Studies have shown that a diverse and inclusive workforce is good for businesses’ bottom lines. So which companies in the insurance sector are doing diversity, equity and inclusion right?
Insurance Business America recently published its third annual list of 5-Star Diversity, Equity and Inclusion companies. To determine the honorees, IBA’s research team asked firms to share the DE&I initiatives they had focused on over the past 12 months – and then reached out to the companies’ employees to gauge the effectiveness of those programs. Companies scoring 4 or higher on a 1-to-5 scale were recognized for having 5-Star DE&I programs.
Paula Villafane, manager of 5-Star DE&I honoree Athena Actuarial Accounting, told IBA that companies need to be serious about DE&I to implement effective programs.
“Diversity, equity and inclusion don’t happen by accident or all at once,” Villafane said. “True commitment to these principles is demonstrated by a series of small decisions made over time.”
Alliant Insurance demonstrated its commitment to DE&I by launching its Fellows and Scholars program last year. The program – which won the Diversity and Inclusion Initiative of the Year award at the Business Insurance 2023 Awards – supports two demographics:
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To date, the Alliant Insurance Foundation has raised more than $3 million to support diversity, equity and inclusion efforts.
“We’re pushing to have at least 12 fellows coming through our rotations in any one year, and our goal is to have 60 students going through the school of insurance at Southern University at any given time,” said Lilian Vanvieldt-Gray, executive vice president and chief DE&I officer at Alliant.
To learn more about the companies pushing DE&I forward in the insurance industry, check out our 5-Star DE&I winners.
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