Industry-led campaign, Insurance United Against Dementia (IUAD), has reached its initial £10m fundraising target, set when the campaign launched in 2017.
IUAD was created by insurance leaders directly affected by dementia to raise funds and awareness for dementia charity, Alzheimer’s Society.
Some of the money raised has funded research at the world-leading UK Dementia Research Institute and contributed to Alzheimer’s Society becoming a founding funder of the centre.
Funds raised by the insurance industry also meant the charity could increase capacity of its Dementia Support Line, which handles 70,000 calls per year. These experts are often the first point of contact after a dementia diagnosis.
IUAD said the £10m milestone has been hit due to the generosity of businesses, individuals, and events raising money as part of an “unprecedented” industry collaboration, adding it has benefited from the dedication of senior leaders forming a board of volunteers driving support for the cause.
Richard Dudley, group chief broking officer at BMS Group and chairman of the IUAD board, said: “IUAD is a wonderful example of how the insurance industry can work together to make a difference.
“To know that the funds raised have helped people affected by dementia when advice can provide a crucial lifeline, and to know that our industry has played a role in research breakthroughs for a future without dementia is truly humbling.
“Dementia has not gone away and we will continue our campaign to raise both funds and awareness across the industry.”
Industry professionals Chris Wallace, Paul Jack, and Benedict Burke originally launched the campaign having been personally affected by the condition.
Chris Wallace, executive director, UK Insurance at QBE and founding member of IUAD, said: “It was a big ambition when we started but we had confidence in the industry wanting to make a difference and we’re so grateful to have seen thousands across the sector get involved.
“We’re grateful to everyone across the market who has and continues to partner with us.
“I’m also delighted that we have helped more colleagues become aware of dementia as a challenge to society, and increased understanding of the support available from Alzheimer’s Society.
“Having personally lost a loved one to this cruel disease, like others from the board and industry, this has been an important part of the campaign.”
Other IUAD highlights include winning Insurance Collaboration of the Year at the 2024 British Insurance Awards, uniting leaders and colleagues through three overseas ‘Insure Trek’ challenges, and solidifying ‘Insurance Day for Dementia’ as an annual fundraising event in the industry calendar.
The November 2024 edition raised over £240,000.
Since the campaign launched, more than 18,000 Dementia Friends have been created through IUAD.
With dementia affecting almost half of the 350,000 colleagues working in the insurance industry either directly or through a loved one, the information programme has been vital in helping change perceptions and provide information on the support available.
Partnerships and contributions from businesses across the insurance market have helped to achieve the fundraising milestone, with more than 130 firms and organisations having supported.
This includes significant support from the likes of Howden, Zurich, QBE, Lockton, PIB Group, Arch Insurance, WTW and the industry’s Covid-19 Support Fund.
Kate Lee, CEO of Alzheimer’s Society, said: “I don’t think one industry has ever got behind a charity and cause quite like the insurance industry has with Insurance United Against Dementia.
“The campaign has made a huge impact – securing funding to create new services during the Covid-19 pandemic, enabling investment in world-leading research centres, and galvanising an incredible amount of fundraising and awareness for dementia.
“£10m is a huge amount to raise over seven years – and we’re so incredibly grateful to everyone who has supported us from the very beginning to where we are today.
“This generation has the potential to put an end to the devastation caused by dementia – but only if we work together.”
