Where did DEI's insurance programs go well?

Diversity, equity, and inclusion (DEI) has taken center stage across a variety of industries, and the insurance sector is no exception.

Industry leaders are embracing the need to create an inclusive and diverse workforce, recognizing that this change is not only the right thing to do but also critical to business success.

However, despite visible progress, challenges remain in embedding DEI within the insurance industry.

At the 2024 NAAIA (National African American Insurance Association) Conference, insurance professionals spoke to Insurance Business about actions taken and not taken. At the same time, many want more support to build diverse representation at the highest levels of organizations.

Progress and challenges in insurance DEI

Kenwon Simpson (pictured left), account manager at Rathbun Insurance, said the industry is making significant progress on DEI by breaking down barriers to other races. “I think just focusing on young people can help,” he said. “But I think we're doing well right now.”

Rod Patterson (pictured right), property claims director and vice president at Seneca Insurance, agreed. “It's becoming more and more common to see organizations supporting inclusion, equity, and diversity in various areas of their business,” Patterson said.

This expansion of opportunities extends beyond internal recruiting processes to include relationships with various vendors and service providers, he added, reflecting the industry's commitment to “widening the tent.”

Despite this progress, there is still a disconnect between intent and action in many enterprise DEI programs. Lexi Zelensky, a health solutions analyst at Aon, highlighted this gap: “There's a lot of talk and a lot of budgeting about DEI, but there's difficulty getting the mandate and pushing the needle forward.”

Zelensky praised efforts like those from the NAAIA for fostering a sense of unity and family among professionals from different backgrounds but stressed that insurance organizations must take stronger action.

“How do we go beyond talking and start making real changes?” he asked. “We need to take strong steps to incorporate programs like NAAIA across the industry, encouraging cooperation and mutual encouragement, rather than seeing each other as competition.”

What is the road ahead for DEI insurance?

For Lee Swann (pictured below left), commercial claims manager at Liberty Mutual Insurance, more representation at the highest levels of organizations will be key to delivering on DEI's promise.

“I like what I see in the interns' space,” said Swann. “We're showing up at universities, bringing our A-game, and attracting amazing talent. But where we really need to improve—and it's obvious from looking at any organizational chart—is in getting more people of color into senior leadership.

“We lack different voices at the top. Those gaps can be filled by more Hispanic, African American, and Asian leaders, who can bring new ideas and challenge the status quo.”

Mecca Woodard, editorial assistant at Everest Global, noted the industry's potential for millennials and people of color. While he expressed pride in diversity programs and career advancement opportunities, he criticized one trend he has observed.

“I think the industry is doing well to support conferences like this, and to call on NAAIA and other organizations to step up,” Woodward said. “Where it went wrong was investing a little money.

“I have noticed that when the recession gets worse and the budget gets tighter, different types of funding are often cut off. It should be the opposite—companies should double down on investing in diverse talent because those are the people who will get you through the tough times.”

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