Diversity, Equity and Inclusion at Hiscox USA
– Kevin Kerridge, CEO of Hiscox USA
At Hiscox, people matter. Having a human approach to our work is important to us. Diversity, Equity and Inclusion isn’t only good for our bottom line; it is the right thing to do and makes Hiscox a great place to work…for everyone. This is why Hiscox USA fosters an internal culture that celebrates diversity in all of its forms. We also intend to be an active part of advancing diversity, equity and inclusion across the insurance industry, which is why we also support external initiatives that promote social equity in the industry and local communities. Some of our efforts include:
- Parental Leave for all: paid parental bonding leave provides vital time for parents to care for and bond with their new child. All eligible employees at Hiscox USA are provided with 6 weeks of fully paid parental leave, regardless of gender or sexual orientation, and including adoptive and foster parents. This is in addition to the 6 to 8 weeks of disability pay for those who qualify and sits alongside existing benefits that aim to support work-life balance.
- Employee Resource Groups: We have 7 employee network chapters in the US, each built around a diverse characteristic, which help us build community and amplify the voices of our people. These are open to all employees and include:
- Generations (spans all the generations in our workforce today)
- Pride (LGBT+)
- Parents and Caregivers
- WeMind (Mental Health)
- Balanced recruitment processes: Hiscox USA has several measures in place to increase access to our open positions, such as balanced interview panels, and ensuring high quality slates of candidates with diverse identities, experiences and backgrounds. Our recruiters proactively source diverse talent, and we have the same expectations of our external search partners to offer diverse candidate slates.
- Diverse leadership pipelines: We know that increasing diversity in leadership benefits the overall organization. At Hiscox USA, DEI is embedded in the succession management process by educating leaders on unconscious bias, and creating targeted development plans to accelerate readiness of under-represented talent.
- Pay-Parity: We regularly gather and analyze compensation data across available diversity categories (i.e., gender, ethnicity) to identify and address any inequities found. We do this in an effort to prevent salary disparities and drive internal equity within our workforce.
- Black Insurance Industry Collective (BIIC) Sponsor: Hiscox USA is a founding sponsor of the BIIC, who support and accelerate the success of Black insurance professionals across the industry. We also participate in BIIC’s Roundtable to share best practices around increasing representation of Black talent and eliminating barriers to success.
- Market leading DEI research: In 2022, Hiscox USA released the Diversity in Small Business Report, which explores the benefits of being a diverse small business.
- Inclusive mentorship opportunities: The Hiscox Career Guru program provides mentorship opportunities for employees. The program connects passionate learners with a ‘career guru’ to support and guide their personal/professional development.
- Hiscox USA CEO championing change in the industry: Kevin Kerridge, CEO of Hiscox USA, has been appointed to APCIA’s ‘Board Working Group on Social Equity & Inclusion Issues’, overseeing initiatives to promote and expand diversity, equity, and inclusion in the insurance industry.
- DEI training for all employees: We provide training on various diversity, equity and inclusion topics for all our employees, from unconscious bias and microaggressions to skill development around building psychological safety, inclusive leadership, and allyship, to topics like neurodiversity and how to use pronouns.
- We include Martin Luther King Jr Day and Juneteenth in our US paid holidays. We also provide employees with a floating holiday each year so that they can have the flexibility to designate a day that best aligns with their values and practices.
- Hiscox Days: Employees receive 2 additional paid-time-off days each year, intended to be used by employees to celebrate something that is special to them such as a birthday, a religious festival, a family event, a Pride parade…the reason is up to each employee. These days give additional flexibility and can even be donated to a colleague if they so choose.
To learn more about Hiscox USA’s work on DEI, hear from some of our executives below:
– Erica Fletcher, Global Head of Diversity, Equity and Inclusion of Hiscox USA