The Australian insurance industry has a “gender diversity problem” that needs fixing to drive better decision-making, spur innovation and enhance customer alignment, motor cover technology group Solera says.

It says the insurance and motor industries remain among the most male-dominated worldwide, and the lack of gender diversity stifles creativity and competitiveness.  

Women represent an “untapped reservoir of talent, insight and leadership potential that can fuel growth, innovation and long-term success”.

“In a region as dynamic as Asia-Pacific, where consumer expectations and market opportunities are evolving rapidly, the automotive and insurance industries cannot afford to lag behind,” Solera says.

Barriers to workplace participation include “outdated cultural norms”, limited access to technical roles and inequitable career progression.

“The opportunity to lead by example has never been greater,” Solera says.

The group says it is focusing on recruiting, retaining and advancing women across all functions, saying as the “insurance landscape shifts with advancements in technology, evolving client demands, AI innovation and sustainability, the inclusion of diverse perspectives has never been more critical”.