Charitable Giving in 2021: A Year of Rising to Meet New Challenges

Bringing people together to help others has historically been a defining focus for charitable giving and volunteerism in the insurance industry. Though getting involved has become more complicated over the past year and nine months due to the COVID-19 pandemic, the industry’s support for those in need has not waivered.

At the Insurance Industry Charitable Foundation (IICF), we see our role as that of a convener, bringing people together to discuss, advocate and advance critical issues shaping our industry, while also supporting the welfare of others through volunteerism and philanthropic measurement. From this unique perspective, we can see that, while the COVID-19 pandemic hampered our ability to meet face-to-face, it hasn’t limited philanthropic and volunteer opportunities. Instead, it has inspired additional giving and stimulated creativity in the ways we interact, volunteer and help each other. That’s because people learned that they could give their time and talents from their home or wherever they are and still make a profound impact.

The state of philanthropy across our industry is strong and thriving — fueled by new energy from fresh faces and old friends.

While I don’t have specific numbers to share at this stage, we are seeing charitable giving across our industry continue to increase in 2021. IICF’s numbers alone show evidence of that. For example, our grant figures are healthy, leading to the aid of more than 30 programs, such as Feeding America, through the IICF Children’s Relief Fund in 2020 and 2021. Additionally, participation in this year’s IICF Week of Giving was quite robust, funds raised and attendance for our 2021 Northeast Annual Benefit Event have exceeded the most recent pre-pandemic year, and our campaigns, such as the Fill the Truck food drives have expanded to cover new territory where we had not previously had a presence. To top it all off, we’ve also seen additional board members step up, with dozens of new companies represented on IICF boards, bringing our total board member support to more than 600. That figure alone says a great deal about the heart and generosity of our industry.

DEI, CSR and ESG Are Complementary

As we reflect on 2021 and look to 2022, we also see that diversity, equity and inclusion (DEI), corporate social responsibility (CSR), and environmental, social and corporate governance (ESG) will continue to be priorities. This was demonstrated during the IICF International Inclusion in Insurance program when 1,500 people from eight countries gathered virtually for three days of growth, exploration and forging new pathways toward a fully inclusive future.

The forum allowed us to have important conversations about how to develop diversity and inclusion, equity, accessibility, innovation and wellness initiatives, effectively mobilizing the industry as a positive force for the future of work and society. Conversations echoed IICF’s belief that DEI, CSR and ESG are complementary. CSR, for example, goes beyond doing the right things. It’s about positioning everyone in the industry to be accountable as individuals and as organizations. ESG encompasses more than just environmental consciousness. It includes how we assess our strengths and weaknesses in dealing with social trends, and how that relates to the way we manage our employees, represent our industry and give back to our communities.

A Continued Presence in Our Communities

While the industry rolled up its collective sleeves to brainstorm new ways to create a brighter future for insurance giving in 2021, we didn’t lose sight of present needs in the communities where we live and work. Companies across the industry continued to get creative to find ways to serve their communities on their own and through IICF.

For example, the industry’s desire to provide hunger relief led to 3,000 people in 13 countries participating in our second annual International Step Up Challenge, a six-week exercise challenge that promotes health, well-being and team-building and benefits the IICF Children’s Relief Fund.

Further, industry interest in the IICF’s Children’s Relief Fund continues to stay strong. This fund helps combat ongoing food insecurity in both the U.S. and the United Kingdom. The efforts of our industry led by IICF helped Feeding America serve 768,028 meals to the School Pantry Program, which works to alleviate child hunger.

As people looked for new ways to give back virtually, IICF created a Virtual Volunteering Guide on our website, highlighting options for industry professionals to volunteer while wearing masks and respecting social distancing guidelines.

What’s Next?

Speaking for IICF, the high level of interest in charitable giving has inspired us to explore how we can better represent the entire industry in 2022 and beyond. While the way we gather and give is far different now than pre-pandemic, the work we do remains the same. Thank you to the industry for embracing its noble purpose to serve those in need. And thank you for trusting IICF to be the voice that creates this sense of wellness for thousands of industry members and communities throughout the U.S. and UK.