On September 28, InsurTech Hartford, and leadership from The Hartford will bring leaders from the insurance community together in Connecticut's capital to discuss the ways in which diversity, equity and inclusion (DEI) are vital to our ability to efforts to support innovation.
We are thrilled to take part in this conversation -- for a second time. At a similar event last November, insurance industry leaders shared their views on why DEI is essential to innovation and business success. Engaging and expanding opportunities for talent is a central part of strategy to make the city the best place on the East Coast to start or scale a business.
Below are excerpts from some of the key themes raised during last November’s discussion. We also hope that you’ll check out this blog written by one of the event’s organizers, Dan Campany, VP Innovation & Head of IoT at The Hartford.
Driving diversity in innovation
Karmela Malone serves as both Senior Vice President of Claims Solutions at The Hartford and the President of the Hartford Chapter of the National African American Insurance Association. She helped open the discussion by underscoring the importance of intentionally increasing the diversity of talent that looks to the insurance industry as a meaningful career opportunity.
How do we attract the talent that we need?
Every organization seeks the very best talent. But what can companies do to help make themselves the employer of choice for that talent? Michael Kearney, Vice President Emerging Technologies for The Hartford, shares how he thinks about his position on the global playing-field for talent, and what he thinks is needed to help recruit and retain diverse, and highly-skilled talent.
How are both diversity and inclusion achieved?
Cheryl Rosario, Head of DE&I and CSR at MunichRE, pointed out that often times the first step towards developing best practices starts with a simple shift in mindset. What is it about our operating principles that creates challenges and barriers to entry for large portions of the workforce? It's pertinent that we start focusing on the cultural add, instead of the cultural fit.
What does promoting diversity and inclusion look like in practice?
Promoting diversity, equity and inclusion is becoming a priority for many companies, but embedding it as a practice takes intention, and consistency in all aspects of daily operations. Travelers’ SVP Personal Insurance Strategy, Beth Maerz, points out that purposeful choices, often make the difference.
Can I get into innovation without having a technical background?
During the conversation, technical aptitude and experience was identified as a potential barrier to entering the field. The question was posed, is there room in the field for innovators with non-technical backgrounds? Aditi Baker, VP Data Science at The Hartford shared how she thinks about the talent that she needs for success, and is trying to broaden the pool of talent drawn to opportunities on her team.
Can I work in insurance without industry experience?
Tandeka Nomvete, Director, Spencer Educational Foundation pointed out that insurance is a field that many young people know little-to-nothing about. And, without exposure to the industry, or first-hand knowledge about what insurance companies do, and how they do it, lots of talented individuals self-select out of the field. She urges emerging talent to re-consider the assumption that you have to have previous experience in the industry, in order to be considered a valuable asset to insurance companies.
Besides diversity, how do you create a culture of inclusion?
Developing and maintaining a culture of inclusion requires many different types of management practices. Beyond the assembly of a diverse team, Covr CEO Mike Kalen shared the way that he helps motivate employees to support each other in shared wins.
