WSIA DIVERSITY FOUNDATION
THE WSIA DIVERSITY FOUNDATION was founded in 2020 as a 501 (c)(3) charitable organization. Its founding came after the WSIA Board of Directors identified enhancing diversity in the wholesale, specialty and surplus lines segment as a strategic initiative in 2019, with financial support from WSIA member firms and individuals committed to bringing the initiative to the forefront. Since its launch in 2020, the Diversity Foundation has received pledges and contributions totaling $3.6 million from WSIA member firms, individuals and the WSIA Education Foundation.
WSIA DIVERSITY FOUNDATION MISSION STATEMENT
The WSIA Diversity Foundation, founded in 2020, promotes diversity in areas including, but not limited to, race, gender, disability, and the LBGTQ+ community, and influences meaningful progress in the diversity of the wholesale, specialty and surplus lines insurance industry and its talent pipeline. The Foundation offers tools and resources to help WSIA member firms, and their employees, with ongoing learning to promote diversity, equity and inclusion in its broadest sense to enhance their diversity, equity, and inclusion journey.
THE FOUNDATION STRIVES TO:
• Promote diversity and inclusion with the larger, unified voice of the entire insurance industry;
• focus energy and purpose to influence meaningful progress in the diversity of the insurance industry and its talent pipeline;
• coordinate programs to promote diversity, develop inclusive workplace cultures, and attract diverse talent to the insurance industry; and
• foster synergy among the diversity programs and initiatives of a large number of industry participants.
WSIA DIVERSITY FOUNDATION INITIATIVES
Talent Outreach Initiatives
• Presentations to 715 students through informational sessions promoting insurance career opportunities at five colleges and INROADS; a 197% increase over prior year.
o Diversity Talent Outreach and Diversity Internship Committees visited Hampton University, University of Texas at San Antonio, Fisk University and Motlow Community College.
• Hosted 14 Diversity Foundation Interns to work with a WSIA member firm for nine weeks.
o Interns come to the program without RMI experience.
o Top six interns attended Annual Marketplace; top two interns were selected to participate in the 2024 WSIA Internship Program, receive an additional $2,500 scholarship, and shadow industry leaders.
• Supported Gamma Iota Sigma (GIS) as a Sustaining Partner in its work to cultivate a more diverse talent pipeline for the industry. Brady Kelley, Vanessa Sims and Vanessa Sims serve in volunteer capacities for GIS.
• Became a Founding Partner of the new GIS Foundation, whose mission is to ensure equitable access to careers in insurance, risk management and actuarial science by lowering social and financial barriers for all students, regardless of background or means. Vanessa Sims serves in a volunteer capacity.
Member-Focused Talent Retention and Inclusive Culture Initiatives
• Continued partnership with Blue Ocean Brain, a microlearning platform that makes short, interactive videos, games and DE&I lessons available to members.
o Increased number of licenses to 1,350; an 800% increase over the prior year.
o Increased number of lesson views to 10,328; a 33% increase over the prior year.
• Sent twelve monthly DE&I e-Newsletters to all WSIA members with a 32.2% open rate.
• Increased The Diversity Foundation’s LinkedIn engagement to 650 followers; a 128% increase over the prior year.
• Offered five webinars to members including Becoming an Inclusive Leader, Seven Essentials for Psychological Safety, The Empathy Advantage, Disability Inclusion Awareness and National Veterans Chamber of Commerce Veterans Radio Show.
o Webinars were viewed by 800 participants.
o Recordings remain on the WSIA website to view on demand.
• Held four DE&I Practitioners’ Forum Meetings, offering a place for practitioners to share best practices to increase employee engagement in DE&I programs and address common challenges.
o 120 member firm professionals participated.
• Developed Mentorship Resource Suite
o 15 individuals from seven member firms were certified to deliver in-house mentorship workshops for mentors and mentees.
o Custom discussion guides and webinars are available on the WSIA website.
o Mentor relationship guidance was offered for interns and their mentors to support their relationship for the summer and beyond.
o Hosted a mentorship panel discussion during Annual Marketplace with 30 attendees.
• Sponsored the NAIC’s 3rd Annual Diversity, Equity and Inclusion Conference.
Board and Association Governance Initiatives
• The Diversity Foundation Board engaged in DE&I training on, Managing Power for Inclusion, Managing Privilege for Equity, Cultivating Diverse Environments and Making a Personal Commitment.
o A strategic discussion followed to determine key areas of focus to help operationalize the WSIA Diversity Statement.
o As a result, the Foundation drafted and implemented revisions to three existing and four new policies. The policies help operationalize the WSIA Diversity Statement.
o Revised policies: Nominating Committee and Board Selection Strategy and Framework, Privacy Policy, Meeting and Programs Code of Conduct.
o New policies: Meetings Accessibility, Gender-Neutral Restroom, Religious Holiday Observances, Supplier Diversity.
• WSIA committee volunteers participated in online training to address unconscious bias in our interactions and decision-making.
• Member firms were offered the opportunity to acknowledge and support the WSIA Diversity Statement.
o 13 member firms have signed on to acknowledge their commitment.
WSIA DIVERSITY FOUNDATION BOARD OF DIRECTORS
2023 DIVERSITY FOUNDATION ROADMAP MILESTONES
Student and Talent Outreach
• Expand outreach efforts to Hispanic Serving Institutions (HSIs).
• Enhance digital, campus, sourcing and industry partner approach.
• Further synchronize internship programs.
Member-Focused Inclusive Culture
• Facilitate complex/difficult DE&I conversations across the membership.
• Equip firms with mentoring resources.
• Increase the availability of online educational resources.
• Build a bias mitigation toolkit.
Association-Focused DE&I
• Gain member firms’ commitment to the WSIA Diversity Statement.
• Launch Diversity Foundation annual report.
• Assess DE&I practices within staff functions and association governance.
Carlton Maner, Chair Atlanta, GA
Brenda (Ballard) Austenfeld RT Specialty Naples, FL
Carey Bond Lloyd’s Atlanta, GA
Tony Chimera Westfield Specialty Alpharetta, GA
Thurston (TJ) Davis Jr. RT Specialty Birmingham, AL
Gerald Dupre Core Specialty Atlanta, GA
Emma Garner CRC Group New York, NY
Janet Jordan-Foster AXIS Insurance New York, NY
Duffy Koller Paragon Excess & Surplus Lines Chicago, IL
Phillip McCrorie RSUI Atlanta, GA
Terrance Meade Amwins Group Birmingham, AL
Jacque Schaendorf Insurance House Atlanta, GA
Molly Shah Amwins Charlotte, NC
WSIA DIVERSITY FOUNDATION BALANCE SHEET WSIA DIVERSITY FOUNDATION INCOME STATEMENT Dec. 31, 2023 Dec. 31, 2022 Assets Cash $ 742,664 $ 562,105 Receivables 1,450,000 1,655,000 Prepaid Expenses 235,201 387,263 Total Assets $ 2,427,865 $ 2,604,368 Liabilities Accounts Payable $ 17,329 $ 78,054 Pledges Payable - 5,000 Total Liabilities 17,329 83,054 Net Assets Unrestricted 2,410,536 2,521,314 Total Liabilities & Net Assets $ 2,427,865 $ 2,604,368 Dec. 31, 2023 Dec. 31, 2022 Contributions $ 706,820 $ 412,332 Total Revenues 706,820 412,332 General and Administrative 817,598 471,468 Total Expenses 817,598 471,468 Change in Net Assets (110,778) (59,136) Net Assets, Beginning of Year 2,521,314 2,580,450 Net Assets, End of Year $ 2,410,536 $ 2,521,314 For the Years Ending
4131 N. Mulberry Drive Ste. 200 Kansas City, MO 64116 816.741.3910 www.wsia.org ©2024 Wholesale & Specialty Insurance Association
Carlton Maner Chair, Diversity Foundation Board