Believe it or not, insurance existed during the ancient world. Back then, people wanted to trade farther than from the nearest village. As trade routes expanded, so did risks, caus- ing a need for insurance to mitigate the risk of pirates, fire and other dangers. During the Medieval era, it was common practice to apply for a sea loan. With this kind of loan,
investors would give funds to traveling merchants.
The merchant would then be responsible for paying back the loan if and when the ship made
it back in one piece. This acted as a form of insurance. Of course, the rules underwent several
changes over the centuries, which leads us to today’s insurance.
The modern insurance industry is actually modeled after the British system, and can be traced
back to the Great Fire of London, which burned more than 13,000 homes in 1666. Back then, the
profession was overwhelming male.
What we’ve seen over the years, is a flip in the paradigm.
According to the Insurance Information Institute, today women comprise over 60 percent of
the insurance industry. The majority of those women work in fields including life and health,
property/casualty, and reinsurance. By all estimates, this makes women one of the most important pieces of the insurance puzzle.
While there are many outstanding female professionals, here are four women who embody
what it means to be a leader in insurance. They have had to overcome many obstacles along the
way to succeed and have a great deal of wisdom to share.
4 Insurance executives share the secrets to their success