Executive Insights: ISO's Debbie Morris on moving D&I forward

If you’re an aspiring globetrotter like me, hearing about Debbie Morris’ insurance career may make you a little envious. But more than anything, it will leave you inspired.

When a former employer offered Morris the opportunity to work in London early on in her career, she quickly packed her bags and embarked on an experience overseas that eventually took her to Southeast Asia. In total, Morris spent ten years abroad learning the ins and outs of international markets.

When looking back at her time in Asia, Morris fondly reflects on her time training colleagues over the course of three years. “Training is hard work. But for me, it was one of the most fulfilling parts of my 30-year career,” she said during a recent interview with PropertyCasualty360.com. Now, many of those colleagues she trained lead companies or are heads of business units. “It’s very rewarding for me to see the impact I was able to have on them,” she added.

Her childhood aspiration to be a teacher has instilled an innate purpose to coach and mentor others. As senior vice president of commercial lines at ISO, a subsidiary of Verisk Analytics, Morris has the opportunity to work with the next generation of insurance leaders, fostering their growth and knowledge. Morris also mentors through the nonprofit The Bridge Transcends, which supports the development of female talent in financial lines insurance and reinsurance.

“Your time, which is precious, really pays off when mentoring,” she said. “I have to believe that mentoring is how the industry grows and how we create the leaders of tomorrow.”

PC360: What are the most exciting developments that you see happening in the P&C insurance industry today?

Morris: I think there are a couple of things that are exciting in the industry. There is a real push for diversity and inclusion (D&I), which many in the industry have talked about for decades and made little progress. Things around us in our own country have propelled many in leadership positions in the industry to say we need to act on diversity now. I feel like we’re going to really make an impactful change in the industry over the next decade — we’ve reached an inflection point, and I’m encouraged by that.

Another exciting development is the greater digitization of the industry. Virtually all insurance companies appear to be looking to do as much as they can online. Personal lines insurers began their digital journeys well over a decade ago, but commercial lines insurers have generally been slower-moving regarding technology, analytics and data. That’s changing at a rapid pace now as insurance stakeholders realize that they need to engage with customers digitally, providing them with a great user experience and the right products and services quickly. Over the next decade, I think it’s going to be night and day from what we see today.

PC360: As you mentioned, D&I has been a topic of conversation for the insurance industry for years, but some believe there’s been little progress. Has the industry made missteps regarding D&I over the years?

Morris:  I wouldn’t use the term missteps, but I will say that I don’t think we’ve made enough progress. However, current events that touch on diversity and inclusion issues are widespread, and I feel there is a real focus now on impactful diversity and inclusion practices. Real discussions about D&I are taking place at many board and executive leadership levels with commitments to do better. There are training programs, more thorough and thoughtful hiring practices around diverse talent, industry conferences to continue to generate awareness and to provide guidance.

Tackling diversity and inclusion can be challenging as it’s not just about bringing in a head of D&I; it’s investing in it and implementing the right training programs, employee retention programs, and HR hiring programs, all while providing employees with training all around. But recent changes I’ve seen in the industry have been encouraging.

PC360: How is Verisk pushing D&I forward?

Morris: We are bringing together different levels of hiring leaders to collaborate on how we think we can make a difference in the careers of diverse people. We have an initiative within middle management ranks because we feel that the best way to get everyone in the company working toward the same D&I goal is to have decisions made not only by the top executives but by the people who are on the ground hiring people, and by the people who are leading teams. We’ve had great ideas come out of our director, AVP, and VP levels on retaining and hiring diverse talent.

We also have an Inclusion, Diversity and Belonging Leadership Council, which works with Verisk’s board of directors to help drive change across our company and assess strategies and progress. Council members reflect the diversity we aspire to embrace as a company. I am a member of the council, and Dianne Greene, our new global head of inclusion, diversity & belonging, leads the council. The perspective that she has brought to the council from her leadership positions prior to Verisk has been outstanding!

PC360: What are some of the guiding principles you live by daily that help you be an effective leader?

Morris: Be authentic — I think that is overused, but the reality is you have to be yourself. Who I am at work is pretty much who I am outside of work. I’m transparent and forthright yet approachable. People want to be heard, and I’m a good listener.

I’ve been fortunate to work in this industry for a long time — to work in different cultures, under different leadership styles, to work in large and small teams, co-located and virtual teams. My personal leadership style has been built through taking bits and pieces from all these experiences and molding them into my own. I am only as good as the team around me. Mutual respect, collaboration, clear communication, and working toward a compelling, shared vision make a great team. And a great team achieves goals.

PC360: What is one of your hopes for the insurance industry moving forward?

Morris: With today’s technology, data and advanced analytics and artificial intelligence, we have the tools to help simplify all parts of the insurance lifecycle, cut costs, provide a much better user experience, and ultimately help increase profitability and long-term sustained success of the overall industry. But I must leave you with another hope — invest in diversity and inclusion practices, which will be the other key to long term sustained profitability of the industry.

This interview has been edited for length and clarity. 

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