From aspiration to ownership: Why women are the next generation of insurance agency leaders

A few years ago, at one of the women’s conferences my team at Liberty Mutual hosts each year, I met a woman who was weighing a big career decision. The owner of the agency where she worked was retiring and asked if she was interested in purchasing the agency.

Though the woman had worked in the agency for more than 20 years, the idea of owning an agency had never crossed her mind. She was a committed team member – the personal lines manager for the agency – but she never imagined herself as the owner.

At the conference, she met other women who had made the transition into agency leadership. When she shared her hesitations and uncertainties about the decision she was facing, these women asked thoughtful questions, helped her think through the possibilities, and reminded her of the strengths she was already demonstrating every day in her agency. By the time she flew home, she was ready to take the leap.

Her story is one of many that remind me how much leadership potential is waiting to be unlocked in independent insurance agencies today. In my 40+ years in the industry, I’ve seen how often women are the ones keeping agencies running behind the scenes – managing teams, serving clients, and driving results. For too long, their contributions haven’t translated into leadership titles or ownership opportunities.

However, the 2026 Independent Agency Growth Study from Liberty Mutual shows early signs that the industry is on the verge of a demographic shift in agency leadership. The study found that more women across the independent agency channel are expressing interest in leadership, and more women are being actively developed for leadership roles. While men still hold the majority of leadership positions in agencies today, there is a strong pipeline building of women who are ready to lead.

The leadership ambition gap is closing for women

Women are not inherently less ambitious than men. But across many industries, systemic barriers and uneven access to support created a gap in leadership aspirations.

However, the research shows that gap is starting to close in agencies, especially among younger generations. The 2026 Independent Agency Growth Study found that 62% of millennial women aspire to one day lead an agency, up from 50% who said the same in 2023. While men still report higher aspiration (77%), the gap between men and women has been nearly cut in half in just three years.

More women are being developed for leadership

Part of the reason for the growth in ambition may be a more equitable approach to development.

In 2023, only 38% of millennial women said their manager was actively developing them for leadership, compared with 55% of millennial men. In 2026, that gap has closed, with 59% of both men and women reporting that they received development support from their manager.

This indicates that more agencies are recognizing and investing in women’s leadership potential. The investment is paying off in how women see themselves and their future careers.

Women feel optimistic about their skills and career growth

Like the woman I met at the conference, women in agencies are increasingly recognizing their own potential. In the 2026 study, 88% of millennial women said they have the skills to grow their career, up from 70% in 2023. And 70% of millennial women said they are optimistic about their ability to grow in their agency, compared with 56% who said they were excited about their future in their agency in 2023.

But it’s not just younger women: Gen X women also reported higher levels of optimism about their skills and their career growth, suggesting that this is not just a generational change, but a broader cultural shift in agencies.

The future of agency leadership is female

A year after I first met that woman at the conference, I ran into her at another event. She pulled me aside to tell me that she had bought the agency. I was thrilled for her. She may not have originally pictured herself as an agency owner, but when given an opportunity, proper support, and a clear path forward, she stepped into leadership with confidence.

I’ve met many other women like her – women who are highly capable and ready for leadership. As someone who has spent decades championing women and diversity in insurance, I’m proud to see the positive momentum of more women stepping forward to lead, and I’m happy to see their managers taking notice and investing in them.

Women already make up the majority of the workforce in insurance agencies, and they’re already driving strong results. It’s well past time for agencies to tap into that pipeline and meet the growing ambition with opportunities.