According to a recent KPMG report, Reshaping DEI in Insurance, the insurance and wider financial sectors are not leaders in DEI. However, progress, in many tangible forms, is being made. Data collection around the metrics of social mobility, disability and neurodiversity is increasing, although still in its infancy, and greater consistency is needed. 

The report reveals that, whilst the percentage of insurance organisations implementing a diversity strategy has risen steadily since 2017, female representation is still lower across senior levels in comparison to entry levels. Ethnic representation dropped from 16% in 2017 to 9% in 2020, largely due to a fall in Black, Asian and minority ethnic employees entering firms. There has been a steady increase in the provision of support for LGBTQ+ representation in insurance companies, but only 14% have specific policies to support neurodiverse individuals at work. The adoption of an explicit and strategic approach to drive progress in DEI within the insurance industry is clearly still needed. 

KPMG collaborated with the Association of British Insurers (ABI) to conduct their report and identify the steps that will help insurance organisations to build greater diversity, equity and inclusion. The ABI Talent and Diversity survey is run annually and firms are sent a standard template to fill out, with survey responses aggregated to provide an overall industry view.