By Loretta L. Worters, Vice President, Media Relations, Triple-I
Growing up, Tracy Ryan always loved math. It came to her naturally. She liked the patterns, structures, and precision of math – “the poetry of logical ideas” as Albert Einstein put it. When she went to college, and then onto graduate school, her focus was on pursuing a career that aligned with her favorite subject.
“Back then, 35 years ago, I thought the best career for a math major would be education,” said Ryan, who in November 2024 became president and CEO of NCCI – the nation’s most comprehensive source for workers compensation data, insights, and solutions. “But my grad school professors encouraged me to get into the actuarial field, and that led me to pursue an insurance career.”
Ryan never thought about the demands of working in a male-dominated industry. When she applied for her first position in an actuarial department, almost all the people who interviewed her were women.
“When I joined the company, my first manager was a woman, and her manager was a woman,” she said. “So early on, I just had these incredible female role models who told me to keep my head down, focus on getting the work done, and learn from it, which was what I did. Through the actual program rotations, I got exposure to so many other aspects of the company.”
These mentors encouraged Ryan to pursue distinct roles and opportunities as they presented themselves.
“The mentors and managers I had along the way played this fundamental role in helping me navigate my career and seek roles that were outside my comfort zone,” Ryan explained.
Changing perceptions
The idea that women aren’t strong in math is a myth that persists in many industries, including insurance. But Ryan has worked hard to change this perception.
“It’s important that early on in a child’s education that they are exposed to female role models and to opportunities that will help them see their connection to math,” she said. “Math was always fun to me, particularly because the teachers made it exciting and helped dispel the myth that women aren’t good at it.”
Ryan mentioned that at NCCI, there are two programs to ensure young women are exposed to and excited by math and STEM more broadly.
“The first is a math mentors’ program, where our employees tutor elementary school students and help support their growth in math,” she said. “We also have a Women in STEM program called WINS. It’s an informative and engaging view of the technology field for middle and high school girls. By having this exposure and these role models, these young women will feel more connected and excited about pursuing a career in mathematics.”
Only about 22 percent – less than one in four – C-suite leaders are women, yet Ryan has held several C-suite positions at major organizations across the insurance industry. She attributes her success to the experiences she’s had that shaped her into the leader she is today.
“With every leadership role that I’ve had, I’ve gained new perspectives and learned a lot about what it is to be a leader in this industry. I’ve realized that I don’t have to copy someone else’s model of what a leader looks like or acts like. I’ve built the confidence to lead with my own voice and my own genuine approach to the roles I’ve had.”
Ryan said her leadership style is grounded in trust, authenticity, and collaboration.
“I firmly believe effective leadership starts by fostering a culture where all voices in the organization are heard and valued,” she said. “Leadership is all about people, and that’s a tremendous responsibility that we have as leaders. Because of that, I look to create environments where the growth and well-being of the team are prioritized and where I show up every day for those people and the industry that I serve.”
Ryan said being authentic is important – for men and women – yet many struggle with that.
“You think to do that role you have to do it exactly like the person who held the position before you, especially if that person was successful,” she said. “But realizing and trusting that you can bring your own unique perspectives and leadership style to the table is incredibly important. I’ve always had this idea that you should be the leader you always wish you had…. I tell people who are early in their career, ‘If you don’t see it, be it.’”
Ryan said there is a lot to be excited about with advances in data analytics and AI, but she believes relationships based on trust and collaboration will continue to be the foundation of success in the insurance industry.
“When we have those elements, we can create environments where creativity and innovation thrive, where new ideas are welcome,” she said. “Those environments create opportunities for everyone to rise and succeed.
“The P&C insurance industry is so integral to maintaining economic resilience, improving safety, and more broadly supporting society,” Ryan added. “What we do is incredibly important and meaningful work. On top of that, we get to meet so many interesting people from various backgrounds and get to learn about the companies and industries we insure. We also get to build long-lasting and rewarding friendships with colleagues and have fun along the way.”
