The health and protection insurance sector is making significant progress in introducing initiatives aimed at improving diversity across insurers and intermediaries alike.
Organisations are trying to recruit more diverse workforces by removing demographic indicators from CVs and some are recognising the challenges faced by certain groups such as women experiencing menopause, working parents and carers.
And firms are signing up to diversity charters and creating committees to ensure diversity is front of mind at board level.
But it appears barriers to career progress for women in the City of London remain – meaning one contributor has some choice advice for women in the sector seeking to move into management roles.
Blind applications
Telling a candidate they are not the right ‘cultural fit’ can often be an excuse for hiring a candidate who looks and acts the same as everyone else at that office.
But Penny O’Nions, principal at intermediary The Onion Group, told Health & Protection she is only interested in a candidate’s qualifications, ability and attitude, so her organisation removes indicators of age, sex or colour at the initial stage of the recruitment process.
Insurer Royal London is another organisation seeking to cast its recruitment net far and wide.
Tracey Kneller, group chief people officer, told Health & Protection it’s recruitment strategy has not changed and that it welcomes all applications, including those who have taken an extended career break or are transitioning from different sectors.
“To support this we are always open to discussing flexible working arrangements, part-time opportunities and job shares to give colleagues the freedom to be their best,” she says.
“We work closely with our recruitment partner to ensure we leverage the right data and technology to create diverse shortlists and get the right talent at the right time with the best experience possible for all involved.”
Henry Jones, head of inclusion at Legal & General, explains that its diversity and inclusion council, established this year and which reports to the group’s board, is aiming to build greater diversity at the organisation through more proactive recruitment.
“We will build greater diversity through proactive recruitment from a more representative cross-section of society while creating opportunities for those from under-represented backgrounds,” he says.
“And we will create a more inclusive culture by improving line management capability and establishing a global mentoring programme. These are the activities against which we’re working to set targets and track progress.”
Leadership programmes and cultural awareness
In order to ensure diversity remains at the forefront of their agenda, insurers are also developing leadership programmes and raising cultural awareness.
Axa revealed it operates four employee resource groups. These are aimed at driving disability and carer-friendly improvements, raising awareness about the value of ethnicity and diversity, supporting gender equality and working families, and promoting LGBT+-friendly changes.
Aviva, is a signatory of the Women in Finance Charter, the 30% club, and the Race at Work Charter.
Alongside these it has developed a bespoke ethnic minority leadership programme in the UK and set up an Origins intern programme, supporting younger generations from minority backgrounds to kick-start their career in financial services.
Zurich, also a signatory of the Race at Work Charter, a Disability Confident Leader and member of the Valuable 500 movement which supports customers and employees with disabilities, operates a number of employee networks. These include a Cultural Awareness Network (CAN) and an Accessibility and Inclusion Network (AIN).
And advice firm LifeSearch, which is a signatory to the the Race At Work Charter and the Making Flexible Work Charter, created a fairness and diversity squad last year.
Andrew Parker, head of people and culture, said this was aimed at reflecting diversity across all elements of the business from recruitment and training through to marketing and brand.
“More recently our culture re-energisation programme has heavily focused on tolerance and helping people understand that. We brought in an external expert on diversity and inclusion to meet with every colleague in 13 workshops to shape our thinking and outlook,” Parker adds.
Recognising individual needs
MetLife, which also operates a dedicated diversity and inclusion committee, says this has come into its own by raising awareness of groups who may be underrepresented.
Head of HR Amy Tomlinson explains this includes women experiencing the symptoms of menopause. “While as a group they are known, it is important that as a business we are compassionate and understanding to their needs,” she adds.
That recognition of individual needs can be highlighted through embracing technology, according to Matthew Harris, operations director at employee benefits consultants Prosperis.
Harris says the use of technology and embracing flexible working has proven a potent way of retaining talented people with outside commitments, such as working mums and dads or those caring for older family members.
Challenges still faced by women in the City
But all the diversity committees and initiatives in the world are meaningless unless long-held or stereotypical beliefs about the potential of certain groups are properly challenged.
And Inez Cooper, the founder of insurer William Russell, says in the City of London, women still encounter discrimination.
“It’s a hard battle, and changing people’s deep seated opinions, is hard to do. At William Russell and as a woman, my priority is to get the best person for the job,” she says.
“From a business point of view I don’t care if that’s a man or a woman. From a personal point of view, I do like to see women putting themselves forward and flourishing.
“Our customers come from all points of the globe. Having a workforce that is diverse in gender, age, and nationalities, reflects our customer base, increasing our awareness and understanding.”
But Cooper offers some advice and support for those who may be uncertain about their place in the industry.
“Women need to be more confident,” she continues.
“I have seen women on my staff who have worked for years in clerical positions, never thinking they could become managers.
“But when encouraged to management positions, they can really shine, and the best thing about them is that they pay attention to all of the detail they were dealing with in their former positions. They really care, and they command respect from their colleagues, and real admiration from me.”