Companies Must Change Culture to Boost Diversity & Inclusion

According to a new study by insurance festival Dive In, professionals in the insurance industry believe workplace culture needs to change in order to attract and retain top talent. Almost three quarters, or 71 per cent, of insurance professionals surveyed from around the globe said that the environment in firms must become more inclusive.

The areas in the workplace which need the most work in terms of openness and inclusion are as follows. The UK ranked mental health as a top priority, while inclusivity for people with disabilities came close second and advancing diversity and creating more of a dialogue for sexual orientation and gender orientation coming in third.

Inga Beale, chief executive of Lloyd’s of London, added: “The insurance sector is working hard to address its culture. We have made a lot of progress and, although we have more work to do, we are uniting across the insurance world to attract and retain a diverse workforce.”

Dive In surveyed more than 2,800 respondents from 150 firms in 17 countries, who are attending the third annual Dive In festival.

This year’s theme is the Diversity Dividend, to connect the festival content to the business case for diversity & inclusion best practice. The award-winning festival is an initiative of Inclusion@Lloyd’s, the group that provides strategy, governance and practical support across the Lloyd’s market. The theme ensures the focus stays on the vast benefitsof a diverse workforce and an inclusive culture. The Inclusion@Lloyd’s committee has this year established a new Dive In Steering Committee with the specific remit of shaping and delivering the Dive In festival, comprising representatives from brokers, underwriters and professional bodies.

This year’s Dive In, the third since it launched in 2015, will take place from the 26th to the 28th September, with events returning to global locations such as London, New York City, Zurich, and Bermuda, as well as new cities including Beijing, Perth, Melbourne, Leeds, and Mumbai, with further locations to be announced soon.