in InsureTech, fostering a transformative ecosystem of empowerment and innovation through our

various online and offline channels.

INSURANCE TECH &

INNOVATION CONFERENCE

June 12 & 13, 2024 | Chicago

AGENDA

Next Step in Your Digital Transformation &

Innovation Journey

The event will delve into crucial aspects of the evolving insurance

landscape, with a focus on adapting to the new world and meeting the

expectations of modern customers. The agenda will cover various facets

of the industry's evolution encompassing highlights such as:

▪

Enhancing customer experiences

▪

Leveraging analytics, blockchain, cloud, AI/ML, IoT, and Big Data

▪

Promoting process transformation and automation

▪

Addressing challenges and opportunities in insurance technology

Altaworld’s Women in InsureTech

Table of Content

The Rise of Women in

Insurtech Leadership:

A Professional Analysis

08.

Navigating The C Suite

Advice from Female

Executives

Tech Entrepreneurship:

Challenges and Triumphs

of Women

12.

18.

15.

Barriers to

Higher Education

Altaworld’s Women in InsureTech

Navigating InsurTech

Frontiers: A Conversation

with Bobbie Shrivastav,

COO of Benekiva

30.

The Journey of a Woman in

Insurance to Career 2.0

and Beyond

36.

Be an inﬂuential

woman in insurance

technology.

44.

Evolution of the

Insurance Industry…

from paper to digital

48.

From Analyst to CIO:

Career Paths of Women

in Insurance Tech

52.

24.

The Power of Networking:

Women's Tech Associations

and Groups

Misha

Bleymaier-Farrish is

Altaworld’s Women in InsureTech

30.

Navigating

InsurTech Frontiers

The Rise of Women in

Insurtech Leadership:

A Professional Analysis

As an emerging industry, Women leadership

has only gained great traction in recent years

to bring innovative solutions to the insurance

sector. As of 2023, women account for just 16%

of Insurtech leadership positions globally. This

statistic highlights the need for greater

representation of women in this field and

shows there are still many opportunities that

can be available for female leaders in

Insurtech. Despite this lack of gender diversity

at the top level, there have been some

encouraging advances made by certain

startups and organizations which

demonstrate how powerful female leadership

can be within the insurtech industry.

The growth of women-led Insurtech startups

is a positive trend in the industry. Women

have been able to take advantage of the

opportunities presented by these new

technologies and provide innovative solutions

to insurance companies. From claims

processing software to automated

underwriting platforms, female founders are

spearheading some of the most successful

Insurtech initiatives today. Companies such

as Lemonade, Benekiva, Metromile, and Oscar

Health have all seen success under the

guidance of their female founders. The

increase in representation for women-led

startups has created products that better

meet customer needs and help drive

innovation within the sector.

In addition to fostering an entrepreneurial

spirit among female leaders in insurtech,

there has also been an increase in women

Trends in Women

Insurtech Leadership

occupying leadership roles at established

organizations within this field. More traditional

insurance companies are now recognizing

the value that increased diversity can bring to

their workforce by hiring more females into

executive positions. This shift towards gender

equality has opened career opportunities for

many talented women who may have

otherwise felt overlooked or discouraged from

applying for certain roles due to outdated

perceptions around gender stereotypes within

this industry sector.

Overall, it’s clear that progress is being made

when it comes to achieving greater

representation for females in leadership

positions throughout Insurtech – yet there’s

still much work left to do.By celebrating

current successes while continuing our efforts

towards furthering gender parity amongst

those employed or leading businesses active

within Insurtech we can create a truly

inclusive environment which will benefit

everyone involved with this important sector

going forward

Altaworld’s Women in InsureTech

Women Leadership

in Insurtech Aiding

Innovation

The benefits of women leadership in the

insurtech sector are immense and have

been demonstrated through a range of

successful initiatives. One key benefit is that

female leaders have proven to be better

equipped to navigate the challenges

presented by this rapidly growing industry.

Women often bring a unique perspective

which can help them identify problems

quickly and come up with creative solutions

that may not be immediately apparent to

others. This has enabled some female-led

businesses within Insurtech to reach new

heights as they develop innovative products

and services faster than their competitors,

while also staying ahead of the technological

curve.

Female leadership has also been

instrumental in helping companies devise

long-term strategies for success. Women

tend to take into account factors such as

customer needs when developing plans for

growth, allowing organizations within

Insurtech to create solutions that will stand

the test of time rather than simply focusing

on short term profits or gains which could

prove unsustainable over longer periods. This

forward thinking approach helps ensure

companies remain competitive now and into

the future – something all stakeholders

should benefit from in both financial and

social terms alike.

Finally, having more females at senior levels

within this industry can go a long way

towards creating a more diverse working

environment throughout Insurtech overall –

one where different perspectives are valued,

encouraged and integrated into decision

making processes at every level across each

company’s hierarchy. Such an atmosphere

allows employees from all backgrounds feel

comfortable expressing their ideas without

fear of judgment or exclusion – something

which ultimately leads to greater creativity

amongst those involved while simultaneously

fostering an inclusive culture across the entire

sector

The beneﬁts of women

leadership in the insurtech

sector are immense and

have been demonstrated

through a range of

successful initiatives.

Altaworld’s Women in InsureTech

An Analysis of Challenges

Women Leaders Face in

Insurtech

Despite the encouraging progress being made

in terms of increasing female representation at

leadership levels within the Insurtech industry,

the world of insurance is still a male dominated.

Although women account for 45% of entry-level

roles in the insurance industry, only 18% of

C-suite positions are held by women.

Reason is multitude of challenges women face

while trying to make their mark on this sector.

One such challenge is accessing capital – an

area where male-led businesses often have a

clear advantage due to traditional investors’

tendency to back startups led by men. This

means that female entrepreneurs may struggle

to get funding for their projects, or they may be

forced into taking on less favorable terms than

those available to male-run organizations.

Another key challenge facing women leaders is

gender pay disparity – something which

remains pervasive throughout many industries

despite ongoing efforts towards achieving

greater equality across all sectors. Women

continue to earn significantly less than men for

similar roles and responsibilities, with some

reports suggesting the average woman earns

only 80 cents for every dollar earned by her

male counterpart in tech roles.

Finally, networking presents yet another

obstacle for females looking to succeed in this

field as well. Despite initiatives such as women

focusses conferences and groups helping more

women to form connections with each other

and build relationships with potential

mentors/investors, there remains a lack of

female role models at decision making positions

within larger corporations– meaning it can be

harder for younger generations of females

entering this space today find support or advice

from experienced professionals who understand

what they’re going through first hand.

Altaworld’s Women in InsureTech

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