{"id":28188,"date":"2026-05-22T04:00:00","date_gmt":"2026-05-22T02:00:00","guid":{"rendered":"https:\/\/www.thebrokernews.ch\/?p=28188"},"modified":"2026-05-13T08:30:11","modified_gmt":"2026-05-13T06:30:11","slug":"leadership-powerageing-insurance-rethink","status":"publish","type":"post","link":"https:\/\/www.thebrokernews.ch\/en\/leadership-powerageing-insurance-rethink\/","title":{"rendered":"Leadership, power and ageing: Why insurance companies need to rethink"},"content":{"rendered":"
Leadership, power and ageing: Prof. Dr. Lioba Werth has played an active role in shaping the development of business psychology in Germany.<\/span><\/div>\n\n

Experience is being weeded out, while the shortage of skilled workers is growing. Business psychologist Prof. Dr. Lioba Werth explains why companies are failing strategically when it comes to ageing and why real leadership today<\/s><\/a> has less to do with tools than with attitude. <\/strong><\/p>\n\n

Demographic change, a shortage of skilled workers and increasing pressure to be efficient are posing fundamental questions for companies. At the same time, the understanding of leadership is also changing: away from methods and management tools and towards reflection, responsibility and an inner attitude. <\/p>\n\n

Business psychologist and top-level consultant Prof. Dr. Lioba Werth combines both topics. She has been working with managers at board level for decades and observes how power, age and values often unconsciously shape<\/a>actions. Older employees often play an underestimated role in this.<\/a> In an interview with thebrokernews <\/em>, she talks about the “courage of ageing”, the underestimated risks for companies and why experience could become one of the decisive competitive factors in the future. <\/p>\n\n

Professor Werth, you have played an active role in shaping the development of business psychology in Germany. What originally fascinated you about the combination of psychology and business and what fascinates you about it today? <\/h6>\n\n

I was irritated early on by how irrational economic decisions often are – and how rationally they are justified at the same time. Psychology shows: People rarely make decisions objectively. They make decisions – and then build a convincing story around them. <\/p>\n\n

Today, it is precisely this blind spot that fascinates me. Because that’s where the most expensive mistakes are made – and the most exciting aha moments. <\/p>\n\n

Your career path has taken you from caring for the dying to science and top-level consulting. What experiences have shaped your current understanding of leadership the most? <\/h6>\n\n

End-of-life care<\/em> was my most radical school. There it very quickly becomes clear what works in life – and what doesn’t. At the end, no one talks about key figures or great successes. Many people talk about what really moved them – and that they regret not having dared to be clearer. This clarity is also often lacking in management. And that’s exactly where I come in today. <\/p>\n\n

Science<\/em> has taught me to look closely: To recognize connections, to understand levers and not to follow the obvious too quickly.<\/p>\n\n

And my work with managers<\/em> and my own leadership role have confirmed one thing to me time and again: It’s all about people – even at the highest level. And sustainable impact is never achieved through strategies or tools alone, but through attitude and a clear code of values. <\/p>\n\n

These three perspectives still shape my understanding of leadership today.<\/p>\n\n

Today you work with board members and top executives. What makes the challenges at this level fundamentally different from classic management development? <\/h6>\n\n

The higher the level, the more subtle the problems. It’s less about ability – and more about self-perception. At the top level, the biggest risk is not incompetence, but overestimating oneself in combination with loneliness. It gets quiet and lonely at the top. Honest feedback becomes rare. And that is precisely what makes it dangerous. Top executives therefore rarely need more tools, but rather mirrors and targeted reflection (as well as a resilient relationship with the base). <\/p>\n\n

Werth quote: “Tools provide security. Attitude gives direction. Many companies have too much of one – and too little of the other.”<\/em><\/p>\n\n

You say that managers need less tools and more reflection. What does that mean in concrete terms in the everyday life of a CEO or board member? <\/h6>\n\n

Many managers are excellently trained – and surprisingly unfamiliar with themselves. A board member\/GM is usually highly experienced, experienced and confident in their appearance – and they have to be. But it is precisely this role that characterizes them: making decisions under uncertainty, setting the direction, standing at the front. This trains you one-sidedly and changes you – insidiously. <\/p>\n\n

Reflection therefore does not mean thinking longer, but looking more honestly. Am I making this decision out of conviction – or out of convenience? Because it is right – or because it feels good? It sounds simple, but it is highly effective. If you can’t observe yourself accurately, you quickly become a pawn of your own patterns – especially in positions of power. <\/p>\n\n

Reflection is therefore not an optional extra, but risk management. And it rarely works alone. It requires a sparring partner at eye level – with power sensitivity. Because a coach who does not understand power in its context cannot effectively support leadership at this level. <\/p>\n\n

Werth quote: “The biggest risk in leadership is not making the wrong decisions – it’s thinking you’re infallible.”<\/em><\/p>\n\n

You<\/a> confront managers with the question: “What does power do to you?”. What typical changes do you observe in people in positions of power? <\/h6>\n\n

Power changes perception. People in positions of power experience less contradiction, feel more secure and at the same time become more susceptible to making wrong decisions. The paradox: we get into positions of power because of certain characteristics – and it is precisely these that change there. The dangerous thing is that those affected don’t realize it and don’t know how to counteract it effectively. <\/p>\n\n

Werth quote: “Power corrupts – unless we counter it with something effective.”<\/em><\/p>\n\n

Topics such as courage, responsibility and trust <\/a>seem almost “old-fashioned”. Are you experiencing a renaissance of these virtues in modern corporate management? <\/h6>\n\n

These concepts were never gone – we just thought we could replace them with methods. Now it’s clear that in complex situations, no tool will ultimately help. Then personality is the deciding factor. And suddenly ‘old-fashioned’ virtues seem ultra-modern again. <\/p>\n\n

How can organizations ensure that managers do not lose touch with their own values despite pressure, speed and responsibility?<\/h6>\n\n

Not at all – if they don’t actively shape it. Values are revealed under pressure. And this is precisely where they are often lost: not out of malicious intent, but due to speed, targets and social pressure. Three levers are decisive: <\/p>\n\n

Firstly, binding reflection formats.<\/strong>Not optional, but institutionalized – for example, regular sparring sessions or decision reviews.<\/p>\n\n

Secondly: Systematized<\/strong> contradiction.<\/strong>For example, through clearly defined roles in decision-making bodies whose task it is to bring in critical perspectives. Without a legitimized opposing view, the hierarchy always wins. <\/p>\n\n

Thirdly, the measurability of behavior.<\/strong>Is a manager also measured by how<\/em> they have achieved results – or only by the fact that<\/em> they have achieved them?<\/p>\n\n

If these structures are missing, the shortest-term solution almost always wins.<\/p>\n\n

Werth quote: “Values are not reflected in the mission statement – but in decisions made under pressure.”<\/em><\/p>\n\n

You deal intensively with the topic of ageing, both personally and professionally. Why do you think this topic is still underestimated in companies? <\/h6>\n\n

Because we misunderstand age.<\/p>\n\n

On the one hand, we confuse it with degradation<\/em>. Yes, some abilities decrease (e.g. speed). At the same time, however, others are increasing: not only experience, but also judgment, tolerance of ambiguity and emotional regulation. These are all qualities that companies urgently need in their employees. <\/p>\n\n

Secondly, we think in terms of costs<\/em> (older employees cost more than younger ones) and not in terms of skills. As a result, we underestimate what this loss of expertise really means for the company. <\/p>\n\n

Werth quote: “We underestimate what this loss of expertise really means for the company.”<\/p>\n\n

From a psychological point of view, what changes do decision-makers and leaders in particular undergo as they get older?<\/h6>\n\n

With age, it is not so much the ability as the quality of decision-making that changes: less impulsive, more integrative. Less quick, more coherent and sustainable in the long term. More values often come into play. The problem: organizations reward speed – not quality. <\/p>\n\n

You talk about “courage in getting older”. What exactly does that mean and why is this courage so crucial? <\/h6>\n\n

You don’t need courage to grow older (because we grow older automatically) – but you do need courage to grow older skillfully<\/em>. The real challenge is to develop your own identity. It takes courage to let go of roles that are no longer equally valid. And it takes courage not to withdraw inwardly, but to continue to experience yourself as effective – even under changed conditions. This is precisely the crucial point: many people do not lose their competence as they grow older, but they do lose their confidence in their own relevance. <\/p>\n\n

Courage when getting older therefore means not making yourself quieter, but repositioning yourself. Those who do so gain serenity, clarity and dignity. <\/p>\n\n

Many companies, including in the insurance industry, are currently shedding employees aged 55+. Do you think this is a short-sighted strategy? <\/h6>\n\n

This makes economic sense in the short term, but is often strategically risky. If companies systematically reduce the number of employees aged 55+, they save costs in the short term – but at the same time lose a central component of organizational judgement. Experience is not a static body of knowledge, but a decision-making filter\/aspect of quality under uncertainty. And it is precisely this quality aspect that quietly disappears until it is suddenly missing in critical situations. This is why demographics is not just an HR issue, but a component of risk management. <\/p>\n\n

Werth quote: “Demographics is not an HR issue – it is an underestimated component of risk management. If you lose experience, you don’t lose the past, you lose decision-making quality in the future.”<\/em><\/p>\n\n

What risks arise for companies when they deliberately rely on younger, cheaper workers and lose experience?<\/h6>\n\n

When organizations consistently rely on younger, less expensive employees, they gain speed – but often lose directional security. Younger employees are generally excellently trained, digitally competent and efficient. What they naturally lack is not competence, but condensed experience in dealing with complex, contradictory or crisis-ridden decision-making situations. This experience cannot be accelerated and cannot be replaced digitally. If it is lacking, the probability of wrong decisions increases – especially where exceptions rather than routine are involved. <\/p>\n\n

The decisive factor is therefore not either\/or, but a clever combination of both perspectives.<\/p>\n\n

Werth quote: “We afford ourselves the luxury of sorting out experience –and wonder about the shortage of skilled workers.”<\/p>\n\n

Which models do you see as particularly useful for keeping older employees in the company and utilizing their knowledge?<\/h6>\n\n

In my opinion, the question is posed incorrectly: Not “How do we retain older people?”, but “Where does experience<\/em> unfold its greatest leverage?” The answer is clear: in mentoring, in complex decisions and in critical situations. This is where its real value is revealed. Experience is not a residual item – it is a competitive advantage.<\/p>\n\n

Another point that is often underestimated is personnel development<\/em>. Many offers are implicitly geared towards younger employees. However, older employees have different topics and needs – both in terms of content and the way they learn. Learning is not worse, but it works differently. If you don’t take this into account, you lose attractiveness. <\/p>\n\n

I find models that go beyond traditional employment exciting. One example is Sentaris GmbH<\/a>: a platform that brings together experienced retired specialists with companies – specifically for project-related or short-term assignments. (Whitepaper here<\/a>) <\/p>\n\n

However, the real added value lies in the combination<\/em>: transitions are not only organized, but actively shaped – both on a personal level, for example through coaching, and on an organizational level through targeted knowledge retention. It is precisely such approaches that show how experience can be used strategically instead of simply being phased out. <\/p>\n\n

Werth quote: “Companies don’t lose experience because people leave – but because they don’t have a framework for using it sensibly.”<\/em><\/p>\n\n

You work with insurance companies and banks. To what extent do these sectors underestimate the needs of an ageing society, both as employers and as providers of products? <\/h6>\n\n

The central underestimation does not lie in people’s age, but in the idea that life courses are still stable and can be clearly planned. People are not just getting older, they are living much differently today. And it is precisely this ‘different’ that has not yet been incorporated into many products and HR strategies. Banks and insurance companies often still think in terms of traditional life phases: Education, working life, retirement. <\/p>\n\n

However, the reality is different: Life courses are less linear, transitions are more frequent and more individual. At the same time, the demands of old age are increasing – financially, in terms of health and biographically. Many insurers have therefore set out to reflect this variability of life in their products – but they have certainly not yet reached the end of the road. <\/p>\n\n

If you had to make one key recommendation to boards of directors in the insurance industry today, what should they immediately think or do differently when dealing with demographics, leadership and risk?<\/h6>\n\n

The real risk lies not in the ageing society, but in an outdated logic of risk assessment. As long as risks are primarily defined by age segments, a systematic blind spot remains – and this is particularly expensive in a risk industry. <\/p>\n\n

The consequence is therefore clear: away from static segments and towards progression-oriented risk policies. It is not age itself that is decisive, but the dynamics of life courses – in other words, the question of how risks change over time, transitions and breaks. Understanding this shifts the focus from product logic to the reality of life – and this is precisely where the competitive advantage will arise in the future. <\/p>\n\n

What<\/a> psychological ability will decide in the coming years whether management in banks and insurance companies will be more stabilized or risky?<\/h6>\n\n

In my opinion, the decisive psychological skill<\/em> of the next few years will be the ability to anchor oneself under uncertainty<\/em>. We are operating in a working and economic reality in which stability is decreasing, complexity is increasing and quick answers are becoming less and less viable. In such contexts, it is no longer primarily knowledge that separates us from ignorance, but rather inner stability from inner reactivity. <\/p>\n\n

Managers will therefore be measured less by how much they know or how quickly they make decisions – and more by whether they can still regulate themselves well in complex situations. In concrete terms, this means recognizing their own patterns, not reacting automatically, enduring contradiction and still remaining capable of acting. After all, it is not the loudest or quickest who will lead effectively, but those who can remain calm under pressure. And this is not a question of technology or a toolset, but of psychological maturity. <\/a><\/p>\n\n

The questions were asked by Binci Heeb.<\/em><\/p>\n\n

Prof. Dr. Lioba Wert:<\/strong> Education: Degree in psychology (Dipl. Psych.) at the University of Trier, doctorate (Dr. rer. nat.) also at the University of Trier and habilitation at the University of W\u00fcrzburg. <\/p>\n\n

Professional experience: Active as a keynote speaker, coach and author. Professor of Business, Organizational and Social Psychology (W3) at the Catholic University of Eichst\u00e4tt-Ingolstadt and Chair at the TU Chemnitz and the University of Hohenheim from 2004 to 2015. Also founder of the Zentrum f\u00fcr Training & Weiterbildung (ZTW e.K.) in 1999. <\/p>\n\n

Industries: Science and medicine, banks and insurance companies, corporations and SMEs as well as chambers and associations.<\/p>\n\n

Consulting focus: leadership, succession and the management of upheaval, self-regulation and the topic of ageing – both individually and in a corporate context.<\/p>\n\n

Read also: Older, more expensive, indispensable?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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