This year marks the first collaboration between Inclusion@Lloyd’s and the London Market Group to report back on key results, highlighting the state of diversity and inclusion in the insurance sector.
Signatories of the Inclusion@Lloyd’s Diversity and Inclusion Charter and members of the London Market Group were invited to share progress and insights in their organisations. This provides an update across companies, but also highlights which areas should be given further support and helps shape feedback to the LMG Talent and Diversity workstream and Inclusion@Lloyd’s strategies.
Respondents representing 35 companies with employee bases ranging from 90 to 165,000 people globally, answered both qualitative and quantitative questions on a voluntary basis. Responses have been anonymised and aggregated, and the resulting data and insights are non-attributed.
What we found
Overall, focus is increasing. More organisations are taking steps to drive progress, improving and reporting back on practices, policies and support for diversity and inclusion. The increase seen across several metrics in the following results represents a better understanding of the business case for D&I, allowing further development of our shared goals.
Laying the foundations
As global awareness and understanding of D&I increases, it’s important to understand how this translates into momentum within the workplace. A notably high number of our respondents (89%) feel there is a greater sense of urgency around diversity and inclusion in the last year, with the majority (86%) attributed to senior management. Though it is encouraging to see that our leadership remain on board, middle managers remain the hardest to engage.
There has been an uptake in the number of formal D&I policies put in place, rising to 63% with 11% also planning to introduce in 2018. A D&I policy can often be the catalyst for successful initiatives, acting as a clear signal to employees that this is something to take seriously. To support this, a D&I council or committee is often a natural next step for many organisations even in the early stages of their journey. We have seen a continued increase in the number of these operating across the industry which now sits at over half of our respondents (60%).
Operating a D&I policy in the organisation