Easy, low-cost ways to improve DEI at your brokerage

Brokerages that might not have resources to embark on large-scale diversity, equity and inclusion (DEI) programs can start small by committing to change, a speaker said Tuesday during a Canadian Underwriter webinar.

“If you’re a small brokerage, maybe don’t have the resources, I think the number one thing is to make changing the situation a priority,” said Janice Gladue, chief operating officer at TIPI Group of Companies. “You are already hiring, you’re already training.

“Your company already has a culture… You need to first of all have a desire and an interest in making that committed investment, even if it’s just energy and focus,” Gladue said during the webinar, The inclusive brokerage: Tactical DEI strategies for P&C firms.

Webinar panellists shared their opinions on the findings of a Canadian Underwriter research survey, which found 31% of respondents described their organization as ‘leading’ in making DEI a core principle that’s supported by best practices. That’s 6% lower than was seen in the 2022 survey. The online survey, fielded in Jan. and Feb. 2023, and made possible with the support of Sovereign Insurance.

Once the commitment’s there, panellists noted, brokerages can then identify gaps and look at how to improve.

For example, look at when HR policies were written and if they’re up-to-date. “Can the language be massaged, [adjusted] and prepared for when people of different ethnicities, religious backgrounds, gender, family orientation levels, physical or mental ability, are in our organization?

“We don’t have diverse religious backgrounds within our organization but our policies are prepared for that,” Gladue said. “In terms of how we message [parental] leave, we’re already projecting that we’re going to have different types of families within our organization, and we’re prepared…”

Firms should also communicate that anti-discrimination policy through a statement of the organization and have it written down, added Craig Pinnock, chief financial officer of Northbridge Financial Corporation. “Have you established a mechanism that allows people at risk to bring to the attention of executives [any] issues and concerns?”

Another possibility is creating recruiting or interim partnerships with other diverse organizations, Pinnock said. “These are the things that don’t require a ton of money.

“These are things that are relatively easy to do as a starting position. You have to continue the journey – you don’t get to take one step and stop. But if you don’t take that first step to codify some of these things, I think you’ve lost an opportunity.”

Another panellist agreed that partnering with diverse organizations is important.

“It doesn’t cost a lot of money to get involved with organizations inside the industry like the Canadian Association of Black Insurance Professionals, the Canadian Chinese Insurance Professionals Association or Link,” said Christopher Aloussis, co-chair of Link Canada – 2SLGBTQ+ Insurance Network.

As an Indigenous-led organization, Gladue said, truth and reconciliation is important. So, the insurance company not only has internal initiatives, but extends them externally.

“One of the things that we’ve mentioned before is around leveraging content that’s already been created,” said Sovereign Insurance chief operating officer Colette Taylor. “Not having necessarily one champion for everything, but get a crew together and [take a] divide and conquer approach.

“But more importantly it’s a mindset that it is part of your job, part of your work to be advancing this.”

Feature image by iStock.com/PeopleImages