The Insurance Industry Charitable Foundation UK (IICF) raised more than £120,000 at its annual gala dinner, adding to funds for charities that support young people facing adversity.
The event, held at Plaisterers' Hall in London on October 8, brought together 200 insurance leaders from more tahn 30 companies. Vitesse PSP, The Hartford and AXA XL sponsored the evening.
The money will got to IICF's community grants programme. This year's beneficiaries include The Children's Book Project, cricket charity Chance to Shine and tutoring charity Tutors United.
Since launching in 2015, IICF has raised more than £3.2 million for social mobility charities. It says that money has supported more than 8,000 young people to do better at school, find work and make a fresh start.
Guests heard from Matthew Robinson, head of fundraising at Northampton Saints Foundation, and former England rugby player Tom Wood, an ambassador for the charity.
Mark Trummer, managing director of Axco and chair of the IICF board, presented the foundation’s Above & Beyond award to Emma Hodgart of AXA XL. The award recognises a member of IICF’s associate board of aspiring insurance leaders for an outstanding contribution over the past year.
Phil McGriskin, chief executive of Vitesse, said the focus on literacy was especially meaningful to him, because reading had played a large part in his own career.
“Insurance is a network business, and IICF brings people across our industry together to support our communities,” said McGriskin.
IICF says its work also helps insurers reach more diverse talent, strengthen staff engagement through volunteering and increase their community impact.
That matters for an industry struggling to recruit. Talent attraction and retention is now UK brokers’ top priority, according to a survey at this year’s BIBA conference, as Insurance Business reported in June. The Chartered Insurance Institute has found only 4% of young people express interest in an insurance career.
For insurers and brokers, supporting social mobility charities is one way to connect with young people who may never otherwise consider insurance as a career, widening the pool the industry recruits from.
The IICF gala is the latest in a series of industry fundraising efforts this autumn. Lockton staff recently raised more than £275,000 for Alzheimer’s Society, and Lycetts employees helped run sports days for more than 400 children in Hull.
