PropertyCasualty360 2021 DEI, Environmental Stewardship Honorees
Meet the DEI and Environmental Stewardship honorees in the PropertyCasualty360 Insurance Innovators program. (Part 4 of 4)
Social justice activity reached a fever pitch in 2020 and reminded many in insurance of the pressing business case to advance diversity, equity and inclusion (DEI) initiatives, and not simply because fostering diversity is the right thing to. Business innovation and success simply does not happen with monolithic workers and leadership.
What follows are the Diversity, Equity and Inclusion honorees in the inaugural PropertyCasualty360 Insurance Innovators recognition program.
Vendor
Applied Systems
In 2020, Applied Systems hired a senior manager of diversity, inclusion and belonging (DIB). The DIB program has three main components: Workforce focuses on recruitment and retention strategies to increase the diversity of employees; Workplace focuses on topics like unconscious bias, inclusive behavior and building a culture of trust and belonging; Marketplace focuses on building the brand in the communities where our people live and work. A DIB council consists of 25 members who represent each of their businesses and eight who represent communities of interest: Blacks, Women in Tech, LGBTQIA, and Veterans. https://www1.appliedsystems.com/en-us/
Team
The Hartford’s Black Insurance Professionals Network (BIPN)
BIPN at Hartford Insurance works to create a diverse, equitable and inclusive workplace. It fosters open and honest conversations that allow employees to feel safe and valued. For their constituency, this includes creating a culture that lets them show up as their authentic selves. Beyond their constituency, they sponsor programming that lays the groundwork for effective communication and empathy. This includes the creation of the BIPN Ally program, which helps non-Black employees understand the experiences of Black colleagues. In 2021, BIPN also served as a partner in The Hartford’s recognition of Juneteenth as a corporate holiday. https://www.thehartford.com/
Program
The Inclusion Learning Lab
Margaret Spence launched The Inclusion Learning Lab to help insurance organizations and diversity leaders redefine inclusion for all stakeholders. Studies indicate that three out of five organizations with DEI goals make little or no progress on their own. In fact, many have seen gender and ethnic minority retention goals go backward. The Inclusion Learning Lab focuses on creating inclusive work environments where minority insurance professionals can thrive and grow. This is a multifaceted mission to dismantle exclusive silos, educate managers to spot potential, address disenfranchisement in the industry, and elevate minority professionals into executive leadership. https://inclusionlearninglab.com/
Product
Sigo Seguros
Sigo Seguros introduced a product specifically focused on the Hispanic customer that removes biased rate factors such as credit score, employment history and level of education from the underwriting process. The product was launched in response to personal experience and stories of people who were penalized for low credit scores or had to pay hundreds of dollars extra in brokerage fees despite having perfect driving records and consistent employment. Sigo Seguros also removed charges like reinstatement fees, payment fees and endorsement fees. The staff literally speaks their customers’ language, offering a natively bilingual, mobile-first quote and registration process. https://sigoseguros.com/
Brokerage
USI Insurance Services
USI Insurance Services formally launched its DEI program “I’m With U” in June 2020, undeterred by the pandemic, racial tensions or a fractious presidential election. Once the program was announced, more than 500 employees volunteered to help with DEI goals. The program’s educational achievements include training on unconscious bias and how to actively combat biases within teams. Mentorship has identified promising Early Talent Associates can connect with senior leaders and experts while receiving guidance on personal and professional goals. The DEI council also is working to increase hiring diversity. https://www.usi.com/
Environmental Stewardship
The heat is on, so to speak, for the insurance industry to take the lead in addressing the growing frequency and severity of weather risks spurred by global warming. This challenge is about more than making policyholders whole after an insured event. It’s also about looking past political divides to find sustainable solutions to the growing climate crisis.
What follows are the Environmental Stewardship honorees in the inaugural PropertyCasualty360 Insurance Innovators recognition program.
Program
Aon Inpoint
Aon Inpoint is actively engaged in helping (re-)insurers understand the physical, transitional and liability risks and opportunities related to climate change transition. This embraces a wide range of issues from properly grappling with environmental, social and governance (ESG) metrics, carbon offset markets, hydrogen market growth, and the “hard to abate” heavy industries. Long-term insurance profitability depends on being able to understand evolving risk. Aon Inpoint has used robust sources of climate change insight to assess how different industries will evolve so the industry can understand how risks will evolve with them. https://www.aon.com/home/index.html
Brokerage
USI Insurance Services
USI established its USI Green program in February 2019 to advance its commitment to supporting an environmentally conscious approach in the workplace and our local communities. The program focuses on Reduce-Reuse-Recycle-Restore, Energy Conservation, Sustainable Purchasing, and Electronics Stewardship. USI donated on behalf of each of its employees to One Tree Planted. In addition, when honored by peers in the peer-to-peer program Celebrate Success, employees can opt to have a donation made in their name rather than receive a recognition magnet. This increased nominations by 65%, and 96% of nominees in 2021 opted to plant a tree. https://www.usi.com/
Freelance writer Matthew Candelaria contributed to this report.
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