Chartered Insurance Institute holds up the mirror on diverse talent
A Chartered Insurance Institute survey has revealed the profession’s progress with attracting and retaining diverse talent.
The professional body surveyed 46 HR practitioners from across the insurance profession during July and August and found eight out of 10 (79 per cent) monitor gender in terms of talent attraction, and one in five (19 per cent) set targets based on gender.
Firms who set targets for gender diversity in their attraction strategies stated they were meeting these goals.
Almost six out of 10 (57 per cent) businesses polled monitored ethnicity but just 7 per cent of those firms set specific targets for attracting talent based on ethnicity, race or nationality.
Only a quarter (25 per cent) of insurance businesses who set targets for ethnically diverse talent are meeting those targets.
Just 2 per cent of the insurance businesses polled set targets for attracting disabled talent and only 5 per cent had targets to improve age diversity.
Sexual orientation and social mobility were the least actively monitored groups.
Only 12 per cent of firms monitor social mobility and 24 per cent monitor sexual orientation, according to the survey – which was unveiled at the Dive In session on ‘Attracting and retaining diverse talent’ today (23 September).
Sian Fisher, CEO of the Chartered Insurance Institute, said: “We all know we are not yet where we need to be as a profession in terms of our diversity. We are not yet representative of the population we serve, and that means we are missing out on vital sources of talent as well as making it hard for us to see through the eyes of our customers.
“But I see huge efforts by many across the sector to change this, with festivals such as Dive In, representative networks and outreach campaigns to change perceptions, learn from each other and drive action.
“We are committed to holding up the mirror to our profession and working with all those who share our determination to expedite change – to measure progress, identify barriers, and share good practice. Each organisation will have its own challenges and approaches to overcoming them, but I hope over time to help us step forward as a profession, learning from and challenging each other to open up more rewarding opportunities for more people to serve our customers.”
Authored by the CII
The Chartered Insurance Institute (CII), the leading professional body for the global financial services profession, exists to promote higher standards of integrity, technical competence and business capability. With over 115,000 members in more than 150 countries, the CII is the world's largest professional body dedicated to insurance and financial services.
Our membership covers all disciplines within the insurance industry (claims, broking, underwriting), those working in the life and pensions sector, the mortgage advice market and financial advisers (under the Personal Finance Society brand).
Our Royal Charter requires us "to secure and justify the confidence of the public" in our members and in the insurance and financial services sector.
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