At Broker Buddha, we launched a podcast called “The Enlightened Agent” to spotlight some of the great work of insurance agents. Our CEO, Jason Keck, recently started a series of episodes devoted to diversity, equity & inclusion (DE&I) in the insurance industry. This series is a way of elevating the conversation about DE&I.
DE&I isn’t just one thing. It’s three distinct concepts that combine to create incredible workplace culture. Diversity covers a wide range of characteristics such as gender, race, ethnicity, neurodiversity, disability, and age. Equity refers to all individuals having the same access to opportunities and fair representation. Inclusion is that sense of belonging that every employee should have at an organization. After more than 25 interviews, Jason has noticed some common DE&I themes and initiatives that companies and leaders are implementing.
Overall, companies in the insurance industry are incorporating DE&I initiatives into corporate value structures. Why is this? It’s because a common idea percolating among leaders is, ‘How can we appropriately represent our clients if our company doesn’t have employees that have backgrounds like our clients?’
DE&I initiatives often take the shape of programs called Employee Resource Groups (ERGs), which are employee-led, and various community outreach programs. Outreach programs include college campus recruiting and partnering with underrepresented business owners. Insurance Agencies are not only making sure that their workforces are diverse, but that the vendors they work with are too.
How can you implement DE&I initiatives at your organization? Here are some thoughts on how to get started:
- Review the data: Measure and track diversity, vendor, and compensation data. Also, survey employees to get feedback about inclusivity. Use the data to make improvements in hiring, retention, and the diversity of your vendors.
- Strength in numbers: Gather your colleagues who are passionate about DE&I and address your ideas with the senior management team.
- Executive support: Find an executive sponsor to help make your plans actionable.
In an industry where companies find it challenging to recruit and retain employees, DE&I initiatives help. Companies are making these initiatives part of their long-term strategic plans, with goals to work with and hire diverse talent that will become the future of the insurance industry.
Subscribe to “The Enlightened Agent” podcast on Apple Podcasts or Spotify.
To learn more about Broker Buddha check out these NetVU webinars:
REGISTER TODAY!
Treat Yourself To a New Way Of Creating Commercial Renewals
Watch On Demand
Digital Applications and Renewals with Broker Buddha
How Technology Can Help You Get MORE Personal