Search
 
Research

P&C groups' CSR, charity work is being shaped by millennial preferences

McKinsey's 2019 report found that charitable giving in the industry has held steady around $560-$600 million annually.

3. Diversity The survey asked respondents how strongly they agreed or disagreed with six statements on diversity. Among risk professionals, men responded slightly more negatively to statements on diversity. For example, when posed with Statement 1 ("We need people from a variety of cultural backgrounds in the risk management field.") 82% of men and 92% of women agreed. When examining age groups, Generation Xers compromised the majority of the respondents, with 89% agreement to each of the diversity statements. Millennials strongly agreed as well, with 93% recognizing a need for a variety of cultural backgrounds and 95% believing that a diversity of perspectives will be vital in 2025. Since these groups will play an increasingly more significant role in the field going forward, Brosius said companies should note what the younger age groups as they experience a changing of the guard with continued retirements of baby boomers. (Credit: Supavadee butradee/Shutterstock) From 2015 to 2019, McKinsey’s survey data found that the industry’s desire to work toward a single cause increased from 17% to 33%. (Photo: Supavadee butradee/Shutterstock)

In partnership with the Insurance Industry Charitable Foundation (IICF), McKinsey and Company recently released its ”Charitable Giving in the Insurance Industry” report update for 2019, identifying a number of growing philanthropic trends in the industry.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Danielle Ling

Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].

More from this author

 

Recommended Stories

Employee-surveillance trend deeply splits employers

Employee-surveillance trend deeply splits employers

Maria Dinzeo |

A new Littler Mendelson survey found two-thirds of in-house attorneys and corporate leaders were concerned about the technologies' impact on employee morale and compliance with privacy laws.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.