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Are diversity policies really making a difference?

Are diversity policies really making a difference? | Insurance Business

Are diversity policies really making a difference?

Just how impactful have diversity and inclusion policies truly been?

The Chartered Insurance Institute (CII) is aiming to find out by committing to ensuring policies for chartered firms are making a positive difference.

The move comes a year after the CII released five actions aimed at ensuring that corporate chartered status would be relevant and diverse, while helping develop the wider profession. Among the steps was the introduction of a requirement for firms to have a diversity and inclusion policy in place.

To help with this cause, it issued guidance on the approaches businesses could take to ensure fair outcomes – and more than 900 firms hoping to retain their chartered status have confirmed they will have policies in place by the end of the year.

Now, the CII has confirmed that, from 2021, it will look for examples of the impact these approaches have made.

“It is vital the requirements for corporate chartered status ensure the profession remains modern, relevant and diverse,” said Melissa Collett, professional standards director at the CII.

“Corporate chartered status requirements are continually reviewed to ensure relevance and are overseen by the CII’s Professional Standards Committee, which is chaired by an independent legal practitioner and includes representatives from across the profession as well as consumer groups.

“We believe that by actively listening to the feedback from stakeholders, we can continue to build public trust in a more diverse, inclusive and united profession.”