This award recognizes a diversity, equity & inclusion initiative introduced within the last eighteen months by any organization operating in the high-net-worth insurance and risk management segment. Learn more about the DEI Initiative Award.
In a significant move towards ensuring a more inclusive workplace, USI revamped its approach to diversity, equity, and inclusion (DEI) in 2020 with the introduction of the 'I’m With U' program. This initiative stands as a testament to the organization's unwavering commitment to pushing the boundaries of their DEI endeavors. With a workforce encompassing a multitude of demographics and backgrounds, USI seeks not only to represent but also to educate and arm its associates with the tools and knowledge necessary to optimally serve their clients, prospects, and the broader community.
At the heart of this endeavor lie several pivotal steps, including enhancing USI's diversity metrics through structured education and training, providing avenues for career progression and mentorship, establishing diverse partnerships and networks, engaging in service and philanthropy, and emphasizing diversity in hiring. A significant stride within this journey was the introduction of the 'Recruiting a Diverse Workforce' initiative in 2022. Targeting the enhancement of the talent acquisition process, this initiative aimed to foster diversity from the ground up. The results speak volumes; a considerable uptick in diversity was observed within the early-career professional segment, rising from 24% in 2021 to 33% in 2022.
The positive trend in diversity metrics didn't stop there. Following the launch of the aforementioned program, along with the 'Navigating the Employee Lifecycle' training in 2022, there was a noticeable increase in age and ethnicity diversity, with the Millennial segment growing by 2.0% and the Generation Z population by 3.7%. This growth in representation underscores USI’s recruiters and leadership's commitment and adaptability in embracing inclusive hiring. The demographics further evolved in 2023, with both the Millennial and Generation Z segments showcasing further growth, and a steady or improved representation across diverse ethnicities.
USI's dedication extends to the broader personal insurance and risk management sector. USI National Personal Risk Practice Leader, Jim Kane, who served previously as the president of PRMA’s board of trustees, was proud to partner with the PRMA Executive Director and president-elect on multiple DEI initiatives. Not only did this partnership fortify USI's external DEI endeavors, but it also strengthened its internal initiative, 'I’m with U', that aims at individual action, unity, and a series of values represented by the letter U. This program, emphasizing understanding, uncovering biases, uplifting peers, upholding commitments, maintaining an unblinking focus on DEI, and unifying teams, has played a pivotal role in shaping USI's vision for a diverse and inclusive industry.
PURE Insurance’s progressive DEI program, titled ‘Always On,’ stands as a testament to their unwavering commitment to championing a work environment that thrives on diversity, inclusion, and equity. This initiative embodies the ideology that for inclusivity and diversity to truly bear fruit, they must remain an ever-present focus. PURE Insurance’s endeavor goes beyond mere words, as evident in their talent acquisition process.
The ‘Always On’ initiative plays an instrumental role in ensuring that all applicants are interviewed by a diverse set of professionals. This approach, which involves selecting exemplary cultural contributors within PURE for the final interview stages, places significant emphasis on aspects like intellectual curiosity, emotional intelligence, and grit. Such a holistic approach to talent acquisition has resulted in a commendable increase in the diversity of new hires. Moreover, over the past three years, internal promotions have seen an impressive representation of women and individuals of color.
Talent retention at PURE is driven by a profound understanding that employee-manager dynamics are crucial. This understanding translates into their partnership with the NeuroLeadership Institute (NLI) to empower their managers in fostering inclusivity within teams. This initiative focuses on pivotal habits like finding common ground, uplifting team members, and providing clarity. To ensure continual growth, managers engage in Accountability Pods, providing a platform for mutual growth, learning, and accountability. At the individual contributor level, the focus remains unyielding, with online courses aimed at instilling a sense of inclusive team dynamics.
PURE’s commitment further manifests in its seven Employee Resource Groups (ERGs) that engage nearly half of the company’s workforce. These ERGs have been pivotal in fostering mental wellness, professional growth, cultural enrichment, and more. Sabrina Ali, PURE’s DEI Manager, has been at the forefront of these efforts, playing an instrumental role in collaborations like those with PRMA’s D&I Committee. Her efforts, coupled with the ERGs, have seen significant advancements in diverse representation within leadership roles, with an impressive rise in the number of women in directorial positions and above. ERGs not only contribute to internal development but also position PURE to better serve a diversifying high-net-worth market. Through dedicated panel discussions and focused initiatives, PURE aims to cater to the evolving needs of the diverse high-net-worth population, ensuring they remain a frontrunner in the industry.