Professional services solutions provider Davies is ramping up its diversity, equity, and inclusion (DEI) efforts with a new initiative for the insurance industry.
The firm is teaming up with the Insurance Cultural Awareness Network (iCAN) to introduce Talent Strategy Workshops aimed at iCAN’s sponsoring firms. These complimentary two-hour sessions are designed to aid in the recruitment, retention, and development of a diverse workforce.
This initiative allows participating companies to access an unlimited number of workshops throughout their annual membership. The program is led by Ajay Mistry, co-founder and co-chair of iCAN, and Carolyn Blunt (pictured), VP of Davies Academy, with the goal of identifying and nurturing the next wave of talent within the insurance and financial services industries.
In a column for Insurance Business, Mistry reiterated his commitment o DE&I, explaining that it will be integral in 2024 to reflect on progress and plan ahead for a more inclusive industry.
In addition to the workshops, iCAN sponsors can also organise their own sessions through iCAN Connect Sessions. This includes a network leaders workshop for multicultural employee networks or employee resource groups, which are aimed at fostering a more inclusive workplace culture. An executive workshop is also part of the offering, which focuses on enhancing a firm’s leadership on multicultural inclusion.
“We are delighted to partner with Davies as we continue to improve talent attraction and inclusion throughout the insurance industry,” Mistry said. “Through our iCAN initiatives, we are committed to promoting the visibility and access of career development opportunities for multicultural and ethnic minority talent.”
Blunt added: “Through our partnership with iCAN, we are working to improve the opportunities offered to workers no matter their ethnicity, gender, age, or background. A diverse workplace is an important aspect in creating role models and leaders with varied backgrounds inspiring new approaches and ways of working to the industry to support customers and colleagues alike.”
Davies also noted that companies with diverse leadership teams have seen a 19% increase in revenue, are 35% more likely to surpass their competitors, and are 1.7 times more likely to be innovation leaders in their field. A diverse workforce also enhances customer relations and broadens the candidate pool for new job openings.
Despite progress, Davies also noted that the insurance sector still trails behind other industries in DE&I.
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