WASHINGTON (February 2, 2021) — The National Association of Insurance Commissioners (NAIC) demonstrates its commitment to advance diversity and inclusion efforts by sharing its internal Diversity, Equity, and Inclusion (DE&I) framework. The NAIC's employees and leadership developed this framework collaboratively to drive change, promote accountability in its workplace, and offer the insurance sector a model to build similar programs.
“We approached this initiative with humility and a commitment to listening, learning and facilitating conversations within our organization and across the insurance sector to develop a thoughtful, actionable plan,” said NAIC Chief Executive Officer, Mike Consedine. “We are pleased to share this plan and report on our progress as we continue our journey to build a diverse and inclusive workplace.”
The NAIC recognizes that making progress with DE&I is a journey of cultural change. That is why the NAIC plan is made up of immediate and longer-term initiatives designed to build and foster a diverse and inclusive culture where employees are encouraged to share their authentic selves. The plan focuses on four key areas: the workforce, the workplace, supporting our members, and our community:
Hiring a diverse workforce requires the involvement of leadership and all employees. The NAIC has begun implementing strategies and tactics to improve the process, including evaluating job descriptions for bias, creating recruiting materials that appeal to a diverse audience, and training hiring managers and employees about how to articulate the NAIC’s commitment to a diverse workforce.
An inclusive workplace that engages the diversity of backgrounds and perspectives of its employees increases its ability to innovate and serve the public. At the NAIC, we are taking action to create a working environment where individual differences are intentionally embraced. The NAIC DE&I Council is generating awareness, creating platforms to share stories, and hosting monthly events to encourage colleagues to understand and appreciate the value of diversity and the importance of creating an inclusive environment. Additionally, the organization plans to pilot employee resource groups to build a high performing and inclusive organization.
In 2020, insurance commissioners formed a special executive committee to address issues related to race and insurance, including a workstream specific to the NAIC and its members. Through the NAIC, the commissioners conducted research and held public forums to foster understanding and address concerns. The NAIC has reported on its DE&I framework and committed to being transparent and open on its transformative journey. “We intended to lead by example,” said NAIC Chief Operating Officer, Andy Beal. The NAIC is also steadfast in its commitment to providing ongoing support to our members as they seek to drive change across the sector.
We are committed to expanding our outreach efforts by supporting our DE&I Council efforts to work with organizations committed to helping under-served communities by educating marginalized communities within the insurance industry.
In 2021, the NAIC is celebrating its 150th anniversary as a standard-setting body. “We see our commitment to DE&I as part of our legacy for the next 150 years,” said Consedine.