Women are leading the entrepreneurship charge


Historically, insurance has always been a very male-dominated industry. In recent years, female entrepreneurship has been on the rise, with successful results in the insurance industry as women seek balance and diversity.


According to Liberty Mutual, one of the nation's largest insurers, women outnumber men in insurance agencies, making up nearly 60% of agency employees, with many saying they enjoy the flexibility that a career in insurance allows, as well as the ability to help people protect the things that matter most to them. This data is not specific to entrepreneurship but it is safe to say that women are playing an overall larger role in the industry than men these days.


When looking at trends across all industries American Express reports that since 2014 the number of women-owned businesses grew by 21% to nearly 13 million in 2019. Even more impressive, there are 12.3 million women owned businesses in the US as of January, 2022.


It can be concluded that women and men often have far different characteristics and strategies to capitalize on. While every approach can present pros and cons, women seem to focus more on the details thus being more organized as a result. Women seem to put more emphasis on slower, more methodical growth that generates longer lasting client relationships and higher profit margins, whereas men tend to be very good at driving top line revenue and rapid growth by way of their competitive nature. Keep in mind, these statements are not all inclusive! We have seen both women and men that buck the trends.


Overall, we think it is safe to say that women are leading the charge in the insurance industry and will likely make changes that will shape the future for insurance agents. At Pacific Crest, we encourage women to learn more about owning an independent insurance agency. We have very successful woman owned & led agencies in our alliance who are eager to empower others and make a footprint in lady-led insurance and financial services.