Diversity in Insurance Industry Grows Slowly
With growing calls for diversity, the U.S. insurance industry has made some progress in adding more people of color to its ranks over the last decade. Insurance regulators have also taken up the cause, with the NAIC moving earlier this year to launch a committee on Race and Insurance to examine levels of diversity in the industry and come up with recommendations. The NAIC also hired Evelyn Boswell as its Director of Diversity, Equity, and Inclusion (DE&I)..
The percentage of nonwhite employees in the insurance workforce stood at 21.4 percent in 2019, an increase from 19.8 percent the prior year according to data S&P Global Market Intelligence compiled from the U.S. Bureau of Labor Statistics. The percentage of nonwhite insurance workers was just 15.3 percent in 2010.