“We’re not interested in DE&I as a box-ticking exercise but as something meaningful, useful and intrinsic to our organisation”
Clare Talbot-Jones, Talbot Jones
Diversity, equity and inclusion (DEI) is critically important for the next generation of insurance professionals, and companies that develop the best policies in this area are likely to attract the finest new candidates. Considering what’s at stake, the IBUK team conducted due diligence to determine the 5-Star DEI award winners for 2022. First, we interviewed DEI professionals to gather information on industry standards. Then, upon receiving nominations, we went to the source – the employees of the nominated companies – to gauge the effectiveness of these DEI programmes. Five companies won, exhibiting the type of DEI initiatives bound to draw the brightest, most talented, and passionate employees to the industry.
The next generation of insurance professionals must prioritise diversity, equality, and inclusion (DEI), and organisations that create the strongest policies in this area are likely to draw the best new hires. The IBUK team performed due investigation to choose the 2022 recipients of the 5-Star DEI awards after taking into account the stakes. We first conducted interviews with DEI experts to learn more about industry norms. In order to determine the efficacy of these DEI programmes, we then went straight to the source—the employees of the nominated companies—after receiving nominations. Five businesses were successful, demonstrating the kind of DEI programmes that are sure to entice the industry’s smartest, most skilled, most enthusiastic workers.
While we’re proud to acknowledge this year’s exemplars of DE&I excellence, there is still work to be done.
“Although we’re moving in the right direction, we really need to speed up,” says Clare in an interview with IBUK. As an example, she references the Aviva annual general meeting (AGM) in May, where shareholders criticised Aviva CEO Amanda Blanc, saying she wasn’t the “right man for the job”.
“The disgusting, misogynistic comments at the recent Aviva AGM, as well as two acts of abuse towards fellow women in insurance that I’ve witnessed in the last week, show that while policy is changing, practice and perspectives still need to change,” said Clare. “This applies to all kinds of diversity, not just gender. I’ve been delighted to see some recent progress in how language is used within insurance to be more inclusive. Words matter because they help shape our thoughts. We need to be open to change and proactive in making it happen.”
Of the positives, there are some encouraging statistics in the insurance sector, at least for women. The percentage of female board members is 29%. Black, Asian, and other minority ethnic professionals occupy 10% of entry-level positions, although they only make up 2% of the executive and board posts. She also claims that the COVID-19 epidemic has impeded the professional advancement of women and people of colour (POCs).
The IBUK team asked the representatives from Talbot Jones, HDI Global SE, and FloodFlash which three elements of their DEI policies were working and which three were not so effective.
Our company’s first strength is recognising the value that DEI brings to the workplace. The second strength is a genuine interest in learning, being challenged and being open to harnessing different perspectives. “We’re not interested in DEI as a box-ticking exercise but as something meaningful, useful and intrinsic to our organisation,” she says. Lastly, we said we’re also dedicated to sharing our experiences outside of the company.
What about the challenges? “As a young, small organisation, we benefit from being flexible and agile and can seize opportunities that present to train the team. As we grow, however, we’re looking at ways of continuing to benefit from that culture while also creating a more formalised DEI programme.
“We are also keen to have more representative ethnic diversity within Talbot Jones. We’d love to have more suggestions about how we can attract talent and market our upcoming technical role to a wider demographic.
“I’ve also been challenged by a peer to look at how we can build on the work we’ve done to more proactively engage with and support our clients, and how we can influence insurers around their DEI practices.”
- more companies need to prioritise DE&I
- company DE&I policies need to be improved
- company DE&I programmes need to be better applied and integrated to transform culture.
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Talbot Jones Ltd is a family-run Chartered Insurance Broker specialising in Third Sector and Professional risks. Get in touch for free insurance advice, review or quotation.
Talbot Jones Ltd incorporates March Insurance Services, a Chartered Insurance Broker specialising in Agricultural and Hospitality Risks.
