Promoting DEI in the Marine Insurance Community: IUMI’s Actionable Steps

During the International Union of Marine Insurance (IUMI) annual conference in September, the topic of diversity, equity, inclusion, and belonging (DEIB) was explored and discussed. The aim was to improve representation within IUMI and the marine insurance community as a whole. While progress has been made, with 35% of attendees being women, there is still work to be done. It was emphasized that diversity goes beyond gender and should include factors such as age, culture, ethnicity, background, education, and sexual orientation. Companies that embrace diversity and inclusion make better decisions and benefit from a range of perspectives.

In addition to diversity, it was recognized that employees must also feel included in all aspects of the business. This requires fair and equitable policies and processes to ensure equal opportunities for all. A strong sense of belonging is crucial to employee retention, and companies that foster this environment can see significant benefits such as increased job performance and reduced turnover and sickness absence. IUMI is considering various initiatives to promote DEIB, including setting clear goals and actively encouraging young people from diverse backgrounds to participate in their committees and events.

IUMI’s Executive Committee has published a DEIB statement, emphasizing the importance of diversity, equity, inclusion, and belonging in their organization. They are committed to creating a diverse and inclusive community where everyone feels represented and respected. By promoting diversity, IUMI believes the marine insurance industry as a whole will become more effective and sustainable.

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