Women Leaders in Insurance in the USA | Elite Women

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Queens of coverage

Women are the powerhouses of America’s insurance industry, numbering 1.7 million and comprising 54.9 percent of the total workforce.

However, this dominance doesn’t extend into leadership roles, which is reflected in Insurance Business America’s Elite Women 2025 survey as 64 percent of respondents feel there is a lack of women leaders in the industry.

Data from the Bureau of Labor Statistics (BLS) confirms that women are the majority of the workforce, apart from those in C-suite positions where they number only 22 percent.

Data from 2010 to 2023 also shows that women have made up the majority of professionals in roles such as claims adjusters, appraisers, examiners, claims/policy processing clerks and underwriters. It differs for sales agents, where women have not always been in the majority but have never dropped below 45.2 percent of the total.

These historical trends make the achievements of IBA’s Elite Women 2025 even more impressive for navigating bias and structural barriers to become successful leaders and executives.

The winners earned their place after their achievements and initiatives over the past 12 months were analyzed by an esteemed judging panel that included:

Jessica Hanson Hanna, American Property Casualty Insurance Association

Nancy Mellard, Association of Professional Insurance Women

Jenna Kirkpatrick Howard, Lockton

Joi Blume, GenStar Insurance Services

Kathy Quintana, HUB International

Jennifer Sharkey, Gallagher

Blume says, “Studies show that when women are at the table and in decision-making positions, the organization fares better overall, especially as far as financially and with so many of our pale, male, and stale colleagues aging out of the industry and retiring, this is a pivotal time.”

Another thing that stood out for Blume was how the Elite Women’s influence goes beyond their workplace.

“The group was talented, and they all seem like high producers within their organizations. We also saw a lot of things like community involvement, volunteerism and people who are well respected, not only in the industry but in their communities,” she says.

For Mellard, what’s impressive was the Elite Women’s dedication to champion others.

“They weren’t focused only on their day-to-day job. With most of them, there was a reference to caring for the team and expecting others to advance.”

She also underlines the biggest strength needed to succeed in the insurance industry.

“Without a doubt, it is empathy and that translates to emotional intelligence. It helps you to understand customers and team members better.”

Mindsets of the USA’s women leaders in insurance

Alliant Insurance Service’s Kirsten Handel attributes her success to being strong. After beginning her career in underwriting, she moved on to the actuarial sector and is now client facing.

“Insurance is all I’ve ever done, and I grew up through the ranks, and it hasn’t been easy,” says the senior vice president. “There are always new things to learn, but the core fundamentals remain the same, so being strong helps you get through. I was never the smartest, but I worked hard to learn, understand, and adapt in addition to keeping my relationships and building new ones.”

“Growing a book of business or running a team every day is like being a firefighter because client requests come in, or they have a loss and your team needs help. It’s a very high-paced environment and you have to stay on top of it”

Kristen HandelAlliant Insurance Services

Being resilient is also something Rekha Skantharaja advocates. The CEO of Tangram Insurance refuses to be put in a box and wants to show the industry that women leaders are more than token figures. If asked to an address a subject like work-life balance or self-care, she refuses.

“Whenever I am asked to give a keynote or speak on a panel around these topics, I politely decline to participate,” Skantharaja says. “My male CEO counterparts are not being asked to discuss these things. They are busy exposing their views on M&A and valuation trends, tech transformation and big data, the art of negotiation, and building the next $1-billion unicorn.”

A big part of Skantharaja’s ethos is being courageous as a leader.

She says, “We are at an inflection point for women in this industry and it’s time to lean deeply into the areas that have typically been guarded by the men.”

Adaptability, resilience, and a client-focused mindset have all been key to enabling Catherine Lyle’s rise in the industry.

“My goal is to make the claims process as efficient and supportive as possible. Staying innovative isn’t optional – it’s essential to provide value to our clients and respond effectively to emerging threats”

Catherine LyleTokio Marine HCC – Cyber & Professional Lines Group

Now, as senior vice president, and head of cyber claims and incident response at Tokio Marine HCC, she spreads that energy among younger colleagues.

“Thankfully, there are many amazing women within or entering the industry, and this is something I am passionate about,” Lyle says. “I believe in creating opportunities and offering guidance to help them navigate their careers. Mentorship is critical for building confidence, providing perspective, and empowering the next generation of leaders.”

Echoing the need to allow others to showcase their skills underlines the leadership maturity of Risk Placement Services’ (RPS) Sharon Novasel.

“I oversee our summer interns and aim to broaden their perspectives on the diverse career opportunities within the insurance industry”

Sharon NovaselRisk Placement Services

“As a manager, I have found that empowering team members to take ownership of their responsibilities and roles has been key to our department’s success in achieving our goals,” she explains.

Being strong and successful also involves understanding the need for personal growth. Refining her leadership style is something Christine Schneider, senior vice president casualty claims at Arch Capital, places a premium on.

She says, “I am aware of my weaknesses and know when I need to consult with colleagues and collaborate in order to efficiently find a resolution or execute on a goal.”

Awareness and understanding how to get the most from themselves is a quality shared among the Elite Women 2025.

“My strongest qualities are my ability to strategically problem solve, analyze situations, weigh risks, and make thoughtful decisions that are in the best interests of our client and/or the organization,” adds Schneider.

Ryan Specialty’s Brenda Austenfeld has carved out a reputation by setting standards.

“My goal is for our team to be the very best, not just in numbers or metrics, but in the way we conduct ourselves and the level of excellence we set.”

It’s been under a year since Stephanie Peters took on the role of vice president of client relations at RPS.

“All women in leadership should embrace being a role model for female peers”

Stephanie PetersRisk Placement Services

She has dealt with the challenge of increased responsibility of managing a team and has introduced new ways of operating.

“I was previously in a position where I was comfortable and stepped into a role that required me to adapt and embrace change. I am proud of how I handled the transition, and I am particularly proud of the support of my team and how the team embraced the changes.”

Resilience and determination mark out the Elite Women 2025, as they have had to come through challenging circumstances directly or battle structural bias.

IBA’s survey data shows that 33 percent of respondents believe they would have achieved more seniority if they weren’t female.

Sharon Novasel relishes working at RPS, where there is a strong focus on diversity and equity in the workplace, as she’s experienced the other side. Her career began during a time when women seldom occupied high-level positions.

She says, “I often wasn’t taken seriously, sometimes mistaken for the manager’s assistant, and was frequently dismissed and talked over in meetings. For example, when interviewing an agency for an appointment, I was frequently asked when my supervisor would make the decision, even though the decision was mine to make.”

Similarly, Lyle can sympathize with not being shown the same respect as her male counterparts.

“I would love to say that there were no roadblocks and that everyone was supportive of a woman with a voice. However, that was not the path,” she says. “One of the biggest challenges has been overcoming unconscious biases. Early in my career, I had to work hard to ensure my voice was heard in rooms where women were underrepresented. These challenges also fueled my drive to excel and create pathways for other women in the industry.”

IBA Elite Women 2025 judge Mellard acknowledges there are fewer barriers for women than there have been historically. To continue this trend, she feels women have to be more emphatic about their abilities.

Mellard says, “There is greater acceptance of broader skill sets that women bring, but barriers still exist because too often companies are rewarding those who they know as opposed to who you are. I don’t think today it’s because you’re a woman as opposed to a white man, but I do think the barrier is women need to do a better job to intentionally and confidently explain their array of skills.”

Another of 2025’s Elite Women resonates with Nadia Hoyte, cyber national practice leader at USI Insurance Services. She recalls being “second and third guessed” and then attaching a meaning to that which chipped away at her confidence, before she understood where these perspectives come from.

IBA judge Blume is pleased to see how women leaders are breaking through and emphasizes how important it is to keep the momentum.

She adds, “We’re really at a crossroads, and I think we need more of our white male counterparts to become allies and take a true interest in our success, to see us not just as competition, but an equally powerful force.”

Women leaders in insurance act as mentors

What is evident from the Elite Women cohort is how willing and able they are to guide others. They create time in their schedules to ensure they can support, educate and upskill the next generation of insurance professionals, particularly younger women.

Alliant’s Handel has seen impressive growth figures in her region over the past 12 months, which wouldn’t have happened without her team.

“I’m very proud to be a part of hiring and bringing on some new team members but also mentoring a few of them,” she says. “I have people that have helped me from day one, and I still speak with them going back 27 years. I want to be that for the future and pay that forward. The relationships I’ve built and the trust I have garnered with some of our newer people, in addition to maintaining my clients, is probably the thing I’m most proud of.”

The popularity of video conferencing has also strengthened Handel’s impact.

“It’s actually expanded who you can learn from and who you can mentor because you’re not just with the people within your office. I’m working with people in Florida, Atlanta, California, Boston, and meeting all these people that I never really would have worked with closely.”

Lyle is another who is passionate about being there for the “many amazing women” entering the industry.

“I believe in creating opportunities and offering guidance to help them navigate their careers. Mentorship is critical for building confidence, providing perspective, and empowering the next generation of leaders,” she says.

Another who is active in ushering the next generation through is Novasel.

She says, “As a mentor to many women in entry-level positions, I offer guidance and encourage them to challenge themselves, building their confidence and assertiveness, and fostering an equal playing field for everyone.”

Legacy of 2025’s Elite Women

Another defining mark of this year’s cohort is leaving a lasting impact. Despite being a minority in the C-suite, the winners are able to implement strategies that affect not only their organizations but the wider insurance industry.

For Skantharaja, it’s instilling a culture of achievement.

“My approach to my career and my life is to be grateful but always a little restless. You should leave things better than you found them and raise the bar,” she says.

Risk Placement Services’ Karen McCarthy-Hawn promotes the need to be guided by “an ethical or moral compass”.

The claim advocacy manager does this by creating a collegial culture.

“Most of the obstacles can be overcome with collaboration and a willingness to implement the change needed to remove the barriers to success,” she says. “When I present any obstacles discovered in the claims or systems work product, I always expect to be an active participant in helping find solutions or to provide training to change future outcomes.”

Despite advancements in team building, along with tech tools and AI, there is still a need to roll up the sleeves and work hard. Handel is living proof and credits her success to never losing sight of that.

She comments, “Grit is still important. I don’t think there’s any magic pill or method that takes that away. You still have to work hard and stay with it.”