Diversity & Inclusion – Industry Wide Study Brokers Ireland & Insurance Ireland
Wed May 26 2021
Last year the Central Bank of Ireland highlighted Diversity and Inclusion (D&I) as an important focus, stating that “a lack of diversity at senior management and board level in organisations is a leading indicator of elevated behaviour and culture risks, and consequently prudential and conduct risks”.
To gage how the insurance industry are doing in this area Brokers Ireland and Insurance Ireland conducted an industry wide survey across 174 brokers and 56 insurance companies in February 2021 which focused on gender, ethnicity, nationality, and age.
Some of the key findings of the report are as follows:
- 51% of senior leaders in the sector are women (Director level for Brokers Ireland companies and Board, C-suite for Insurance Ireland members)
- 73% of the surveyed workforce are Irish, with the rest of Europe accounting for 23% and outside of Europe 4%
- 27% of respondents have an active Diversity & Inclusion (D&I) strategy in place
- 39% of the respondents said that D&I is a Board and Executive agenda item
- 14% of respondents have either a full or part time D&I resource in place
Diversity and Inclusion (D&I) is an important issue for our society and we appreciate Insurance Ireland partnering with us on this survey. The potential productivity gains from a successful D&I strategy should make all business owners alert to this issue and will ensure it will form a key component of business planning into the future.