Gender and age diversity represent added value, finds Anra report

Italian risk and insurance management association Anra has published a new report, Gender Diversity And Risk Management – The Risk Manager’s Viewpoint, which surveys its members on the issue of gender diversity, with analysis provided by the Italian non-profit association Young Women Network.

The report finds that gender and age diversity in the professional field, both at company level and in the narrower perspective of a risk management team, “represents an added value for the productivity and efficiency of the team itself”.

It notes that the issue of gender diversity has now assumed fundamental importance within the corporate business model, and says that gender equality has taken on a priority role in the context of sustainable development policies applied at European level.

Nearly two-thirds (65%) of ANRA members responded to the survey, distributed almost equally between men (56%) and women (44%). According to ANRA, the data highlights a significant improvement compared to 2017, when the share of women was 37%. And while the majority of male respondents are aged 45 years or older (66%), the female respondents cover a wider and younger age range, between 35 and 54 years (62%).

The respondents were mainly risk manager (26%) and insurance manager (20%), followed by directors (14%), chief risk officer (9%), consultants (8%), brokers and insurers (6%), risk engineering & loss prevention manager (2%) and other risk management roles (15%).

The survey was designed to evaluate diversity as a value and the impact of gender diversity on the path of professional growth (keeping in consideration two further factors, namely the presence of children or dependent family members and age); career opportunities between parenthood and generational turnover, and the possibility of balancing professional and private life; and the existence of the gender pay gap.

The survey results overall highlight the overcoming of prejudices relating to gender diversity (60%) and a corporate climate where you feel at home comfortable with women in managerial positions (60%). However, ANRA points out that 20% of respondents (and 35% of female respondents) still declare the existence of prejudices regarding the presence of women in managerial positions.

The survey also found that 76% of respondents confirm that diversity supports the improvement of soft skills (99%) and professional discussion (98%), creates greater group cohesion (83%), effective communication (83%) and decision-making capacity (83%), improves the decision-making process (80%), and promotes achievement of results within the defined times (92%).

Although attention to diversity is relevant and recognised from the entire analysed sample, only 33% of companies have designated within their structure a figure delegated to promote initiatives of diversity & inclusion. “Given that, compared with the results of the 2017 survey in which only 17% of companies provided for this figure, it highlights an average annual growth of 20% and a rapid evolutionary path,” says the report.

The survey states: “The creation of a fair and inclusive working environment is becoming an irrefutable priority for organisations of different sizes; also following the introduction of supporting national regulations, the elimination of differences in treatment between genders. For example, the possibility for companies to obtain a certification of gender equality represents a strong incentive to promote greater inclusion of women in the labour market, as well as the reduction of the gender pay gap.”

The report concludes that the role of a leader is a complex concept that cannot be reduced to a simple gender difference. Female and male leaders can have different strengths and weaknesses but both must be able to lead and motivate the team. “However, the results of the investigation confirm that we need to invest in female leadership and to do so we need to start with training and mentoring of the women themselves,” says the ANRA report.

It adds: “Parenting, and in particular the needs emerging from the care of children and/or dependent family members, still represent a factor that limits women’s professional careers and on which institutions, companies and families still have a long journey to face – first of all cultural.”

And it concludes: “As for the risk manager, it is important that whoever assumes this role possesses the skills and knowledge necessary to respond to the needs that the position itself requires, as well as the growing challenges that have arisen and which they are called upon to address on behalf of their organisations. It is a profession in which young people and women, with soft skills and aptitudes, can have great professional opportunities.”