Inspirational. Powerful. Celebrated: the women of Brokerslink
An interview with… Nikita Berry, India
This week, we've taken a metaphorical journey around the world, inviting influential women from the Brokerslink network to share their insights. We asked them to reflect on what life is like for women in insurance, how the market has evolved during their careers, and what advice they would offer to women just entering the profession.
After reading insights from Hungary, Nigeria and the United States, we move to India, where Nikita Berry is the Executive Director of Peraj, our affiliate in India.
Nikita highlights some of the most positive developments across India and talks about the importance of embracing diversity in accelerating change for women in our industry.
Nikita, in your experience, what are the greatest challenges women in Asia face in the insurance industry today?
We currently see a lot of positive development in prime cities, but in second and third-tier cities, women in the insurance industry still face numerous challenges.
Gender discrimination and social barriers are significant obstacles, as women are often underestimated and undervalued in the workplace. This can lead to limited career advancement opportunities and lower salaries compared to their male counterparts.
A lack of female representation in leadership roles is another challenge. Women are underrepresented in senior positions, making it difficult for them to break the glass ceiling and achieve leadership roles.
Societal pressures and expectations also play a significant role. Women are often expected to prioritize family responsibilities over their careers, making it challenging to balance work and personal life.
Has the insurance market in your region become more welcoming to women since you started your career?
The insurance industry in India has made significant progress in becoming more welcoming to women over the years. Here are some positive developments:
- Increased representation: women now occupy more leadership positions and hold a larger share of jobs in the insurance sector.
- Diversity and inclusion initiatives: many insurance companies have launched initiatives to promote diversity, equity, and inclusion, recognizing the value of a diverse workforce.
- Flexible work arrangements: the industry has become more accommodating, offering flexible work arrangements, such as remote work options, to support work-life balance.
- Mentorship programs: some companies have established mentorship programs to guide and support women in their careers.
You’ve had an incredibly successful career to date, how have you been able to break down those barriers and what advice would you give to other women looking at an insurance career?
In my career I’ve found that breaking down barriers requires a great level of self-confidence and resilience, I think it’s important for us to believe in our abilities and persevere through challenges.
Networking and mentorship are so important for women in insurance, finding guidance through experienced professionals and building a strong network can help women find a path to leadership.
Our industry moves quickly and we must too. Continuous learning is vital for success, as is the ability to stay updated on the latest industry trends and develop new skills.
Lastly, our environment breeds success. I believe a supportive environment, filled with people who encourage and support growth, is crucial.
I’d love to see more women entering our profession, for those considering a move into insurance, I have the following advice:
1. Explore various roles: insurance offers diverse career paths; find one that aligns with your skills and interests
2. Develop transferable skills: focus on building skills like communication, problem-solving, and analytical thinking.
3. Seek out industry events: attend conferences, seminars, and workshops to learn about industry trends and network.
4. Find a supportive organization: research companies that prioritize diversity, equity, and inclusion.
5. Be proactive: don't wait for opportunities to come to you - create your own.
Remember, breaking down barriers requires collective effort, we must support and empower each other.
How can the industry attract and retain more women in top jobs?
Attracting and retaining women in top jobs in the insurance industry requires a multi-faceted approach.
Formal training and leadership development programmes can provide vital training, coaching and sponsorship opportunities, within this approach, regular feedback is really important to help women develop and grow in their roles.
Following on from training and coaching, it’s important to provide clear career advancement opportunities and pathways for women to progress. Competitive compensation and benefits is also important for attracting and retaining talent, as is a strong, inclusive company culture. I’d like to see more businesses foster an inclusive culture that values diversity, promotes equality and addresses unconscious bias.
Women are often limited by their familial commitments, so employers must provide better support for managing the work-life balance, such as parental leave, flexible work arrangements and employee wellness programs.
What one thing do you think our industry needs to do to accelerate change?
I actually think there are three clear things the industry can do to accelerate change.
It must tap into diverse perspectives to develop innovative products and services, enhance the customer experience by recognising and serving diverse needs and preferences, and finally, it must create workplace cultures that both value and support diversity.
