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
Register Now
Altaworld’s Women in InsureTech
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Altaworld’s Women in InsureTech
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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
06
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
07
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
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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.
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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.
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