With data showing natural disasters are on the rise, climate change is here, and it is real. Meanwhile, marginalized and underserved communities are increasingly facing disproportionate impacts from natural disasters. These communities also receive disproportionate relief and assistance following the aftermath of disasters, as a result of systemic and socioeconomic…...
Dismantling Bias: Unconscious Bias Training for a Fairer Insurance Industry
Racial bias is one of the reasons African Americans pay more for insurance while facing debt collection at high rates. A study by the Consumer Federation of America shows that insurance premiums are 70% higher in communities where African Americans make up at least three-quarters of the population than in…...
From Classroom to Boardroom: Strengthening Insurance Education and Career Opportunities for Students of Color
Increasing career opportunities for students of color should bring together policy makers, non-government organizations, educational institutions, and individuals if the goal is to create inclusive and equitable workplaces, educational landscapes, and communities in America. With equal access to quality education, students of color can secure a plethora of job opportunities.…...
Inclusive Insurance: Addressing the Needs of Underserved Communities
The insurance market, while it remains widespread across the U.S., isn’t fully inclusive. The racial and financial gap in the insurance realm caused by various reasons cannot be ignored. According to Life & Health Insurance Inclusion Radar, affordability and accessibility are the two main reasons behind insurance exclusivity. That said,…...
Overcoming Obstacles as a Young Black Entrepreneur
African Americans have made significant contributions to the business landscape globally. Unfortunately, the road to success for black entrepreneurs has several obstacles. While the number of black-owned businesses has increased, black entrepreneurs should contend with very tough barriers. For instance, even though funding is a standard challenge for small businesses,…...
Fostering Success for Black Business Owners
Black business owners often have to overcome big odds in their desire to achieve the American dream. Fortunately, they can count on the support of some forward-thinking individuals and institutions to overcome these barriers. What are the most pressing challenges that black-owned businesses face, and how can they overcome them?…...
Encouraging Diversity and Equity in Your Company’s Leadership
Despite the constant calls for diversity and equity in companies, it is unfortunate that most companies, including those offering financial services and insurance, are still behind in their representation. Studies by McKinsey & Company show that Black professionals in senior managerial positions only make up 4% of the workforce. Given…...
Helping more African Americans thrive in the insurance industry
African Americans are generally underrepresented in the insurance industry. According to a recent report, only 13 percent of workers in the industry are African American. But with rising calls for diversity, the industry has made some progress in employing and promoting more people of color in recent years. So, how…...
Creating a more inclusive culture in insurance: best practices for companies and employees
Many companies in the insurance industry are actively working to diversify their workforces and foster inclusive work environments by launching company-wide initiatives, internship and recruiting programs, employee resource groups, and community outreach activities. Here are some best practices for companies and employees to build a more inclusive workplace culture. Make…...
The role of mentorship in the success of African American insurance professionals
Individuals with mentors are six times more likely to be promoted than those without mentors, promoted five times more often, and 20 percent more likely to receive a pay raise, human resources experts at Sun Microsystems found. There’s no question that the corporate landscape requires talented and passionate individuals. And…...
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