From: Captive International

That was the message from a panel at opening session of the Day Two of the 2024 Captive Insurance Companies Association (CICA) annual conference.

The panel comprised: Jennifer Allen, director, Insurance & Risk Solutions, IFO Group; Kirsten Bay, chief executive of Cysurance; Renea Louie, chief operations officer, Pro Group Captive Management Services; and Kevin Yousif, president, Yousif Capital Management.

The panel agreed that diversity is more than just a trendy buzzword – when businesses have diverse teams they reap the benefits of higher profitability, greater innovation, better decision-making, and more engaged employees.

However, while the positive impact of workplace diversity is well studied and documented, companies still struggle to get it right due to challenges in hiring and a lack of understanding of exactly what creates diversity.