Abi's del blueprint will change all for the better
DEI Blueprint has a new set of guidelines to improve diversity, equity and inclusion across the insurance and long-term savings industry.
The organisation's three-year plan is designed to attract people from all backgrounds, to support them as they achieve their full potential and to advance understanding in this field.
More focus on socio-economic status and support for people at significant life events, as well as more transparency in data.
The Association of British Insurers has released a new policy paper. It's a multi-year plan to improve diversity and inclusion in the insurance industry.
Launched at the ABI’s DEI Summit, a Blueprint has been published in collaboration with industry leaders. The Blueprint is designed to help the industry recruit from all backgrounds and understand how to improve diversity and inclusion practices.
Although the industry has seen an increase in the number of women on boards last year, the overall proportion of employees from ethnic minority backgrounds across the industry fell, due to decreases at entry level.
The Blueprint is designed to encourage people from all backgrounds and experience levels into the industry. It aims to make apprenticeships and other job opportunities more attractive and inclusive by focusing on socio-economic status. The Blueprint seeks to show that insurance offers a wide range of career opportunities for many different skill sets.
The Blueprint sets out key opportunities and mechanisms for creating diverse workforces. For example, it will encourage companies to offer further support for significant life events, such as fertility treatment and menopause. The Blueprint acknowledges the importance of creating a culture that supports employees at every stage in their career so that they can reach their full potential.
Data collection is crucial to identifying where the gaps or barriers exist for protected groups and targeting efforts to tackle them. At present, data collection across the industry is piecemeal. The Blueprint aims to build a consistent set of metrics to support members in gathering the necessary diversity and inclusion information, including social mobility, and includes an ABI commitment to develop guidance to help employees feel more comfortable sharing their data. It also encourages a culture of transparency, so that the evidence can be used to advance understanding and measure progress.
Hannah Gurga, the Director General of ABI said:
“As our industry enters the most challenging circumstances in a decade, the need for a diverse range of experiences and perspectives has never been greater. I’m proud that our industry is setting the path for change by creating a more effective ecosystem that represents the people we serve. Whether it’s financial resilience or climate change, our sector has always aspired to be at the forefront of efforts to address societal challenges.
So we must also play a leading role in creating diverse, equitable, and inclusive workplaces. With initiatives such as the #MakingFlexibleWork campaign and signing up to Business in the Community’s Race at Work charter, we’ve made a start. But there is much more to do.”
The Blueprint sets out to lay the foundations for a diverse, inclusive and equitable industry. That's why the ABI is publishing it in full—to work with leaders and DEI experts both inside and outside of the industry to help reach that ambition.
Tracy Garrad, AXA Health CEO, said:
“The AXA Group is committed to providing its employees with rewarding careers and creating work environments that reflect the diversity of our society. The Blueprint for Inclusive Recruitment is a great first step in helping us achieve this goal.”