Empowering Women In Insurance: Reena Tyagi, Future Generali India Life Insurance

As Women's Equality Day (August 26) sheds light on the ongoing struggle for gender parity, Reena Tyagi, the Chief Human Resources Officer (CHRO) of Future Generali India Life Insurance (FGILI), shares her insights into the significance of this day within the insurance industry. With a deep understanding of the field's dynamics, Reena elaborates on how Future Generali is actively contributing to the advancement of women in the sector, creating an inclusive work culture, and fostering gender equality. Excerpts from the interview:

Could you share your perspective on the significance of Women's Equality Day in the context of the insurance industry?

Women's Equality Day holds substantial significance in the insurance industry as it provides an opportunity to reflect on and address gender disparities. It highlights the importance of equal opportunities, representation, and empowerment for women within the sector. In India some of the most prominent distributors and at the ground level some of the most successful agents are women. Achieving gender equality in the insurance industry not only promotes fairness but also fosters diversity of thought, innovation, and improved decision-making.  

How has Future Generali India Life Insurance been actively promoting gender equality and diversity within its workforce?

We’re committed to promoting diversity of all nature within our workforce. We actively encourage an inclusive work culture where every individual feels valued and respected, regardless of gender. We have implemented initiatives focused on attracting, retaining, and developing female talent, ensuring equal opportunities for growth and leadership positions. 

In your role as CHRO, what initiatives or programmes have been implemented to empower and support women employees at Future Generali?

Several initiatives have been introduced to empower and support women employees at Future Generali. Some of these include mentorship programmes like 'She Leads', which has already completed 2 seasons touching the lives of more than 200 women colleagues. We offer leadership development and networking forums and specialised training programmes for women. We also encourage the next generation of Women Leaders through FG Cub – a scholarship for Girl Children of our employees. We provide a safe and supportive work environment and flexible working options, enabling women to thrive in their personal and professional lives.

Could you highlight some of the challenges that women typically face in the insurance sector and how the company is addressing them?

In my opinion, the biggest challenge today is the limited representation of women in leadership roles. At FGILI, we are proud to have women leaders make up 25 per cent of our Strategic Roles. Some of the other issues are gender bias and we address this by implementing gender-neutral policies and unconscious bias training. We also provide comprehensive support systems, such as flexible work arrangements and equal pay practices, to ensure that women employees can excel and overcome these challenges.

What steps has Future Generali taken to ensure equal opportunities for career advancement and leadership roles for women within the organisation?

Future Generali is dedicated to ensuring equal opportunities for career advancement and leadership roles for women within the organisation. We’ve implemented a structured approach that includes leadership development programs, succession planning, and talent management initiatives with a diversity lens. Regular diversity and inclusion dashboard audits are conducted to identify and address any potential areas of imbalance to ensure equal opportunities for all. It also included a KPI on CEO and Leadership BSCs.

In your opinion, what role does diversity and inclusion play in the success of an insurance company?

Diversity and inclusion are key drivers of success for any industry. At Future Generali, we understand that diverse perspectives lead to innovative solutions and improved customer experiences. We foster diversity by implementing inclusive hiring practices, offering training on unconscious bias, and ensuring equal opportunities for everyone. We have a Chief Diversity Officer role and a Diversity Champion who are responsible to guide and monitor the progress of our diversity initiatives.

Mental health and well-being have gained prominence. What measures has Future Generali taken to support employees' mental and emotional well-being?

Future Generali prioritises the mental and emotional well-being of its employees. We have established dedicated wellness programmes and initiatives that focus on the physical, mental, and emotional well-being of our employees. We are working towards getting on-call counseling, and other employee assistance programmes to support our employees' and their overall well-being. We firmly believe that a healthy workforce leads to enhanced productivity and employee satisfaction.