Law 102, established by the Legislative Assembly on June 2, 1979, declared March 8th as “International Women’s Day.” Also, in January 2022, the “Bill of Rights for Working Women in Puerto Rico was approved.” Women’s Day pays tribute of admiration to all women, and the Bill recognizes the work of working women.
In August 2021, a study conducted by the Colombian agency ProyectaT (country where insurers “cover 85 % of the market”) “revealed that the insurance sector ranks first in gender equality and sustainability.” It also noted that, in the insurance industry, women “[total de personas][represent] 62.8% of the [total number of people] who are linked to this sector.”
In the United States, women outnumber men in the insurance industry. Moreover, 60 % of employees in insurance companies are women and many of them have reported that “they enjoy the flexibility that a career in insurance allows, as well as the ability to help people protect the things that matter the most to them.”
Over time, the participation and weight of women in the insurance market has shown an increase, and their contribution to the economy has been transcendental.
Below are some data that demonstrate the importance of women in the insurance market.
· They make the most of opportunities, and that allows them to innovate.
· They strive to be truly empathetic to the needs of their customers.
· They know how to work as a team and collaborate to develop others.
· They have the ability to clearly conceive their objectives and priorities.
· They know the activities and steps they must follow to achieve their goals.
· They take responsibility for their successes and celebrate them.
According to a report by the Bureau of Statistic of the Department of Labor and Human Resources (DTRH, for its acronym in Spanish), the service sector represents the main source of employment for women, with an estimated 166,000 for 2019. This is followed by trade, with a total of 114,000 women working in this economic activity. It also revealed that the labor participation rate of women for 2019 stood at 33.5 %. This proportion was equivalent to 473,000 women in the workforce.
TOLIC is proud to have on our team the best representation of talented, hardworking, and entrepreneurial women in the insurance industry of Puerto Rico. At TOLIC, the effort and dedication of our employees is the reason for our success. And having such an incredible, diverse and inclusive team makes our performance so much better.