The path to leadership roles can be complex - particularly for those from minority backgrounds.
The importance of mentorship in this process cannot be overstated, as it serves as a crucial bridge over the barriers that ethnic minority professionals in the industry often encounter.
These barriers can range from a lack of representation to unconscious biases that can hinder career progression. Through mentorship, seasoned professionals can provide help, guidance and support to mentees, helping them navigate these challenges and carve out successful career paths in the insurance industry.
A mentor is a person who can support, advise and guide you. They typically take the time to get to know you and the challenges you’re facing and then use their understanding and personal experience to help you improve.
This relationship is additional to a manager or boss and benefits from a more personal and confidential structure
Kishan Mangat, Co-Chair of iCAN stated it as “Ethnic minority professionals often face unique barriers in the industry, such as lack of representation and unconscious biases. A mentor can provide support and guidance as mentees navigate these challenges and help them find solutions to overcome them. They can provide guidance and support as mentees develop their careers, helping them identify their strengths, set goals, and develop the skills they need to succeed. They can also provide feedback and advice on important decisions, such as choosing career paths or seeking promotions.”
Another great benefit of mentorship is that it can open doors to networking opportunities, helping to connect mentees with influential figures in the industry and facilitating introductions to key decision-makers that can boost their professional network. These connections can be pivotal for career development and can provide insights and opportunities that might otherwise be impossible for the mentee to achieve on their own – and something I’ve benefitted from for years.
Felix Wong, Diversity & Inclusion Consultant at Allianz says, “In my experience, mentors have the ability to share their wealth of industry knowledge and expertise with mentees, helping them understand the insurance industry and its workings. This is particularly valuable for those who are new to the industry or who are looking to expand their skills – and with the so much talent leaving the industry, it’s paramount we harness their knowledge for the future of the industry.”
Despite the many benefits it can offer, mentorship in this post-pandemic world needs to evolve to meet the unique needs of Gen Z workers entering the insurance workforce. Recent research from Indeed highlights a worrying trend: 82% of Gen Z respondents have never worked full-time in an office environment, while 85% are concerned about their disadvantage in networking, learning and career progression. It's clear that mentorship must adapt to offer more support in building workplace relationships and providing access to senior leaders.
Enam Islam, iCAN Manchester Lead says “However, it's essential to acknowledge that the traditional mentorship model may not fully address the developmental needs of new entrants to the workforce. From our perspective, the insurance industry must innovate mentorship practices to ensure they are inclusive, accessible and responsive to the challenges faced by minority professionals and the Gen Z workforce.”
Recognising the power of mentorship at iCAN, we recently relaunched our INspire mentoring platform which seamlessly connects industry members with mentors tailored to their specific needs. Whether seeking short-term guidance or long-term support, INspire matches mentees with experienced professionals ready to share their wisdom and experience. With over 100 senior employees and leaders already committed to mentoring, the INspire platform is a testament to the industry's commitment to fostering the next generation of leaders.
One of our members, Claudia Critchley from Aviva told us following meeting a mentor through the iCAN INspire platform, “So far mentoring has been one of the best experiences I have had in my working career. My mentor and I have held a number of virtual meetings where we have discussed a range of topics including personal goals, what I want to achieve and how to improve self-belief. We have had general catch ups, discussed ways I can challenge myself more and generally accept that we all have a role to play, sometimes we make mistakes, we learn from them and move on.”
Mentorship is a vital cornerstone of professional development within the insurance industry, helping individuals overcome barriers and advance their careers while also ensuring the industry continues to thrive with a diverse and skilled leadership pipeline.
As leaders in diversity, equity and inclusion, we have a responsibility to champion mentorship initiatives, ensuring every aspiring professional has the support they need to succeed.
To learn more about iCAN, visit www.i-can.me
