Diversity and equality

Findings from Embroker indicate that startup founders are shifting their focus to managing risks surrounding reputation and social responsibility.

Digitizing helps life insurers reduce costs, expand outreach and accessibility, and inform underinsured populations.

Chubb, State Farm, Travelers, USAA among the insurers on the list.

More than 32,000 tech sector workers in the U.S. have been laid off in 2022.

Sara Axelbaum, global head of inclusion and diversity at MiQ, delves into how her company eliminated the gender pay gap across almost every salary band.

There is a gaping hole in the financial system in North Minneapolis, where people are preyed upon by payday lenders and fringe bankers, according to Debra Hurston, executive director of the Association for Black Economic Power. Hurston is creating a credit union for this community to help break residents out of a cycle of exploitation and debt. But the issue is far bigger than one city, and the opportunity is one that any bank or credit union can seize.

Shortly after the partnership was made public on Twitter, State Farm abruptly reversed course.

Progressive, Mutual of Omaha, New York Life, Unum and others make the list.

Onuu, a startup banking, credit and life insurance platform, is preparing to launch this summer.

Also: Ethos’ chief underwriter, SE2’s new CEO.

Many insurers anticipate an accelerated economic recovery, which can lead to additional digital technology investments in 2022. However, the challenges companies both big and small are facing due to a volatile risk environment continue to be both hurdles and motivators towards technology adoption. One of the pieces to help overcome these hurdles is talent.

Mike Kreidler has adopted a temporary rule banning insurers from using credit information to set auto, homeowner and renters insurance rates. Kreidler initially issued an emergency rule in March 2021 but it was struck down by a court last year. The new rule goes into effect March 4.

In other news: Online embedded insurance, Bubble launches; Obie partners with Munich Re company; Nintex, Insuresoft team up on digital transformation.

Despite BLM, #MeToo and other movements for equality and justice, employers don't understand enough about the impact of neglecting DEI on company health.

Results published Monday show that 46% of White people are working with professionals to plan their finances, while 38% of African Americans, 36% of Asian respondents and 44% of Hispanic people are doing the same.

In other news: Hippo launches Builders Program; handdii wins the 2021 ACORD Insurtech Innovation Challenge New York; Blockchain-backed title insurance launches in five states.

Lloyd’s of London, the world’s largest insurance exchange, is pushing the industry to do better on diversity recruitment with tougher new hiring and disclosure targets for its members.

Challenge comes with increased awareness of structural racism in financial services.

Chief service officer Jamie Lee says insurance needs diverse views to create the best overall customer experience.

Advisors may sometimes overlook clients with special needs, despite the size of the community and available tools like ABLE Accounts.