Andrea Balfour | Intact Insurance

Andrea Balfour, Deputy Senior Vice President, Atlantic Canada, Intact Insurance


One of the biggest roadblocks women face in their insurance careers isn’t always external, says Andrea Balfour, deputy senior vice president for Atlantic Canada at Intact Insurance.

“The most significant obstacle I’ve faced has often been internal,” Balfour tells Canadian Underwriter. “Self-doubt and the tendency to underestimate my readiness for new challenges.”

Mentors played an important role in helping her challenge that mindset.

“I’ve been lucky enough to have mentors who encouraged me to question those doubts and push me to stretch beyond my comfort zone,” she says. “Because of them, I took leaps I might have otherwise avoided.”

Trust yourself

Throughout her nearly two decades in insurance, the support of formal and informal mentors is what helped her build her confidence, encouraged her to take on stretch opportunities, and develop resilience, Balfour says.

“I consider myself fortunate to walk in the footsteps of many women who paved the way and made it possible for me to pursue a variety of opportunities,” she says. “As a woman in leadership, it’s important to have strong role models from whom I can seek guidance and advice.”

Mentors also helped reinforce an important lesson: raise your hand for opportunities and trust your instincts, she adds.

“While it’s crucial to seek input from others before making an important decision, my mentors have continuously reminded me that my instincts and judgement are what got me to where I am,” she says. “Trust in myself is just as important as the trust I place in others.”

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Learning across the business

Balfour entered the insurance industry while finishing her Bachelor of Social Sciences (Honors in Economics) degree at the University of Ottawa.

In her first weeks in the industry, she quickly realized curiosity and continuous learning were core to her career growth. “I had always enjoyed helping customers find simple solutions to complex problems, and the insurance industry was the perfect place for me to leverage that skill,” she says.

As her career progressed, she gained experience across a variety of leadership roles across underwriting, distribution, and marketing.

Being open with her leaders about the parts of the business that interested her led to opportunities in areas outside her comfort zone, she adds. They included marketing and working on large operational transformations and major system implementations.

Shared accountability

Although awareness of gender equality has expanded in the industry, Balfour believes there’s more work to be done.

“At the end of the day, we want our leadership team to be a reflection of the communities we serve,” she says. “Celebrating and elevating women’s achievements in the industry sends a strong signal to others that we’re thriving in these roles.”

Talent practices need to have a deliberate and structured approach to ensure the right levels of representation, she believes. That means identifying and developing women early in their careers and creating mentorship, coaching and stretch opportunities that help build leadership skills.

“Without this thoughtful approach, I don’t think we can expect it to happen organically.”

Support for gender equity should also extend beyond women leaders themselves.

“Some of the most powerful allies I’ve had throughout my career have been my male colleagues who have supported gender equity in the organization and who have challenged gender biases,” she says. “This points to having an approach that is organization-wide, with shared accountability to achieve the equal representation the industry hopes to achieve.”