The mean gender pay gap at the Chartered Insurance Institute (CII) has almost halved in the past two years.
The institute’s gender pay gap has fallen from 28% in April 2017 to 14.77% April this year.
Sian Fisher, chief executive of the Chartered Insurance Institute, said: “Understanding the scale and nature of the problem and mastering the tools that can help us resolve it means that progress can be – and is being – made.
“I’m very proud that the CII has reduced its own mean gender pay gap. I know that we can’t be complacent, that we will always have to be vigilant against bias and continue to monitor and evolve our initiatives to support our colleagues.
“I also know what the insurance profession can achieve when it has a clear target and a reliable method for measuring process.
“I look forward to seeing many firms in our profession making progress in narrowing the gender pay gap.”
To assist the profession in tackling the gender pay gap, the CII’s ‘My Personal Finance Skills’ programme provides an opportunity to raise the profile of the profession to encourage both males and females to consider the varied roles available within the industry.
The CII has also led the ‘Insuring Women’s Futures’ initiative which has worked to raise awareness of gender stereotyping of roles and how this affects later pay disparities.