A simple, open-ended question in this year’s Insurance News wellbeing survey – “Can you tell us what you do and don’t like about working in insurance?” – garnered almost 1100 anonymous and frank replies.

On the plus side, you told us you like the fast pace and variety of work, and the stability and security insurance offers. You like helping people, and the perks of gatherings, travel and benefits. 

You like the insurance community, and also love working from home.

Comments frequently reference camaraderie, purpose and meaning, the “noble cause”, advocating for people and getting better claim results, plus problem solving, bonding with clients, learning widely about industry, and helping to underpin the economy and encourage entrepreneurial risk-taking.  

Here are just some of your positive comments 

• It’s a hidden gem of an industry. For those that work hard and build the right networks there are ample opportunities to earn a good income and enjoy lots of travel and entertainment. You can make friends as you’re around a lot of good, like-minded people who generally enjoy their jobs. 
• Extraordinarily interesting and diverse, a mystery to outsiders. Makes a difference to people’s lives.
• It’s a sensational industry, travelled the world, made friends for life and love the daily diversity. 
• Best kept secret in the working world, lots of different pathways, challenge and generally just good times. If you want it, promotion and career improvement is very achievable. 

On the downside, there were complaints about preferential treatment and cliques, old-fashioned thinking and a tsunami of compliance bureaucracy.

Many say the industry is still male-dominated and refer to a persistent “boys’ club”. Nepotism, ageism and an alcohol-based culture were all mentioned. Some women and non-drinkers feel excluded, and promotion opportunity is perceived to be unfair.  

“People prospering not on merit but on their networks,” is how one respondent sees it.

“Political, a bit cowboy,” was another industry description, while a different respondent said: “Our industry has become dumber and we do not have the respect of the wider public and other professionals – we lack direction.”

Others criticise “old-fashioned thinking and legacy leaders” and “too many old people holding the industry back with way too high salaries that don’t reflect the appropriate skills to move the industry forward”.

Another respondent complained of “inexperienced staff, ticking and flicking without understanding why they are doing something, who often lose the human factor”.

Technology (“Dated and disconnected insurer systems. Should not need a million different portals.”), offshoring and red tape were other annoyances.

“It is over-regulated. I understand that 30-plus years ago the industry was rife with rogues and desperately needed reforms. However, I do believe it has gone too far now,” said one respondent. “There is a lot of unnecessary red tape – all it does is add increased costs for the consumer, which is really the opposite of what was intended.”

Another said it is “hard to stay current and in the loop. So much information required no matter how long you have been in the industry.”

Here’s what you’d like to change about the industry, in your own words: 

Public image 

• There is still a stigma ... I don’t know how that perception can be changed as I’ve been in the industry 20-plus years. 
• I don’t like the way insurance is portrayed as “scammy” industry. 
• It is a constant battle to try and justify our existence. Banks are allowed to make exorbitant profits with little or no questions raised, but if an insurer has a decent result we get hammered by the media. 
• Some within the industry lack awareness about how good it is, so they are not advocates. 
• The insurance industry simply cannot gear up enough to manage natural catastrophes to meet societal expectations. The costs of doing so would make premiums unaffordable. This leaves a pressure and reputation exposure. 

Gender and diversity 

• The industry is still behind compared to other sectors. 
• It is still very male-oriented, ageist and insincere regarding flexible working. 
• Gender disparities in pay and promotion remain entrenched. 
• While the industry has made strides towards gender inclusivity, there is still a long way to go. 
• The higher I go, the more men sit in meetings. There is still misogyny, which I experience daily despite organisations purporting to be inclusive. It can be demoralising. 
• The drinking culture at conferences and industry events remains an issue, alienating some employees. 
• A lot of alcohol-based events, very old school with old boys’ networks; male-dominated. Promotion is often based on who you know, not what you know. 
• Drinking culture is a massive issue. So many conferences and events, and everything is centred around drinking. 
• The constant sidelining of women when it comes to bonuses and pay, training, social events, promotions, opportunities. 
• It’s not uncommon to feel excluded from high-level discussions due to gender. 
• If you have an opinion as a woman, you are not supported.  
• Women only get roles to meet quotas. 
• The “wokeness” of society is reflected in the workplace and there is no longer a collegiate and fun environment to work in. 
• Men need to respect women more for their professionalism. I shouldn’t have to tell a man to stop coming so close to me, kissing me on the cheek and grabbing my hip. It’s not fair. 
• There is a lack of a true professional barrier to entry, allowing unethical or incompetent individuals to remain in the industry. 
• We need some positive discrimination to dislodge the boys’ club, but I think it has been overdone in some companies. 

Workloads 

• It is always so busy, there never seem to be quieter times. 
• Many workplaces rely on good staff doing countless hours of unpaid work. 
• The constant urgency of everything, difficult conversations. This takes a toll on me. 
• Work can be repetitive, and customers tend not to value your efforts. 
• No option for overtime when we become busy with an influx of claims, or at least time in lieu 
• Pressure to meet aggressive targets and satisfy sales culture. 
• There is talk about improving working conditions, but it never eventuates. Constant rounds of restructuring are unsettling. I have been with my company for 20-plus years and had to reapply for my job five times in the last 3.5 years. 

Culture and leadership 

• There’s a sense of “this is how we’ve always done it”, which stifles innovation and progress. 
• The disconnect between upper management and the staff who carry out the work can be frustrating. 
• Things are widgets and units, not Mr Smith at number 9. 
• Too often a culture based on deals being done in the pub. 
• Too much focus on office politics and not enough on teamwork and collective success. 
• Long hours, limited recognition, expectations to always be available, company politics, industry gossip, poor management, progression of self-interested management. 
• The culture needs to be less focused on top-down hierarchy and more on fostering a collaborative, inclusive environment. 
• Dominated by Anglo, middle-aged leadership resistant to change. 
• The insurance industry needs to adapt to a new generation of workers, embracing more flexible work arrangements and modern work cultures. 
• People being loud and visible doesn’t always represent the considerate group. Empathy needs to be appreciated.

See more on the survey here.