Fairness: a minimum standard

What a year it’s been! 2019 seems to have gathered pace with new initiatives, market reviews, the fifth year of Dive In, and the Women in Insurance Awards, of which I’m very humbled to be a finalist in one of the categories.

The insurance sector is beginning to build momentum in recognising the achievements of women who have for so long been contributing such good things to our profession, but may not have been able to step into the light to be recognised for their hard work, dedication and professionalism.

There is an increasingly broad landscape of change: change in attitudes, change in recognition of the need to improve gender diversity, and importantly more women founding, starting and leading businesses in our sector.

There is still a very low ratio of woman around the boardroom tables of our sector after the Davies report recommendations for this diversity some years ago, so there is still a long way to go.

You need only to look at the number of entries to the Women in Insurance Awards and see some of the inspirational entrants who have made such a valuable contribution to our sector to know we are making some worthwhile progress.

It’s not accurate to say that we are almost there, because clearly some feedback on the Lloyd’s Market survey highlighted some worrying cultural issues which certainly need to be addressed. With Inga Beale having highlighted the need to create a more diverse and equal market landscape and having innovated so many changes for the better we are certainly heartened by the potential which is now unfolding to make those meaningful changes.

Lloyd’s CEO John Neal has committed to continuing this more vigorous approach to ensuring fairness, respect and the cultural changes which recently shocked so many. Those who thought that “our work is done” and that equality and inclusion was already established will have to think again.

It seems to me that in order to achieve the end result that many have strived for so tirelessly we have to bring everyone together in a spirit of genuine commitment to make fairness for all our minimum standard of business operation.

New approach
More than that, to attract the best talent and retain it, our approach to business needs to change, and maybe it already is from the encouraging signs we see. Back in the early 1990s, as a single mother, the experiences I had were so awful that to this day it haunts me to think that if it wasn’t hard enough to raise children and work full-time, extra expectations and a punitive lack of support, respect or understanding made it almost untenable to have any optimism of a better outcome.

I won’t go into details but I must say the brutal unfairness I experienced first-hand was a shameful example of how wrong companies could be.

This leads me on to the link with personal wellbeing, and the impact of mental health links to stress in the workplace and its effect on overall business performance. One of the most likely causes or at least triggers of stress, is feeling bullied or being bullied. Even worse is the subtle cruelty of some senior management who clearly have issues of their own, and seem to be great at persuading those more senior, that they are worthy of their role. For those unfortunate to work for them, their lives are made miserable.

They never know what will happen next, and worse still, believe that if they go to anyone in their organisations the perpetrator will have the backing while they are hung out to dry. That perception is the helpless trap many are in and they suffer in silence.

This sometimes subtle form of bullying definitely needs to be rooted out, and that is about making sure that senior team members can demonstrate empathy and give their teams the respect and support they deserve.

At the Managing General Agents’ Association (MGAA) we are thrilled with our NextGen committee which has placed diversity, inclusion and mental health topics at the core of the committee’s aims and objectives.

The MGAA is supported and driven by diverse committees which are steered by market professionals, are gender-diverse and contribute much of the direction and subject matter that we turn into core objectives of the association.

As more entrepreneurs found managing general agents and our community grows, we will be working hard to ensure that our association is inclusive and supportive of talent and of our sector’s future.

Our board is committed to reflecting the diversity of our members businesses and our outreach, and our events programme is constantly improving our relevance to reflect the needs of our member businesses.

Being on the NetMGA advisory board of the British Insurance Brokers’ Association (BIBA), the association is very well represented from a diversity and inclusion perspective and BIBA actively champions so many initiatives around topics which empower people in their lives, by showcasing mental health issues with a mental health panel debate at BIBA 2019.

It was such a powerful session that there was barely a dry eye in the house. This in itself validates the link between the priority of having the best type of culture in our businesses to create a place where people can flourish.
The indicators are more positive for the future for all of us in the insurance sector. It’s to be applauded that we all talk more openly about issues that have been taboo, and that we encourage authenticity and empathy in the places where we work and coexist.

I remain very positive about what the future looks like, one where we are all able to rely on our merits, our professionalism and our qualities and to be treated as equals whoever we are.

Catherine Bell is chairman of inet3, a Suffolk-based managing general agent, and chair of the Membership, Benefits, Events and Training Committee of the MGAA.
www.mgaa.co.uk