As we continue to celebrate women’s month, we reflect on the country’s index when it comes to women empowerment in strategic fields and positions.
While South Africa is making significant progress when it comes to women occupying roles across categories within the finance and insurance sectors, there is a considerable lack of women in senior roles in these fields.
This is according to recent findings in a global Deloitte study, which showed that South Africa is one of the few countries in the world that is predicted to come close to achieving gender parity within the finance sector as a whole by 2030, but has work to do in empowering more female leaders in the sector.
“I think it is encouraging that there are more women in insurance specifically, where the industry was once quite male-dominated,” says Kareena Inder, CFO at GIB Insurance. “I see it coming through in the young talent in the industry. But I also see the change with those around me who are raising children and who encourage the narrative that anything is possible. That being said, there is still work to be done, and it’s up to us to keep encouraging and motivating the next generation in the right direction.”
Raised by parents who encouraged her to be independent and relentless in the pursuit of her aspirations without holding gender to account, Inder says this uplifting start in life, along with the right support along the way, was an important foundation in her trajectory to success.
I have had, and still have, people that have guided and directed me throughout my journey.
“It hasn’t always been easy. I have faced some difficult situations and some difficult people throughout my career and on the road to becoming CFO, but having family, leaders and organisations that have believed and invested in me has been invaluable to my growth,” says Kareena.
She adds that mentorship is crucial in encouraging more women into senior roles across the insurance landscape, to be able to talk in a safe space and to learn from those more experienced and knowledgeable.
“I have had, and still have, people that have guided and directed me throughout my journey. It started with my parents, and I picked up on the ideals of people that I admired both personally and professionally along the way,” says Inder. “I still look to those around me, both personally and professionally, for inspiration and insights. I also have a great support system outside of work that offers varied perspectives, which is helpful.
“When I was six weeks away from writing my final strategic case study exam for CIMA, I got TB and it turned my world upside down. I faced a lot of uncertainty and anxiety, but instead of giving up, I prioritised my health and took the journey as it came. Passing that exam remains one of my top achievements and I wouldn’t be where I am today if it wasn’t for that approach,” says Kareena.
Embracing ‘traditional’ roles, rather than trying to shed them off as anti-feminist or antiquated, can also be a superpower. “I’m a daughter, granddaughter, sister, niece, aunt and friend, and each of these roles are very important to me. If anything, it is the traditional roles that add to being a better CFO or career-orientated person, as it is those relationships and roles that keep me grounded.”
Plan for what matters to you.
The journey to success as a woman is non-linear. Senior roles in finance and insurance are challenging enough without the demands that face women in the workplace who also choose to embrace traditional roles in the home and family structure. Bringing more women up the ladder to occupy leadership spaces in finance and insurance requires a bold reframing of what it means to be successful, and how women can attain it, she says.
“Plan for what matters to you,” Inder advises. “Set those boundaries to achieve the balance you need, but allow for a certain measure of flexibility when needed. And be intentional with your time. You alone are responsible for your balance.”
As women continue to break glass ceilings and strive towards stepping into leadership roles in the insurance industry, the rules to success, especially from the unique position and perspective of women, are evolving too. This evolution is setting the precedent for future generations, creating a platform of support empowerment, and encouraging more women to pursue careers in these fields.
