Here is the latest from The Clear Company, a diversity and inclusion consultancy.
Insurance firms must consider how they are upskilling and training their leaders to create a culture of inclusion and belonging as more firms continue their focus on boosting diversity, equity and inclusion (DEI) practices. That’s according to leading culture, diversity and inclusion consultancy, The Clear Company.
As the annual Dive In festival – a global movement in the insurance sector dedicated to fostering workplace cultures where talent can thrive – publishes the agenda for its 2025 programme, focused on the theme of “Belonging Builds Tomorrow”, the Clear Company has urged employers to consider how they are supporting their leaders. This comes at a time when data from KPMG reveals that 19% of operational expenditure in the insurance sector is allocated to skills and capabilities, including leadership and management development.
According to the specialist, true inclusion starts at the top, but the required training and upskilling needs of leaders are often inadvertently overlooked. This puts management in a difficult position where they are being tasked with leading in a context of rapid digital transformation, climate risk, and trust deficits, without being equipped with the tools to help them excel.
Kate Headley, CEO of The Clear Company and UK Government Disability & Access Ambassador for the Recruitment Industry, explained:
“Leaders play a pivotal role in cultivating and nurturing a culture of belonging and inclusion in their business and across teams. However, all too often, assumptions are made as to their skills to deliver this. True inclusion requires a niche set of attributes and the ability to take both a holistic, strategic and people-oriented approach. Leadership teams can become the facilitators and accelerators of belonging, but only if they are equipped with the tools to do so.
“The ability to create an inclusive culture isn’t something that comes fluently to everyone. It requires dedicated training, and it’s crucial that this element isn’t overlooked as more employers in the insurance remit seek to further build on their DEI practices. While the operational expenditure that is allocated to training is broadly in line with the levels we’d expect to see, we know from historical data and experience that businesses that invest more in leadership development are considered to be the most high-performing. Clearly, insurance firms will see a return on skills development for their leaders in more ways than one.”
The award-winning Dive In Festival was conceived by Inclusion@Lloyd’s, a collaboration between the Corporation of Lloyd’s, IUA, LIIBA, and the Lloyd’s Market Association and has grown to be a global, sector-wide festival. Registration for the event is now open, and places can be booked here: https://www.diveinfestival.com/
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