Most companies would never dream of operating without a board of directors.
Boards provide oversight, challenge assumptions, offer expertise, identify risks, and help leaders make better decisions. They exist because even the most capable executives benefit from trusted counsel and diverse perspectives.
Yet many professionals attempt to navigate their careers alone.
We invest heavily in qualifications, technical expertise, and professional development. We work hard to become experts in our field. But we often neglect the network of people who can help us identify opportunities, challenge our thinking, and advocate for our advancement.
Perhaps it is time we borrowed a page from the corporate playbook.
The concept of a “Personal Board of Directors” has become increasingly popular among leadership experts and executive coaches. The idea is simple: intentionally build a group of trusted advisers, sponsors, mentors, challengers, and connectors who can help guide your career journey. The CFA Institute describes these individuals as “career allies” – people who provide support, perspective, and access to opportunities that would otherwise remain out of reach.
For women in the insurance industry, this may be one of the most powerful leadership strategies available.
The career boardroom we often overlook
Many of us grew up believing that hard work alone would be enough. Deliver results. Be dependable. Let your performance speak for itself.
Performance certainly matters. But research suggests it is not the only factor that determines career progression.
Leadership expert Herminia Ibarra, writing in the Harvard Business Review, argues that women are often “over-mentored and under-sponsored.” Her research found that while women frequently receive advice and developmental support, they are less likely than men to have influential leaders actively advocating for them behind closed doors when promotions, high-profile assignments, and leadership opportunities are discussed.
That distinction is important.
Mentors advise. Sponsors advocate
A mentor helps you prepare for an opportunity. A sponsor helps ensure your name is on the list when opportunities arise.
Research conducted by the Center for Talent Innovation found that professionals with sponsors were significantly more likely to be considered for stretch assignments and advancement opportunities than those without sponsors. Sponsorship creates visibility, and visibility often precedes opportunity.
This challenges a common assumption many women hold.
When faced with a career opportunity, our first instinct is often to ask whether we are ready. Should I complete another qualification? Gain more experience? Wait another year?
Sometimes the barrier is not readiness.
Sometimes the barrier is access.
A strong personal board helps bridge that gap.
Build a board, not a single adviser
Imagine a board made up of different roles.
One person acts as a mentor, helping you navigate complex career decisions. Another serves as a sponsor, advocating for your advancement when you’re not in the room. A third is a challenger who asks difficult questions and helps you avoid complacency. A fourth is a connector who introduces you to influential networks. A fifth may be a trusted peer who understands the realities of balancing leadership ambitions with everyday responsibilities.
Each fulfils a different purpose. Together, they create a support structure that is far more powerful than any single adviser could provide.
The importance of these networks is becoming increasingly evident. Recent research published in the journal Gender, Work & Organisation describes sponsorship as one of the most effective mechanisms for helping women access leadership opportunities because sponsors use their influence and organisational capital to create visibility and credibility for emerging leaders.
In other words, sponsorship is not simply about encouragement. It is about advocacy.
This is particularly relevant in an industry like insurance.
The sector is being reshaped by artificial intelligence, climate risk, changing customer expectations, evolving regulation, and new business models. The challenges facing today’s leaders are increasingly complex. No single individual has all the answers.
The leaders who thrive will not necessarily be those with the most experience or the longest résumés. They will be those who can access diverse perspectives, learn continuously, and make better decisions through collaboration.
That is precisely what a personal board enables.
Challenge yourself through diverse perspectives
Importantly, your board should not consist solely of people who agree with you. Effective corporate boards are valuable because they challenge management’s assumptions. Personal boards should do the same.
Growth rarely comes from comfort.
Some of the most valuable people in your network will be those who ask the difficult questions: Why are you settling? Why haven’t you applied? What would you do if you knew you could not fail?
These are often the conversations that change careers.
Nor should your board be limited to people within your organisation. Some of the most valuable advisers may come from different industries, generations, or professional backgrounds altogether. Diverse perspectives frequently reveal opportunities and blind spots that we would otherwise miss.
You do not have to navigate it alone
Perhaps the greatest benefit of a personal board is confidence.
Not the confidence that comes from having all the answers, but the confidence that comes from knowing you do not have to navigate uncertainty alone.
Every leader faces moments of doubt: whether to pursue a promotion, accept a new role, change direction, or step into a leadership opportunity that feels slightly beyond reach.
Having trusted advisers does not eliminate uncertainty.
It simply makes it easier to move forward despite it.
As women continue to shape the future of the insurance industry, the question may no longer be whether we need mentors.
The better question is whether we have built the boardroom around us that our careers deserve.
Because if successful organisations rely on boards to achieve their full potential, perhaps successful professionals should too.
References
- Ibarra, H. (2019). A Lack of Sponsorship Is Keeping Women from Advancing into Leadership. Harvard Business Review.
- Hewlett, S.A. (2013). Forget a Mentor, Find a Sponsor. Center for Talent Innovation.
- CFA Institute (2018). Career Allies: Build Your Personal Board of Directors.
- McDonald, P., Charlesworth, S., & Graham, T. (2024). Research on sponsorship and women’s career advancement published in Gender, Work & Organization.