From: Captive International
The captive insurance industry has become far more diverse than it used to be – but there is still further to go if it is to ensure it is fit for purpose and attracts the talent it needs in the future.
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.