/

Giving Forth: Insurers Lead National Effort for Social Well-Being

Insurance Industry Charitable Foundation Releases Millennial Ideas Summit White Paper

We prefer “Giving Forth” to “Giving back,” although they mean the same thing, charitable contribution by insurers to our society’s well-being in this case.

The Insurance Industry Charitable Foundation (IICF), a nonprofit organization working with the insurance industry “to help communities and enrich lives,” held its Key Partner Company Philanthropic Forum in New York, an annual gathering of representatives of IICF’s Key Partner Companies and national media. Insurance Advocate® was pleased to participate.

Established in 1994, IICF has served as the philanthropic foundation of the insurance industry for more than twenty-five years, contributing over $31 million in community grants along with 300,000 volunteer hours by more than 110,000 industry professionals. IICF reinvests locally where funds are raised, serving hundreds of charities and nonprofit organizations, for maximum community impact. IICF is a registered non profit organization under section 501(c)(3) of the IRS code.

Representatives of many IICF Key Partner Companies, including AIG, Aon, Assurant, AXA XL, Chubb, CNA, EY, Farmers, HUB International, Munich Re, The Hartford and Zurich, gathered in NYC to discuss insurance industry philanthropy

According to the press statement issued by the Group, senior industry executives, insurance industry partners such as the Insurance Information Institute, and the charitable foundation leaders and corporate social responsibility specialists of the IICF Key Partners meet to present to colleagues and media on the significant and varied ways the insurance industry is giving back to the communities where we live and work. This includes hundreds of thousands of hours of global employee volunteerism, pro bono, and skills-sharing support to nonprofit organizations, disaster response, relief and recovery, employee-driven outreach in local communities and many other creative corporate social responsibility initiatives”.

IICF Key Partner Companies are those with Board of Directors representation across three or more of IICF’s five divisions, along with serving on the IICF International Board of Governors. The following Key Partners were represented at this year’s IICF event: AIG, AON, AXA XL, Assurant, CHUBB, CNA, EY, Farmers Insurance, HUB International, Munich Re, The Hartford, Swiss Re and Zurich. The 2019 IICF Key Partner Company Media Day was hosted by CHUBB in their Manhattan office.

“It was a privilege to observe each of these companies presenting on their significant philanthropic initiatives,” said Barbara Bufkin, Chair, IICF International Board of Governors and Assurant, Executive Head of Business Development. “And while individually impressive, what is truly unique is their collaboration in leveraging their own corporate social responsibility campaigns for scale and scope within the IICF, our industry’s philanthropic foundation.”

Peter Tucker, Regional Executive Officer, Chubb and Member, IICF Northeast Division Board of Directors, welcomes guests to Chubb’s Manhattan offices for 2019 Media Day

IICF’s Media Day also featured the release of a new white paper that documents the findings of IICF’s Millennial Ideas Summit. Convened in late 2018 with more than 50 young leaders and emerging talent from across the insurance industry, the Millennial Ideas Summit provided a platform to discuss several key topics and challenges facing the industry. These included talent and recruitment of millennials in the insurance industry; technology, innovation and change; and social responsibility, particularly the industry’s philanthropic response following natural disasters.

MarshBerry documented the insight gleaned at the IICF Millennial Ideas Summit in a new white paper: What Millennials Want, How are we engaging the millennial workforce and showing what it means to work in the insurance business. This distinctive white paper explores many timely themes and ideas expressed by representatives of the millennial workforce, one of the most diverse workforces ever, including:

• As the insurance workforce ages, the industry needs to actively engage more young people in what it means to develop and enjoy an insurance career – and how does the industry connect with millennials to show the pathway to insurance positions that offer the qualities they’re looking for: flexibility, empowerment, career advancement, social responsibility and independence;

Shawn Kahle, VP, Corporate Responsibility & Community Engagement and Executive Director, Assurant Foundation, presents to the group on Assurant’s philanthropic programs

• How businesses gear up and develop a culture that welcomes and drives change, helping the industry work smarter through innovation – an area where younger people can contribute greatly;

• How should the industry be perceived to attract millennials – diverse, genuine, versatile, modern, caring, tech-savvy, recession-proof, empathetic and purpose-drive were just some of the ideas;

• Communicating to the younger workforce that insurance is a business of service and one that helps people in their times of need – corporate social responsibility is critically important to millennials, who want opportunities to give back and make a difference through experiences and grassroots ways to get involved in helping.

“MarshBerry concludes the white paper by reminding us that the insurance industry is on the cusp of a grand evolution. The industry can change and embrace the fresh, inspired next generation and become better organizations for it. Learn more in What Millennials Want, How are we engaging the millennial workforce and showing what it means to work in the insurance business for further insight and analysis,” the IICF noted.