Bridging the Diversity Gap

Experts on the topic of diversity in the insurance industry say there hasn’t been enough done to attract or retain talent from the Black community.

In a recent Insurance Journal webinar, “How the Insurance industry Can Be An Active Ally to the Black Community,” panelists Mernice Oliver of Mernice Oliver International and founder of the National Association for Advancement of Women in Insurance (NAAWI); Nina Boone, North American leader for Diversity & Inclusion at Korn Ferry and the former U.S. Chair of Aon’s Diversity & Inclusion Board; and American Family’s Tyler Whipple, former director of Diversity & Inclusion for the company and now chief of staff; said the insurance industry has done itself a disservice by not bringing in more people of color or elevating those already in its ranks.

They hope the current attention on this issue will be a tipping point for the industry.

“This is not going to blow over this time, and it shouldn’t blow over. This is a war on talent … there is such talent out there,” said Boone. “The number of people that are retiring in the next four years, the industry won’t be able to stand up if they don’t look at all of the talent that is available to them.”

The time has come for the industry to step up, Boone said, and the good news is many appear to be committed to doing the hard work. “This is truly about execution now. There are no more excuses. No one’s going to look away and your talent and your organization will suffer if you really don’t start executing on opening up opportunities,” Boone said. “My hope is that in 10 years, the industry – even up at the top – looks tremendously different than it does today.”