Insurance is not a high risk option for women, Bayes event hears

Think creatively and be ambitious in forging your career, a senior industry figure said at an event for women planning careers in insurance hosted by Bayes Business School last week.

“No-one is going to give you a career - you’ve got to go and take it for yourself,” Claire McDonald, CEO of Scor’s corporate risks insurance unit (SCOR Business Solutions) told dozens of participants at the ‘Women into Insurance’ half day event.

”Be conscious of what opportunities are around you and have your eyes open. A lot of my job moves have come from random conversations walking between buildings or by having a network of people that I talk to. Don’t limit yourself. When you get your first job don’t think you have to stay in that role for five years. Drive yourself a bit harder.”

Looking back on a 37-year career that she began aged 18, Claire tackled head-on the issues of sexism and discrimination.

“The world of work you are going into looks very different to the one I entered in 1987. Towards the end of my career I’m finally getting to work with some other women. In all the other teams I’ve joined I’ve been the first but then not the last. Other women came after me and someone has to be the first. Sometimes that was me but in other areas or companies it may well be one of you. And why shouldn’t it be you?”

Bayes organised the event in partnership with the Insurance Women's Inclusivity Network of the Worshipful Company of Insurers (iWIN), the Gender Inclusion Network (GIN), the Chartered Insurance Institute (CII) and the Insurance Cultural Awareness Network (iCAN). It culminated with an Employers’ Fair and networking reception.

Claire, who is a liverywoman with the worshipful company, urged the students to attend iWIN events and noted how female membership of the worshipful company itself has grown significantly.

“These are the channels of power behind the City and you don’t have to be a member of the worshipful company to come along to our events. It’s important that women are represented where there is power.”

Associate Dean of MSc programmes at Bayes, Dr Simone Krummaker, who is an Associate Professor in Insurance, said: “This was the third time we’ve staged this event and each time students have been really positive and enthused by the practical but empathetic contributions. By hearing from both veteran trailblazers like Claire and from women still building their careers, students can really begin to think about their own plans.”

Other speakers outlined the wide range of roles available in the sector – running from claims, broking and underwriting to business and data analysis, exposure management, legal and marketing.