Gender imbalance remains a persistent challenge across the business world, particularly in financial services and within senior leadership roles. Despite progress being made there remains a significant gap in the number of women holding executive board roles, at about one in six, compared with those in non-executive board roles where over 60% of the FTSE 350 are achieving or close to meeting the target of 40% women’s representation by the end of 2025[1].
While women have long been leading the charge toward gender inclusion: greater acceleration requires the active participation and leadership of both men and women, and it’s essential for business success. Research consistently shows that when men and women collaborate intentionally to challenge imbalance and support inclusive environments, the outcomes are stronger, faster, and more sustainable.
Why cross-gender collaboration matters is rooted in business as much as in fairness. McKinsey’s 2023 “Women in the Workplace” report[2] highlighted that companies with cross-gender leadership teams are 25% more likely to have above-average profitability. The insurance sector built on assessing risk and making informed judgments, can only benefit from such breadth of thought.
A Harvard Business Review study in 2023[3] shared organisations where men actively participate in gender inclusion programs see a 40% increase in women’s retention rates and a 30% increase in women’s promotion rates compared to those where men are less engaged. This shows how male involvement directly impacts women’s career progression.
Driving gender balance isn’t just about appointing more women to senior roles, improving outcomes for women only, or ticking a diversity box. It requires a cultural shift. This shift happens faster when both men and women work together to build inclusive workplaces with shared accountability across all leadership levels.
What’s more, inclusive workplaces benefit everyone, including men. Men working in gender-balanced organisations report better collaboration, stronger team culture, and greater innovation. They are also more likely to benefit from flexible policies, inclusive cultures, and fairer evaluation systems[4].
Across the industry, more and more companies are recognising that achieving gender balance isn’t a women’s issue, it’s a business benefit. At ISC Group, the world’s largest independent business network for women in insurance, we are leading the charge. With more than 10,000 members and 100+ corporate partners, we are committed to enabling men and women to work together to unlock talent and build more inclusive, balanced leadership teams.
In a significant step forward, we have recently appointed our first male ambassador, Hugh Evans, head of insurance at KPMG. His appointment has attracted widespread positive attention, demonstrating both the appetite and readiness across the insurance industry for deeper cultural change.
At ISC, we are seeking to expand our network of male ambassadors to support the formation of a dedicated Male Allyship Committee. This initiative reflects our strategic commitment to engaging senior leaders who are well-positioned to champion cross-gender collaboration and drive measurable cultural change across the industry.
The insurance industry is at a pivotal point in the pursuit of true gender balance. With a shared commitment, clear strategy, and a focus on long-term cultural change, organisations that embrace cross-gender collaboration and balanced leadership will not only unlock the full potential of their talent but also gain a distinct competitive advantage.
[1] https://ftsewomenleaders.com/progress FTSE Women’s Leader’s Report by Lloyds Bank and KPMG
[2] Women In the Workplace 2023
[3] 3 Ways Men Can Advance Gender Equity at Work
[4] https://www.catalyst.org/research/engaging-men-in-gender-initiatives-what-change-agents-need-to-know/ 2009
