Welcome to the new Holding Up the Mirror report. As we report on our progress across the market, we do so in context of the events and findings of D&I within and outside the insurance industry.
Looking back, the last 12 months has been significant for diversity and inclusion in insurance. This is for a number of reasons, many inspiring, but others undoubtedly challenging. Inclusion@Lloyd’s has been faced with tackling some of the bigger challenges, such as those the media shone a light on earlier this year addressing instances of harassment and bullying that had gone unchecked. Lloyd’s swift and decisive action, implementing new measures to create a safe and inclusive working environment for all, has sent a clear message of zero tolerance.
The part we play at Inclusion@Lloyd’s is to provide the governance, strategy and resources to build a clear picture of best practice that firms can work towards. A key part of the effort is to actively listen to what people have to say about the Lloyd’s market culture and their experiences to understand where we are now and where there is still work to do. After commissioning in-depth market-wide independent research, we will be developing the ‘courageous bystander’ initiative to empower everyone to own the culture and take positive action to create an environment that we can all be proud of.
Beyond the insurance sector and our efforts at Inclusion@Lloyd’s, transparency in D&I reporting is growing in importance in all sectors. As well as reporting annually on the gender pay gap, in the UK we are preparing for ethnicity pay gap reporting also. To help keep on top of these new demands, we have created a dedicated Inclusion@Lloyd’s website to make it easier to find everything we offer in one place.
The growing appetite for openness is making it possible to discuss issues that were previously difficult, normalising conversations that wouldn’t have been easy even as recently as four years ago when the first Holding Up the Mirror Report was published.
Mental health and wellbeing is the highest-profile example, but support is also growing for families, with many firms going above what is required by law to shared parental leave, understanding of the need for time to address family caring responsibilities of parents as well as children. These issues, along with faith at work and many others of equal significance, are reflected in the agenda of the international Dive In Festival report for 2018 and the plans for 2019 – a milestone fifth year of continued growth which we will celebrate with an event hosted by the Bank of England in London, where the festival was first conceived.
Those who are leading the D&I charge inside of our organisations will remain close to us, working in collaboration as we have done this year with the London Market Group (LMG), whose support we are delighted to have again this year in the presentation of this report. Working together, sharing resources and experience feels like the very best way to ensure we build workplace cultures that we can be enduringly proud of.