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Instant Insights / Diversity, Inclusion and Equity in the Insurance Industry

The insurance industry has made notable progress in attracting, retaining and developing diverse talent, but opportunities remain for insurance companies to make diversity and inclusion and central aspect of their culture. In this package, we highlight best practices, research and more to help inform firms' decisions on their path toward promoting and advancing diversity within the insudustry.

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Leaders must understand that DEI is not a fad diet, it is a lifestyle change. You must determine your DEI vision and how it aligns with your business strategy. DEI is also broader than just an HR topic. Consider how DEI is embedded across systems and practices in other parts of your business such as procurement, marketing and IT. (Credit: alfa27/Adobe Stock) Leaders must understand that DEI is not a fad diet; it is a lifestyle change. You must determine your DEI vision and how it aligns with your business strategy. DEI is also broader than just an HR topic. Consider how DEI is embedded across systems and practices in other parts of your business such as procurement, marketing and IT. (Credit: alfa27/Adobe Stock)

While many organizations began their diversity, equity and inclusion (DEI) journey long before the Summer of 2020, the social justice movements that took place after George Floyd’s murder have forced many leaders and companies to initiate a DEI journey for the first time or to accelerate or redefine their plans to better understand and address their employees’ needs and begin the hard work of creating equitable and inclusive work cultures.

As a management consultant that has partnered with hundreds of clients across dozens of industries and sectors, I’ve seen many reasons that diversity programs fail. However, three reasons have particularly stood out over the past year, and each of them is preventable.

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