Feb 26, 2024

Paving the way for a more equitable future

Have you Considered Diversity, Equity, and Inclusion as a Factor in Choosing Employee Benefits Providers?

In the contemporary corporate landscape, the call for Diversity, Equity, and Inclusion (DEI) isn't confined to internal operations; it extends to external partnerships, including benefits providers. As THE Premier Multinational Pooling Network, the Insurope Network is proud to share that its Network Members continue to prioritize DEI efforts across the globe and have been recognized for their efforts. Across every region, we see Network Members continually evolving their efforts and many have been presented awards as a result.

As companies navigate the terrain of selecting Employee Benefits providers, integrating DEI considerations into the decision-making process is becoming increasingly imperative. It’s not just the right thing to do; it can benefit your own efforts and it feels great at the same time! Here are just a few of the benefits:

Aligning Values

Partnering with benefits providers that prioritize DEI mirrors a company's commitment to fostering inclusive cultures. By selecting providers who embody these values within their own organizations, companies demonstrate authenticity and consistency in their approach to social responsibility.

Talent Attraction and Retention

Employees are not only drawn to companies with robust DEI initiatives but also to those with aligned service providers. A study by Mercer revealed that 72% of employees consider the diversity and inclusion practices of a company's suppliers when evaluating potential employers.

Demonstrating Leadership

Companies can showcase leadership by prioritizing DEI in their selection of benefits providers. By championing inclusive partnerships, organizations send a clear message to stakeholders about their commitment to driving positive social change beyond their internal operations.

Mitigating Risks

Working with benefits providers that prioritize DEI can help mitigate risks associated with discrimination or exclusion. Instances of non-compliance with DEI standards by service providers can reflect poorly on client companies, leading to reputational damage and potential legal liabilities.

Enhancing Supplier Diversity

Choosing DEI-focused benefits providers contributes to the advancement of supplier diversity initiatives. By engaging with diverse suppliers, companies promote economic inclusion within the business ecosystem.

Inclusion in Action

Insurope works with many premier insurers so that employers know their partners are not just offering great benefits, they are aligned with their organizational values. Some examples of Insurope Network Member efforts across the globe include:

Our Network Member in South Africa, Sanlam, has been recognized as a Top Employer in South Africa for 7 consecutive years. The organization is a strong supporter of its people stating, “we want to foster an inclusive, high-performance, and agile, Winning as One culture that drives accountability, collaboration and exceptional client and employee experience.” In addition to supporting employees, among its many efforts is a strong financial inclusion effort, which is tracked through access to financial services, use of financial services and quality of product and service delivery. This important effort helps countries build inclusive economic sectors, especially for the previously marginalized members of the community.

In the Americas region, our Network Member in Mexico, GNP Seguros, also has been recognized as a top employer—with its inclusion efforts playing an important role in the distinguished award. For the third consecutive year, GNP was certified as a Top Employer company in Mexico. The company stated that it is very proud of its employees for their passion, commitment and effort that has allowed GNP to stand out as a company in this world-class certification: by executing good practices in terms of inclusion and diversity, among others.

In Asia, an example of the great commitment to DEI is demonstrated through our Network Member in Japan, Asahi Life. The organization has adopted "heartfelt service" as its basic management philosophy, with the basis of corporate activities being to fulfill its responsibilities to "customers," "society," and "employees." The company has proudly stated its dedication to, “improving employee satisfaction through creating a workplace where people can grow and where it is easy to work." One of the company’s efforts includes actively promoting the employment of people with disabilities. Through the effort, Asahi Life aims to create a workplace where everyone can demonstrate their full potential and share the joy of working, regardless of whether they have a disability.

In Europe, our Network Member in Belgium, AG has been awarded the coveted Top Employer label for the 12th year in a row. It’s an achievement that AG and its 4400 employees are proud of! One of the key areas that have fueled the award is DEI. The company shares, “In the field of diversity, equity and inclusion (DEI), AG is making great progress. Partly thanks to the DEI week: a whole week full of activities, lectures, and workshops at the office on this theme.”

In essence, integrating DEI considerations into the selection of benefits providers is not just a matter of corporate social responsibility; it's a strategic imperative. By choosing partners with a shared commitment to diversity, equity, and inclusion, companies amplify their impact, strengthen their brand, and pave the way for a more equitable future.