Diversity in the re/insurance industry won’t just happen. To overcome the challenges of unconscious bias, businesses may need to start holding people accountable for accelerating the rate of progress.
Insanity is doing the same thing and expecting different results, as Einstein never said. When it comes to boosting diversity, the definition might be looking in the same places and hoping to find different people.
Unconscious bias has long been an issue in hiring in the re/insurance industry, as Caroline Bedford, chief executive officer and founder of EDII, noted during a panel discussion on diversity and inclusion (D&I) for Intelligent Insurer. The tendency for those within businesses to hire those like themselves is well recognised. Less clear, though, is how to stop doing it.
To discuss this and other issues around D&I, Bedford was joined by a panel from across the industry: Kael Coleman, chief executive officer and founder of US-based tech-enabled re/insurance broker Protecdiv; Maurice Rose, senior manager for the ERM pillar at MS Amlin in London and chair of Link, the cross-insurance industry LGBTQ+ network; Ian Simons, based in the UK as customer director of the Chartered Insurance Institute; Patrick Tannock, chairman of the Association of Bermuda International Companies and chief executive officer of AXA XL’s Bermuda Insurance Operations, and Audry Torrence, executive vice president of North America with executive search business Stephens Rickard.
Diversity, unconscious, bias, re/insurance, overcome, accountable, action