‘It’s getting better’
Inclusion has improved and the boys’ clubs may be disbanding, but our wellness study shows burnout remains an issue and mentorship is in crisis
By Miranda Maxwell
If the industry was vying for a sports award, findings from the latest Insurance News Wellbeing Survey may well qualify it for “most improved player”. While burnout and an industry image problem persist to a worrying degree, there are clear signs of cultural progress.
We found 78% of the almost 1000 professionals polled online in September, in partnership with Allianz, would encourage school leavers to pursue insurance as a career, and 69% agree it is a good sector for women.
“My eldest daughter will, I hope, be an insurance broker,” said a New South Wales mother.
An underwriter said: “My own son is joining at the age of 23 in the next few weeks. The industry has so much to offer that people are not aware of.”
And a female professional aged under 30 said: “The stability and remuneration can’t be matched.”
In another positive, only 10% feel excluded by the culture at their workplace. A professional in South Australia says the insurance industry “has improved out of sight in relation to being all on the same page in acceptance of diversity and inclusion”.
Another commented: “It has changed dramatically, come a long way.”
One respondent added: “It’s a completely different landscape – companies are proactive in creating and advocating for inclusive and diverse workplaces.”
A Victorian woman praised “more visible LGBTQI+ in senior executive roles. I’ve noticed a real positive shift,” while a New South Wales man said his company had gone from 100% males to about 60-40 men-women in 10 years.
Not all reactions to cultural change were positive. One respondent said the industry had “flipped too far” and was “making sure there are females and other minorities in positions that perhaps are not suitable for them just to make sure that the industry looks like it is doing ‘the right thing’.”
But most applauded the shift in hiring patterns and opportunity for under-represented groups.
“It is changing, which is amazing. I am proud of our industry,” said an operations staffer.
Plenty noted there was still work to do, and the industry’s “appallingly wide” gender pay gap in favour of men drew frequent mention.
“It’s better than it was,” typifies many of the comments. A woman in her 50s said: “It’s getting better, but it is still very blokey and there is still a significant gender wage gap.”
Another responded: “We’ve moved past strip clubs but not beyond a boys’ club. But it is being recognised, reviewed and discussed.”
An underwriting agency manager spoke of “general awareness of [diversity, equity and inclusion] principles and unacceptable sexual or predatory behaviours being stamped out”.
But a Queensland professional was “sick of platitudes about how valued women are and frivolous International Women’s Day events that achieve nothing”.
She said senior women “could do so much more to elevate this topic and create meaningful change for the rest of us. The boys aren’t going to do it.”
More comments on workplace diversity
“It still has the residuals of an entrenched male-dominated culture.”
“Still often men in the higher-paying roles, with women making it work and cleaning up the mess.”
“It depends on your manager and the tone from the top of the mothership.”
“Unfortunately, insurance in regional areas is still a boys’ club.”
“Still geared towards the boys in conversations: football, drinking, gambling.”
“Senior leaders mainly male and more likely to recruit someone who looks like them.”
“Still a hard slog.”
Bullying and burnout
New to the results this year was a surge in comments stating new entrants are not receiving adequate training and mentoring (more on that later).
And workloads were again described as overwhelming. Asked “have you felt burnt out during the past 12 months?” three-quarters said yes.
Poor wellbeing was again a standout problem, with 52% of respondents having suffered mental health issues in the past 12 months and 36% seeking professional help, mostly from their GP or a psychologist.
We heard 28% of those polled do more than six hours of overtime in an average week. Four in five respondents have trouble switching off from work.
“Advised HR and was just given more work,” was one response.
The industry’s poor reputation was flagged as a problem yet to be solved, with 89% saying sector leaders and associations could do more to promote the value insurance provides.
Only three out of more than 600 respondents checked “positively” when asked: “How do you think the broader Australian community views the insurance industry?”
Of the rest, 87% said it was viewed negatively and more than one-third felt the industry’s reputation had worsened in the past 12 months; 133 people told us the industry’s poor image affected their self-esteem.
About 23% had been bullied or harassed at work, while only 22% said they never faced aggressive customers. Bullying was attributed in part to workloads, customer expectations and the serious nature of claim issues such as sexual assault and financial exploitation.
“A lot of issues would be avoided if policyholders actually understood their [product disclosure statement] before making claims. Too many aggravated people to deal with who feel hard done by, when really it’s a lack of understanding of policy coverage,” said a Melbourne professional in his 30s.
Some more thoughts on aggression
“Customers and third parties bully and harass claims staff regularly.”
“It is the worst I have ever seen it. I have never been spoken to and treated with so much disrespect in my entire career and that is saying something, as I started work in the male-dominated period of business in the late-’80s and ’90s.”
“It would be helpful to create a safer environment for staff and management.”
“Forty-four years in the industry and I still come up against sexual discrimination and bullying from men.”
“The bullying, harassment, favouritism, lack of empathy, pressure by an ignorant and heartless team of executives is unbelievable. I lost faith in the corporate world.”
“Recent experiences of bullying and misogyny have left me feeling alone in the organisation.”
Image problems
On reputation, the ongoing problem was blamed on politicians, media (particularly the ABC’s exposé on strata), regulators, poor understanding of insurance, “skyrocketing” premiums and “huge” insurer profits.
“We are silent on the good work we do for customers and communities beyond simply insuring them. We don’t educate customers about how insurance works … and why it’s so important to read a PDS,” said a Queensland professional. An underwriter said: “The media isn’t behind us, so even as we improve, it isn’t communicated to regular people.”
A risk manager said: “One bad story tars and feathers the entire industry and creates very … far-reaching fallout that is long-lasting.”
And a Queensland professional in strategy blamed a “mismatch in expectations … what customers think they are covered for and what they’re actually covered for”. They added that “massive profits in the industry also don’t help, as it’s seen as profiting off people’s misfortune.
“The industry doesn’t promote how much they have paid out on claims well enough to balance this view.”
A New South Wales underwriter said the public perception of insurance in Australia had shifted dramatically over the past decade.
“When … even intelligent and thoughtful commentators like Waleed Aly can rip into the industry with sweeping generalisations … there isn’t much to look forward to,” he said.
“None of this is helped by the mega-profits of the large insurers at the same time they scream poor and put significant rate increases through.”
More responses on stigma
“Our industry has a poor brand.”
“If [people] have a bad experience, they will tell every man and his dog.”
“The media blames insurers for not paying claims for excluded cover.”
“We don’t ping back at ignorance in the media.”
“I would put us above politicians, used car salesmen and lawyers, [but] affordability and claims impact the general public’s view of insurance.”
“The media and politicians have added to the bad rep we already had … [Peter] Dutton making ridiculous comments he’ll force insurance industries to lower their premiums, the white knight of the people. Puhleeeze!”
“Strata insurance should not be tarred with the same brush as the strata industry, which needs an overhaul.”
“People don’t trust insurers. Huge profits.”
“Premiums have gone through the roof in tough economic conditions while businesses are reporting record profits.”
“Have you received a renewal lately? If only I hadn’t sold my IAG and QBE shares.”
“We are sitting ducks for the media, who love a negative story. The industry does not do enough to promote itself.”
“The government of the day likes to use insurers as scapegoats when they should be taking accountability for allowing people to build in high-risk areas.”
“They belt us at every opportunity. Compliance overload, too much red tape, pricing too dear.”
“People only want to hear about what’s wrong. How do you change this mentality?”
“Far too many claims end up with AFCA. Try to solve issues.”
“We still have a way to go to improve stigma. We are changing but still require a lot of work to improve claims handling.”
“Some government and media figures would have the public believe the industry is a charity with unlimited funds.”
“Multiple inquiries/reports have been quite damning.”
“We make it hard for people to trust us.”
“Most of the time people have not taken out the right cover. The industry always cops it even though we pay 80% or more of claims.”
“Way more claims in last 12 months and not enough trained people in the industry to deal with it from loss adjusters, assessors, tradies, claims
handlers, first-point responders.”
“The industry never gets the recognition it deserves when big catastrophe events occur.”
“People don’t pay for something tangible unless they claim … that leaves a bad taste in people’s mouths.”
“People don’t understand insurance.”
“Insurance companies are still made out to be the bad guys when the government profits more from insurance taxes than the insurance industry does from premiums.”
Mentor drought
Our survey also found 61% of respondents believe not enough leadership talent is coming through as senior industry figures retire, and 55% say new staff are not appropriately trained and mentored.
A broker in South Australia called for “more modern thinking and ideas to draw in a younger demographic. If I were starting out looking for a job, this is not an industry that I would even consider an option because it has an older demographic and bad reputation.”
A Queensland claims professional said a bigger focus on training quality would reduce stress and have a “positive impact to mental health from the onset”.
“Take the time upfront, rather than quick, dirty training to get them on the floor then learn as they go,” he said.
Your comments on recruitment and training
“With high workloads, so many do not put in the time to mentor staff.”
“Honestly, I’d rather my son flip burgers at McDonalds than follow me into the industry.”
“Direct supervisor shouted at me and another stood over me telling me I should be better, quicker at things they have not taught me.”
“Intimidated and tormented through feedback from management, told what is wrong but not told what an acceptable alternative would be.”
“I can’t see any evidence of one-on-one mentoring. Complete basic ANZIIF or NIBA training and apparently you know everything.”
“There is no mentoring of staff that I can see. It is simply, ‘You need to do this better.’ ”
“Definitely a lack of quality training given the amount of errors and issues that get logged in claims.”
“Staff with less than five years’ experience are a danger to the industry because they don’t know what they don’t know.”
“We lack the capacity to provide adequate training.”
“Increasing workload limits the ability for proper training and mentoring that ensures there is an understanding of the ‘why’.”
“New staff require greater mentoring … rather than simply being shown how to operate their dashboard.”
“Our industry expects staff to learn as they go from their mistakes. Spending time in the shoes of a leader and shadowing them is a completely different experience.”
“I have personally had very little mentoring.”
“Textbook training cannot replace hands-on training and mentorship from senior brokers.”
