Women in Insurance – the Trail Blazers who are Leading the Way in Bridging the Insurance Gap in India

When the matter of financial inclusion comes, it has been seen that the women are more excluded than men. 

Bridging the Insurance Gap in India
Bridging the Insurance Gap in India

The female share of India’s population has been under-represented across several spheres of life for decades. However the lopsided situation has changed now as the gap between women’s and men’s economic participation is narrowing, which drives the growth of the economy. In a family of two earners, the financial status gets improved plus both can get monetary support in any given situation.

In the journey of life, anyone has to negotiate the fatal turn of circumstances– Covid catastrophe is a tell tale sign. When the matter of financial inclusion comes, it has been seen that the women are more excluded than men. 

However things have changed for the better as women have made a huge impact on the financial sector of the country. Also, they have breached the glass ceiling in the field of insurance.  Juggling domestic chores and office obligations, women have worked hard to climb the corporate ladder and set the milestones in the insurance sector.  

Women are today donning the roles of executive leadership across the board in the financial world. Priya Misra is one among them who is Associate Director at InsuranceDekho. She has worked extensively with Indian insurance companies. Priya Misra is reported to have a strong interest in insurance law, who began interning at law firms that specialized in insurance during her college days.

Here is another woman who has made her groove in the field of insurance — Kriti Arora who is currently Vice President- Brand , Product and Platform Marketing at Max Life Insurance Company Limited. Marketing is a strategy that enables an organization to gain brand recognition. Kriti Arora is such a marketer who has brought in various fresh ideas and strives to set a successful business. 

Since joining Max Life, Kriti has made indefatigable efforts to attain lofty goals. Her ability to influence without authority has made her a great people leader.

Moving to another woman who has been trailblazer in the insurance sector is Sneha Shah, who is currently whole-time Director at Unison Insurance. Serving the organisation for over 20 years, Sneha Shah has brought groundbreaking results for elevating Unison Insurance to new heights. She bags immense experience and possesses myriad skills in tackling all lines of insurance and re-insurance business.

When there is a talk about the leadership quality in the insurance sector, one cannot afford to forget the name of Dr Soumya Tyagi Gautam, who is Chief Operating Officer at Raksha Health Insurance TPA Pvt Ltd. She is a result oriented and multidimensional visionary personality having more than 25 years of experience in the insurance industry.  Dr Soumya Tyagi Gautam is blessed with skills to create and execute systems to minimize operational risks for the organisation. Working on transformation initiatives through the deployment of automation via AI and machine learning, she is always on the go to make the business future ready.

Undoubtedly, women possess the natural ability of bonding and connectivity. They are more focussed to achieving their targets and touted as hard-task masters. The immense contributions of such women have brought down the gender gap in the insurance sector. Their roles are commendable and have set the precedent that the insurance field is not the domain of men only.   

For a nation where around 49 percent of the population is made up of women, they are not represented fairly in terms of insurance cover. In Indian families, men are generally seen to take insurance cover to tackle any unforeseen incidents in life. 

Despite working hard on professional and personal fronts, women are seen to underestimate the need to insure themselves and secure the future of their dependents. 

This mindset needs to be changed now. On the occasion of International Women’s Day — a global event dedicated to celebrate the social, economic, cultural, and political achievements of women, as well as raising awareness of the ongoing struggle for gender equality — a collective effort should be made to bring awareness of the significance of insurance cover for women. 

There are so many insurance policies in the market for women. However, HDFC Life Click 2 Protect Super has caught attention for its multiple advantages. This plan could provide a woman varying cover along with comprehensive protection as per her evolving needs. One can get back all premiums paid on survival till maturity with return of premium option. It also gives an additional amount payable in case of accidental death during policy term. The product provides acceleration of death benefit on diagnosis of specified terminal illnesses, till age 80 years. So, you can visit HDFC Life website now to get the ideal insurance cover for yourself. 

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First published on: 06-03-2023 at 13:36 IST