The Million Women Mentors’ Women in Insurance Initiative (WII) is hosting its second data-collection effort and is asking for insurance companies to share information on employee demographics; diversity, equity & inclusion programs; gender parity initiatives; and opportunities for women of color.
The data will be analyzed and leveraged in a “fact-based study on gender parity and diversity” in the insurance industry, according to WII, which reported the findings will be released later this year. There are no costs involved and the initiative is open to any organization working in the insurance industry. Individual company data will be anonymous and the deadline to participate is August 1, 2022.
The organization’s first study, conducted in 2019, found a large gender disparity in pay and senior roles at insurance companies, according to WII, which reported its mission is to help the industry identify and close these gaps.
“With our inaugural data study in 2019 we established a baseline of fact-based data on gender disparity and diversity in the insurance industry, but much has changed since then and there is so much more to learn,” Barbara Ingraham, Managing Director of excess & surplus, Verisk, and member, of the Million Women Mentors’ Women in Insurance Initiative, said in a statement.
On March 24, WII will host a webinar to celebrate Women’s History Month and discuss the initiative and its importance.
“Insurance is a data-driven industry that looks to the past, present and future to manage risk. By pinpointing and understanding the current state for women in insurance, we can successfully make the critical decisions to drive and accelerate change. We need to shine the light on fact-based information — detailed and quality data across the entire insurance industry. Understanding the data will help us move forward and make meaningful change,” Margaret Resce Milkint, global insurance practice leader at Diversified Search Group and chair of WII, said in a release.
