Listen to this articleBelow is our recent interview with Leslie Nylund, CEO of Shirley:
Q: How is Shirley different from other insurance brokers?
A: Thank you for asking! First off, we invest 10% of our profits in women-led companies. Secondly, because we’re mission-driven in this way, we don’t discriminate on size—we serve everyone from startups to nonprofits to Fortune 500 companies. When you join Shirley, you become a partner in our mission, so we want everyone to be part of it. And third, service excellence is in my broker DNA. Many businesses forget who their broker even is! That will never happen with Shirley. We’re a helpful presence, and we’re committed to helping every client thrive.
Q: Why does Shirley commit 10% of profits to investing in women leaders succeed?
A: Let’s be honest—for a long time women were kept out of leadership roles by tired old notions about our weaknesses. Women still represent less than 5% of chief executives in the most profitable US companies. As a female executive, I know it’s up to me to “be the change.” We have to work together to level the playing field, and that’s what we’re doing with Shirley.
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Q: Why are you so passionate about putting women in leadership positions?
A: The research is now well-established on this—women in executive positions and on corporate boards lead to higher margins, bigger profits, and more satisfied employees. Women in C suite roles are less likely to leave companies, too, so we are a great investment. Women embody excellence in leadership roles, yet we’re still less likely to be promoted. I recognize that this reality isn’t going to change itself. Women leaders need to work together to ensure that the next generation of women sees a clear path to leadership.
Q: Is Shirley only for women-led businesses?
A: Shirley’s insurance and risk management services are for every company, but we’re focused on investing in exclusively women-led companies. I’m well-aware that people of color are underrepresented as leaders, too, and I would love to create a similar initiative for helping racially-diverse people succeed in leadership roles.
Q: What was it like climbing the corporate ladder as a woman in a male-dominated field?
A: As a young, ambitious woman in a male-dominated field, I felt like the glass ceiling was reinforced concrete. I worked twice as hard and took every possible opportunity to improve myself, just be considered for the next promotion.
Q: What advice would you give to businesses that want to achieve gender equity?
A: Equal representation isn’t hard. Our population is 1:1 male to female, so that’s the ratio companies should aim for in leadership. Companies who care should make this a key goal for the entire organization. And in industries that aren’t attracting women, companies should lobby their trade organizations to find out what the barriers are, and address them creatively.
Q: What was the best advice you got as a young, ambitious insurance executive?
A: Learn the business, be technical and knowledgeable about the products, have a sponsor, don’t stay in one position, and always be learning.
Q: What was the worst advice you got as a young, ambitious insurance executive?
A: Hold off having children because it will hurt your career.
Q: How has the insurance industry changed in the last two decades?
A: Advances in digital communications and computing have made things easier in many ways, but in some cases they’ve reduced personal engagement. Real relationships between brokers and clients are as important as ever, so I don’t believe in automating everything.
Recommended: Q: You’re an executive at the insurance brokerage AHT. How did you get them to support this passion project?
A: AHT is an employee-owned company, and its CEO is committed to fostering inclusivity and a diverse work force. When I showed him what I wanted to do with Shirley and why, he was 100% supportive.
Q: How can companies make the most of their relationship with their insurance brokerage?
A: This is so important! If you feel like you’re just an account to your current broker, you’re likely to benefit from a different approach. Ideally, you’ll be able to bring your broker into the fold of your business the way you would with your accounting or law firm.
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