Insurance Europe

Belgium

• Financial institutions joined forces to establish a single “Women in finance” platform in 2018 to promote gender balance within the sector and raise awareness of diversity and inclusion matters.

• Every year, one insurer organises a “reverse mentoring session” in which the members of its executive committee are the mentees and junior employees are their mentors. The initiative helps the executive committee members to remain in touch with younger employees, for whom it is an opportunity to learn more about the organisation and career development.

• One company entered into a partnership with Passwerk for the redevelopment of its website. Passwerk taps into the qualities and talents of people on the autism spectrum in various fields. It combines an economic dimension with a social dimension to offer services to clients.

• A company active in Belgium, Luxembourg and the Netherlands developed a guide to D&I principles to ensure employees are aware of the many dimensions of diversity (eg, gender and gender identity, sexual orientation, age, nationality and ethnicity, physical or mental abilities). The guidance explains how to achieve inclusion in the workplace, including the best strategies to manage and develop employees to promote inclusive behaviour. Infographics were developed to support the dissemination of the messages. On the HR side, the company developed a guidance document to further develop a hiring process that opens the talent pool to everyone who is qualified to do the work.

• The same company offers employee networks, which are voluntary, employee-led groups in the areas of diversity for which the company strives. The networks that it offers to open are: LGBTQ, gender equality, ethnicity and international cultural heritage, working parents, intergenerational, mental health, disability and youth.

Austria

• Following the formal appointment of a D&I officer in 2020, the Austrian insurance association (VVO) established a D&I Committee. Under the auspices of two members of the management board, the Committee aims to improve the embedding of D&I in all areas and processes of the association and ensure consistency with its D&I strategy. To anchor the foundations more firmly, training sessions were held on equal treatment law in the workplace.

• The VVO launched a number of initiatives in 2021 that emphasised the association’s commitment to D&I. For example, companies celebrated International Women's Day as well as Pride Month, in the course of which a network for members and supporters of the LGBTQIA+ community was also founded. Office buildings were used as prominent ambassadors with an impressive rainbow display: “Orange the World” against violence against women and #purplelightup for a barrier-free economy.

• To develop the most effective support measures for women in management, the VVO conducted an in-depth analysis of the status quo. This analysis was part of the indexing process for the Women’s Career Index. One of the most significant measures developed on the basis of the analysis results was a comprehensive update of the VVO’s recruitment guidelines. These are designed to promote diversity in all teams and at all management levels, ensure equal opportunities for all employees, and guarantee an objective and transparent selection process for managers. In addition to the new recruiting guidelines, a mentoring programme was launched to support talented individuals in their personal and professional development.

• In order to establish a standard for geographically flexible working, some companies concluded an agreement on the introduction and handling of home offices. For companies and employees, there are new opportunities and possibilities to design communication and ways of working in a more future-oriented way. The compatibility of work and private life is to be an important goal in this context.

• Measurability is an essential criterion for the successful implementation of any strategy. For this reason, a company created an inclusion index as part of a regular employee survey. It indicates the level of success in creating a working environment in which appreciation, equal opportunities, fairness and belonging can be experienced by a diversity of people. The index questions were included in the survey for the first time in 2021 and now serves as an important indicator of D&I.

• The increasing shortage of skilled workers, which will only get worse in the coming years due to demographic changes, has been identified as a major challenge for the future. To fight these challenges, a company founded a new generation network which surveys the needs and expectations of different age groups. The company also launched a country-wide apprenticeship scheme.

• A company launched an initiative called the DisAbility Performance Check which is a detailed analysis of the circumstances of people with disabilities. Based on the results, a strategy for the gradual expansion of inclusion was developed. The measures already implemented include an improved accessibility to its website for people with disabilities as well as communications around the Day of People with Disabilities.

Luxembourg

• A company active in Belgium, Luxembourg and the Netherlands developed a guide to D&I principles to ensure employees are aware of the many dimensions of diversity (eg, gender and gender identity, sexual orientation, age, nationality and ethnicity, physical or mental abilities). The guidance explains how to achieve inclusion in the workplace, including the best strategies to manage and develop employees to promote inclusive behaviour. Infographics were developed to support the dissemination of the messages. On the HR side, the company developed a guidance document to further develop a hiring process that opens the talent pool to everyone who is qualified to do the work.

• The same company offers employee networks, which are voluntary, employee-led groups in the areas of diversity for which the company strives. The networks that it offers to open are: LGBTQ, gender equality, ethnicity and international cultural heritage, working parents, intergenerational, mental health, disability and youth.

Netherlands

• The Dutch association of insurers, the VVN, is among the signatories to a national initiative called the Diversity Charter. As a signatory, the insurance sector is committed to promoting diversity and inclusion in the workplace.

• A company active in Belgium, Luxembourg and the Netherlands developed a guide to D&I principles to ensure employees are aware of the many dimensions of diversity (eg, gender and gender identity, sexual orientation, age, nationality and ethnicity, physical or mental abilities). The guidance explains how to achieve inclusion in the workplace, including the best strategies to manage and develop employees to promote inclusive behaviour. Infographics were developed to support the dissemination of the messages. On the HR side, the company developed a guidance document to further develop a hiring process that opens the talent pool to everyone who is qualified to do the work.

• The same company offers employee networks, which are voluntary, employee-led groups in the areas of diversity for which the company strives. The networks that it offers to open are: LGBTQ, gender equality, ethnicity and international cultural heritage, working parents, intergenerational, mental health, disability and youth.

Czech Republic

Members of ČAP, the Czech insurance association, focus on a range of areas that promote D&I. There are projects to support young talent, facilitate the employment of disabled people, run training programmes for employees aged 55+ and to keep in touch with retired employees.

ČAP members also focus on women, with, for example, a “Women Managers Club” or efforts to create a more balanced representation of women in management roles. Employers also focus on supporting employees on maternity/parental leave. The promotion of diversity is supported through courses for employees.

Denmark

• One company has introduced several initiatives to increase LGBT+ inclusivity so that everyone can be their full and true selves at work, feel they belong and be empowered to make a difference. These include:

• Six hours of training for all employees, based on UNESCO’s competency framework for achieving the UN’s Sustainable Development Goals, which aims to create a common language and understanding for discussing D&I issues and to increase employee awareness.
• A partnership with Stonewall, the LGBTQ+ rights organisation, to provide benchmarking, webinars, etc.

• Publishing analysis of the median gender pay gap across all its business units in its yearly sustainability report.

France

• The parental and child welcoming leave was extended to 28 days (including birth leave) as of July 2021. Insurers decided to go further with supplementary financing to guarantee 100% of salary.

• In the insurance industry, more than half of all managerial positions are occupied by women (51%), up 6 percentage points since 2009 (source).

• In February 2021, insurers signed an agreement on diversity and equality with the trade unions to promote inclusion and combat all forms of discrimination. It covers concrete measures in four areas: combatting discrimination against all those covered by the agreement (women, LGBT+ individuals, the young, older people, handicapped workers), professional and wage parity for women and men, measures to combat sexual harassment and violence, and further inclusivity policies.

• Individual companies have also implemented D&I policies and launched various D&I initiatives.

Germany

• The AGV, the employers’ association of insurance companies, has been very active since 2012 in improving the number of women in leadership positions. In 2013, it established an advisory board, consisting of both female and male C-level members, who help the AGV to run projects and improve gender equality at senior career levels. Due to the high rate of female insurance employees who work part-time (42% of women in the sector work part-time, but only 6.4 % of men) and the still widespread belief that leadership needs full and constant involvement, as well as other cultural issues, women are still underrepresented in management positions. Nevertheless, since establishing the advisory board, the proportion of women in C-level positions has risen from 5.7 % to 13.2 %.

• The AGV strongly believes in the power of role models. The more women in leadership positions there are, the more that will follow. Therefore, since 2012, the AGV and its advisory board regularly hold a major conference for top female managers, which gives them the opportunity to network beyond their own companies and which inspires them to help other women in their company to develop their career. The conference is very popular; it is estimated that nearly two-thirds of top female managers regularly attend. Pleasingly, the AGV’s women in leadership conference has been copied by a lot of companies, which hold similar conferences for their own staff. In 2020, the AGV also launched a virtual mentor talk with female C-level members called “Inspiring female leadership”.

• The AGV’s women in leadership network gives its members the possibility to share best practices and to learn from each other. Several workshops and surveys have been held, such as women in sales, corporate culture and part-time leadership.

• To further promote diversity in the insurance industry, the AGV founded a Diversity Expert Group, which comprises the diversity officers of companies. Since 2020, they have been meeting regularly to exchange information about their activities on diversity, inclusion and non-discrimination and related measures. 17 companies or groups of companies are involved in the group. The network meets virtually every three months and exchanges information on good practices and current issues and experiences. The open exchange and discussions in small break-out sessions offer practical added value to daily work. The results of this expert group are made available to all members in order to provide impetus for further and new activities in all member companies.

• Companies are increasingly focussed on D&I and are committed to an open and tolerant working environment. One company that cooperates with various LGBTI+ initiatives and has also taken part in various campaigns can now call itself an LGBTI+-friendly employer having won a gold PRIDE Champion award. Another company has committed to increasing its number of female executives globally to at least 40% by 2025. The inclusion & diversity strategy of this company goes beyond gender and, depending on the regional focus, also includes ethnic diversity, LGBTIQ+ or different generations.

Greece

• Insurance companies are increasingly focused on initiatives promoting equal opportunities in the workplace and addressing potential labour market inequalities in the insurance sector, such as the pay gender or seniority gaps.
• With the aim of cultivating an inclusive culture and creating a supportive framework that will allow all employees of a company, without discrimination, to acquire and apply new tools for personal and professional development, companies reported the following initiatives:

• Seminars, speeches and interactive workshops, such as on violence and sexual harassment in the workplace, women’s and mothers’ empowerment, are conducted to raise employees’ awareness of DEI issues.
• Policies on the prevention and combat of violence and sexual harassment in the workplace.
  
• Policies/codes of conduct on recruitment, training, personnel management and the inclusion of new employees in the workplace.
  
• Policies to encourage and support a work-life balance through teleworking, training programmes and flexibility in parental leave, as well as physical and mental wellness programmes, such as exercise programmes and psychological and nutritional support services.
  
• Whistle-blowing policies that encourage employees to report issues such as sexual harassment.
  
• Reporting that includes indicators reflecting the levels of DEI in the organisation.
  
• Two companies have signed the European Commission’s “Diversity Charter”.
• One company reports paying significant attention to the equality of remuneration in each position, with KPIs set based on the annual study of employees’ remuneration and benefits in the sector.

Ireland

• Insurance Ireland, the Irish insurance association, is a member of the global 30% Club, which is a voluntary organisation of senior professionals committed to reaching at least 30% female representation on boards and in executive leadership teams. The Irish chapter of the club was established in 2015 and, by 2020, representation was 27.4%.

• Insurance Ireland collaborates regularly with the Centre for Insurance Risk and Data Analytics Studies (CIRDAS) at the Institute of Technology, Carlow and Letterkenny Institute of Technology and the InsurTech Network Centre (INC) to offer a fully funded, online masterclass on race and ethnicity in insurance.

• Insurance Ireland has an Inclusion Taskforce which meets on a quarterly basis to discuss D&I initiatives within its membership & externally. In 2021, it created four sub-groups for: age and disability; gender; LGBTI+; and race and ethnicity. Each of these sub-groups meets four or five times a year. The aim of each sub-group is to provide an in depth and dedicated focus on each theme and formulate key initiatives throughout the year.

• Insurance Ireland publishes a D&I newsletter twice a year.

• In 2021, Insurance Ireland partnered with its strategic alliance partners Deloitte and Brokers Ireland to carry out a first industry-wide Diversity survey. Its purpose was to understand the current diversity landscape, reflect where the industry is doing well and identify any gaps to enable future improvements. The survey focused on three areas: gender, nationality/ethnicity and age. The results are split into small, medium and large organisations. The aim is to run this survey every year.

Italy

ANIA, the Italian association of insurance companies, and the National Commission for Equal Opportunities in the insurance sector, which was set up by the insurance social partners in 1991, work to spread a culture of equal opportunities in the sector through annual initiatives and events.

• Industry initiatives

“Certificazione della parità di genere” (Gender equality certification)
The Italian standardisation body, UNI, released new standards in 2022 (UNI/125:2022 Guidelines) whose objective is to certify companies’ policies and measures to reduce the gender gap. ANIA launched a project in December 2022, in collaboration with UNI, to support companies in obtaining the equality certification.

Renewal of the National Collective Agreement (CCNL) for the insurance sector, November 2022
Collective bargaining is a strong tool for raising awareness and influencing the entire sector. ANIA and the trade unions have introduced initiatives in the areas of disability, health and safety, welfare, gender and parenting:

• Time bank: each employee can give leave days above a minimum annual period of four weeks to an employee of the same company who needs to assist their first-degree relatives.
• Introduction of dedicated paternity leave and a recommendation to companies to promote its use.
• Expansion of the tasks of the National Commission for Equal Opportunities in terms of gender equality, diversity and inclusion, disability, and work-life balance.
• Recommendation aimed at facilitating the granting of additional permits for workers who need to take care of a non-self-sufficient relative and are therefore considered “family caregivers” under national law, as well as recommendation of forms of flexible work for family caregivers and parents of children up to the age of 12 in order to guarantee a full balance between work and family life.
• Encouragement of the use of flexible hours for first-degree relatives of students in the first cycle of education with attention deficit disorders or special educational needs who are involved in assisting school activities.
• Correction of all the provisions of the CCNL that refer, directly or indirectly, to “spouses” to “civil unions” and “de facto cohabitation” as referred to in the “Cirinnà law” that recognises same-sex unions.
• Revision of contractual texts to use inclusive language that does not identify gender.

• Company initiatives

Many initiatives have been undertaken by companies over the years to ensure the equal rights, inclusion and well-being of employees. Examples include:

• Recruitment: 50% male/female ratio of external hires and focus on attracting female talent to science, technology, engineering and mathematics positions; at least 40% of the under 30s hired annually must be women; recruitment and career counselling initiatives and events in partnership with universities and student associations.
• Initiatives to ensure gender equity (at least 50% of women) during recruitment and promotion procedures; improving the presence of women in top positions in succession plans; obtaining a 50:50 promotion ratio of men and women.
  
• "Ensuring Conciliation" project to consolidate and improve the good practices currently used to support staff on maternity/paternity leave (nursery, agreements with schools close to the workplace, financial contributions for kindergarten for personnel who live far from the workplace).
  
• The job retention period in the event of a long illness in the National Collective Agreement (CCNL) has been extended by six months; beyond that, a “solidarity fund” is activated, to which all employees who have joined contribute, which guarantees financial support during the entire period without pay.
  
• Disability in the Company, Advanced Professionalism, Research and Integration (DAPARI) is a programme that aims to accompany disabled people, in particular the blind or visually impaired, from their school and university training to the world of work.
  
• Prevention and combatting of all types of discrimination and gender-based violence through a series of initiatives aimed at protecting, educating and informing employees and stakeholders through, for instance: a 24/7 helpline, and e-learning, ad hoc measures introduced in the agreement with company employees.
  
• An updated trade union agreement introducing equity and equal opportunity measures and benefits for LGBTQI+ employees and families; a first “de-biasing project”.
  
• Since 2019, a consultancy service has been available to employees which offers five support sessions to those facing difficult personal situations. A toll-free number is also available 24 hours a day for support in case of need. Managers take an online course on preventing mental illness in teams.
  
• Programmes aimed at physical well-being (yoga, Pilates, stretching and muscle strengthening).
  

Norway

• In 2021, the finance industry launched the “Women in Finance Charter”. The charter is an initiative of the industry itself to increase the proportion of women in leading positions and specialist functions.

• The financial services association, Finance Norway, has, in cooperation with the trade unions, developed an equality and diversity toolbox that provides examples of various measures that companies can use to promote and ensure gender equality.

• Finance Norway has, also in cooperation with the trade unions, developed gender equality indicators to measure the situation and developments in the financial industry.

• According to the collective bargaining agreement in the financial sector, employees are entitled to a salary increase when they return to work after a minimum of five months of parental leave. The aims of the measure are to encourage more fathers to take longer parental leave and at the same time to ensure that the salary of both women and men do not stagnate because of parental leave.

• Finance Norway has, in cooperation with its member companies, developed guidelines for diversity recruitment for companies to use in their recruitment processes.

Poland

• Various companies adopt specific solutions and practices to support D&I. Good company practices in diversity management includes, for example, having anti-discrimination procedures. They also include transparency and objectively measured employee remuneration. Flexible forms of employment, in turn, are a response to the needs of diverse employees, such as people with disabilities or those caring for children or other family members. Employers often decide to set up a helpline or appoint an independent ombudsman.

• The Diversity Charter is an international initiative supported by the European Commission. Employers that sign commit to implement effective solutions for the development of equal treatment policies and diversity management in the workplace and their dissemination among business and social partners. The Polish Charter of Diversity is coordinated by the Responsible Business Forum. Almost 250 companies, including insurers, are signatories. 2022 marked the tenth anniversary of the Charter in Poland.

• Examples of actions by individual companies include:
  
  

• A company obtained the first level of “EDGE” gender equality certification and, every quarter, assesses the gender pay gap and makes all pay decisions on that basis.

• A company’s recruitment advertisements include a short description of the company and its values that emphasises its openness to all candidates, regardless of their origin, religion, gender, disability or sexual orientation.

• One of a group’s requirements for preparing succession plans is to include at least one woman for each position covered by the plan.

• “Better with U: Inclusion and Diversity” is a company-wide programme to support, promote and develop the idea of inclusion and respect for diversity inside and outside the company. The gender, age and abilities diversity teams formed among employees and associates diagnose all areas of the company’s operations and propose solutions aimed at creating a more inclusive work environment. As part of strengthening the activities of groups, regular meetings, workshops and webinars related to diversity and inclusive language, work ergonomics, talent workshops and mutual exchanges of experiences are organised. The company's programme and approach to the area of diversity include employees, clients, job applicants and other stakeholders.

• One group’s foundation for the professional integration of disabled persons is one of the key projects that makes up its corporate social responsibility programme. Established in 2004, its mission is to support people with disabilities on their path towards a professional career and continue to support them later during their careers. It focuses on creating conditions for cooperation between its beneficiaries and their employers, breaking down stereotypes and overcoming psychological and physical barriers. In 2021, the foundation helped 96 people with disabilities and conducted workshops for 540 people on building relationships with a person with a disability as a co-worker and client.

Spain

• The new collective agreement for the insurance sector (2020-2024) establishes, as one of its main goals, the advancement of equality and conciliation. Some of the key measures agreed include:
  
  

• The Committee for Equal Opportunities and Employment has been established to study the evolution of employment and equal opportunities in the sector and to propose active policies to promote diversity.

• A paid reduction of working hours has been established for pregnant women after the thirtieth week of pregnancy.

• Paid leave to attend childbirth preparation courses.

• Teleworking for pregnant women.

• In 2019, UNESPA adopted a set of good practices examples regarding equality between women and men that includes measures on avoiding discrimination in aspects such as selection, training, professional promotion, work-life-balance, joint responsibility and communication and awareness, retribution and the prevention of sexual harassment based on gender. UNESPA plans to regularly update these examples.

• An initiative called the EWI Network was launched in the insurance sector, which 44 (re)insurance companies and eight insurance brokers have joined, and which is also promoted by the institutions representing the insurance sector, including UNESPA, the Spanish insurance association. One of its objectives is to accelerate and increase the number of women managers in the sector to make it more sustainable, fairer and also more competitive. An ambitious goal has been set to reach a quota of women managers of close to 40% by 2023.

• To this end, good practices implemented by the members of the network are shared in areas such as work-life balance, where there are plans to promote joint responsibility by encouraging the mandatory use of paternity leave or establishing flexible working hours at the beginning and end of the working day or implementing one day a week of teleworking.
• In terms of training, there are plans to launch equality awareness campaigns for the entire workforce and, in particular, for recruitment, in order to reduce unconscious biases in the personnel selection process.
• Among other issues, it has also been recommended that individual development plans are introduced and that the development of women through support and sponsorship campaigns by the management bodies of companies is monitored.

United Kingdom

• The DEI Network of the Association of British Insurers (ABI) brings members together to discuss key issues, share best practices and drive change. Every year it publishes a survey, available to participating members, which collates information about the DEI initiatives taken by members.

• As an employer, the ABI’s inclusion strategy focuses on creating a culture that allows everyone to thrive.
• DEI Blueprint: The ABI has developed a Blueprint that sets out how, working with DEI practitioners inside and outside the insurance industry, it will work towards a more diverse, equitable and inclusive sector. The Blueprint recognises the importance of “intersectionality” — the fact that each individual may experience a number of different factors that could lead to them experiencing discrimination or exclusion, which is why DEI initiatives need to be incorporated into a wider framework.
  

• An overview of the ABI’s initiatives can be found in its Diversity Hub. Key initiatives include:
  
  

• Achieving gender parity: The ABI works to achieve greater representation of women within the industry, especially at senior levels. Members are encouraged to sign the government’s Women in Finance Charter, the ABI-led Making Flexible Work Campaign and Charter and the ABI-led Transparent Parental Leave Initiative, with which the insurance industry became the first sector to publish its policies for expectant parents.
• Black, Asian and minority ethnic: The ABI and 38 of its members are among the first wave of insurance and long-term savings firms that have signed up to Business in the Community’s Race at Work Charter, as part of an industry-wide commitment to improving opportunities for black, Asian and minority ethnic colleagues. Read more about other related initiatives here.
  
• Social mobility: The ABI encourages its members to improve and increase the data that they are gathering in order to better understand the background of their employees and inform the action plans that they put in place.
  
• LGBTQ+: The ABI’s members are committed to championing LGBTQ+ inclusion and want to support employees to be their authentic selves at work. Read more here.
• Disability and neurodivergence: The DEI Blueprint includes a goal to further increase the number of ABI members that are part of the Government’s Disability Confident employer scheme. It also outlines external stakeholders to work with in raising awareness on neurodivergence.
• Future leaders: The ABI’s award-winning executive development programme, “Future Leaders”, ensures a pipeline of diverse talent for the insurance and long-term savings sector.

Switzerland

• The 2021 personnel statistics of the private insurance industry show that it is quite balanced in terms of employee gender, with 45% women and 55% men. At management level, women make up a third of the workforce and at upper-management level they account for a fifth.

• Every second year, the Swiss Insurance Association (SIA) collaborates with the University of St Gallen to publish a diversity benchmarking of the insurance sector. The 2021 report showed improvements in gender and age representation at all management levels. At the same time, it highlighted persistent challenges, especially in terms of the representation of women at management level.

• In 2022, the SIA organised a “Women insurance networking day (WIND)” to increase the attractiveness of the insurance sector to women and to provide the participants with concrete ideas for the development of their career. The event encouraged women to foster their own career plans, exchange experiences and network with their peers.

• 25% of private insurance industry employees work part-time and this has increased slightly over the last 10 years. The number of women working part-time (76%) is significantly higher than the number of men.

• Swiss insurance companies are involved in a wide range of DEI measures. These include:
• Training on unconscious bias towards gender, disability and ethnicity.

• “Lunch and Learn” events to raise awareness of LGBTQ+ people and to encourage their inclusion within the company.

• Periodical employee surveys to analyse the level of diversity and inclusion within the company.

• Promoting part-time employment, as well as job-sharing by both staff and managers.

• Multiple companies conduct regular analyses of pay to reduce unjustified pay gaps between men and women.

Slovakia

• SLASPO, the Slovak insurance association, and its member companies are active in the DEI area. Workshops they have organised for management and employees include “Equal pay analysis”, “Gender pay analysis” and “Age diversity”. Companies also run grant programmes to advance the inclusion of different groups, mainly to increase the age and gender balance in companies.