Investing in change

Stella Insurance CEO Sam White shares how the company is helping to make life easier for women

Stella Insurance was created to “rewrite the rulebook around the traditionally male-dominated financial services, and do that whilst supporting other women, particularly the most vulnerable who have been victims of domestic abuse,” says CEO Sam White. “We’re looking to balance the gender biases that exist for women in Australia – both in the insurance industry and life in general.”

CHANGING THE STORY

Founded in 2020, Stella caters specifically to Australian women, who are statistically safer drivers and deserve more appropriate insurance options. And they’ve already seen results from their fresh way of doing business.

“We have begun to get the industry to see that perhaps the products currently in existence had not been designed with women in mind, and we have challenged the status quo with our marketing, product design and company ethos,” says Sam.

Beyond insurance, she sees her work as part of a broader change: “Overall, we are seeing far more senior female appointments, and COVID has pushed the sector to think more in terms of flexible working, which has a more significant impact on women, who tend to be the main caregivers. We have seen much more interest in environmental, social and governance investing in terms of start-ups and expanding businesses over the past 18 months as well.”

GIVING BACK TO WOMEN

“Our brand is challenging the existing norms and encouraging women to celebrate who they are,” says Sam, who’s leading the charge for change. “The predominantly female Stella team is showing the industry what women can achieve when supported. Most importantly, the $5 from every new car insurance policy we give to WAGEC [Women’s & Girls’ Emergency Centre] shows that you can give back whilst still growing a successful business.”

WHAT’S NEXT?

Sam has never been one to rest on her laurels so, as you’d imagine, she’s ready for the next challenge. “It’s a big vision, but we believe that with an equitable future, everyone wins,” she says. “Stella started out in motor insurance. We want to extend that out to other product lines, like home and travel. We will also be looking to launch in other territories, starting with the UK, which is exciting.”