Advancing Supplier and Governing Board Diversity
|
|
Deadline for submissions is the 15th of every month.
|
|
December 2019 Newsletter Preview
|
I. What’s New:
- The Year in Review
- Governing Board Diversity Case Studies - NORCAL Group and Prudential
- Insurance Diversity Task Force Application Period Open
II
.
In the Community:
- National Conversation on Board Diversity
III. Spotlight on Diversity:
- Supplier Diversity: A Unified Solution for Multi-Channel Communications Procurement
- Women in the Workplace: Gender Equity, Diversity & Inclusion
IV. Announcements:
- Share your Success Story!
V. Diversity Events Calendar
|
|
Seasons' Greetings!
The end of each year is often a time for reflection as we look back at the experiences that have shaped us, and look forward to the prospect of a new year ahead.
The year 2019 was full of new beginnings and meaningful milestones, so we thought we would share a few of them with you:
- January: The California Department of Insurance welcomed our 8th Insurance Commissioner Ricardo Lara to lead the largest consumer protection agency in the state.
- February – September: We worked tirelessly alongside our stakeholders to achieve a major victory with the signing of Senate Bill (SB) 534 (Bradford) by California Governor Gavin Newsom on September 5, 2019.
- June: Alongside members of the Insurance Diversity Task Force, we attended and engaged in the Women’s Business Enterprise National Conference (WBENC) in Baltimore, MD.
- August: Alongside members of the Insurance Diversity Task Force, we attended and engaged in the National LGBT Chamber of Commerce (NGLCC) International Business & Leadership Conference where we witnessed Tampa’s Mayor Jane Castor sign an executive order to recognize NGLCC certified LGBT business enterprises in the city’s contracting and procurement opportunities.
- September: We welcomed our newest addition, Diversity Analyst Amy Ives, to our Diversity Initiative Team
- October: Alongside members of the Insurance Diversity Task Force, we attended and engaged in the National Minority Supplier Development Conference (NMSDC) in Atlanta, GA.; and the 3rd Annual National Veterans in Business (VIB) Conference that took place in San Diego, CA.
- November: We engaged in the National Conversation on Board Diversity hosted by 2020 Women on Boards and helped celebrate the accomplishments of those companies that have achieved at least 20% of women on their boards.
- December: We published our first set of Governing Board Diversity case studies to highlight leading practices to advance board diversity in collaboration with NORCAL Group and Prudential.
Of course, we recognize that a commitment to diversity does not happen overnight, and we certainly would not be able to advance towards our mission without the generous support and feedback from you. Thank you!
We wish you the happiest of holidays and look forward to continuing this important work with you in 2020.
Warmest Wishes,
Chandara, Rebecca, and Amy
California Insurance Diversity Initiative
|
|
"What word best describes the year 2019 for you and why?"
|
|
Rebecca Ball
RESILIENT
"I have been resilient in both professional and personal progression and setbacks, I leave 2019 on a peak and look forward to 2020."
|
|
Chandara Phanachone
PATIENCE
"Aside from the amazing work with this Initiative, I also have the privilege of chasing after a toddler and kindergartner whose attention spans combined have taught me the art of patience and slowing down to savor the small, but mighty moments in life."
|
|
Amy Ives
TRANSITION
"I knew that this year would be full of transition as my husband and I would be starting new jobs and our younger child would be starting kindergarten. It has lived up to the expectation in mostly great ways."
|
|
GOVERNING BOARD DIVERSITY CASE STUDIES
NORCAL Group and Prudential
|
|
The Insurance Diversity Initiative recently completed governing board diversity (GBD) case studies on two board diversity champions in the insurance industry. The case studies, conducted in collaboration with board leaders from NORCAL Group and Prudential, highlight leading practices that were undertaken by the respective companies which have contributed to their successes in achieving a more diverse board of directors.
|
|
INSURANCE DIVERSITY TASK FORCE
Application Period Open
|
|
The California Department of Insurance is seeking qualified representatives to serve on California’s Insurance Diversity Task Force. The Insurance Diversity Task Force considers and makes recommendations about diversity in the insurance industry. Specifically, the mission of the Task Force is to:
- Advise the Department of Insurance with member area(s) of expertise on Department initiatives to increase procurement with diverse suppliers and diversity on governing boards;
- Identify and promote insurance companies that are actively engaged in diversity issues;
- Explore the status of diverse representation on insurance company governing boards; and
- Provide recommendations to increase supplier or governing board diversity, which may include suggested changes to existing law.
Members of the Task Force are appointed for a term of two years. The Task Force meets quarterly in Sacramento with video conferencing in Los Angeles and San Francisco. Members commit to attending, at minimum, 2 of the 4 scheduled meetings.
Qualified applicants that reflect the diversity of the State of California, including women, LGBT, disabled veterans, veterans, and other minorities, are strongly encouraged to apply. For more information, please contact:
CDIBoards@insurance.ca.gov
.
Applications are due to the Department by Wednesday, January 22, 2020.
|
|
National Conversation on Board Diversity
November 21, 2019
|
|
Amy Ives, Insurance Diversity Analyst and Rebecca Ball, Insurance Diversity Coordinator attend the Sacramento event.
|
|
Every November, on the Thursday before Thanksgiving Day, in cities across the U.S. and abroad, more than 7,500 current and aspiring women directors, C-Suite and senior executives gather for a unique conversation. This year's topic was: Now is the Time: How Can We Help Each Other and Seek Allies to Find a Corporate Board Seat?
This year, members of the Insurance Diversity Initiative were able to participate in events in Sacramento and San Diego. Sacramento highlights included the announcement of the latest national statistics for women on boards of the Russell 3000 companies (20.4%) and keynote speakers including CEOs, Corporate Directors of public utilities and companies. The San Diego event included a presentation on the current prevalence of women on public company boards across the U.S, the status of the board gender diversity mandate as provided in Senate Bill 826 (Jackson) and a panel discussion with corporate directors, CEOs and institutional investors covering topics such as the benefits of diversity in the boardroom & the path to board leadership. The evening capped off with the recognition of at least 40 San Diego-based companies that have achieved at least 20% of women on their boards.
# # #
|
|
SUPPLIER DIVERSITY SPOTLIGHT
|
|
A Unified Solution for Multi-Channel Communications Procurement
By: Supply Chain Digital
The digital age has changed the relationship between company and customer. Success, therefore, increasingly relies on making the customer experience a happy one and critical to this is how the company communicates with them.
Today, the key brand differentiator is often not product or price but customer experience. Indeed, 89% of consumers have switched to a competitor when that experience was considered poor. New technologies such as email, smart apps and instant messaging are transforming the communication landscape and together with artificial intelligence (AI), they enable companies to implement customer-centric, multi-channelled communication strategies.
For procurement professionals, the challenge lies in adopting new communications technologies and adapting procurement processes to keep pace with development.
Recent research published in The Hackett Group’s
2019 CPO Agenda: Building Next Generation Capabilitie
s highlights that procurement is prioritizing investment in technologies that will provide advanced, data-driven capabilities and, for many, communications is a key area.
To read the
full article, visit the Supply Chain Digital blog.
# # #
|
|
GOVERNING BOARD DIVERSITY SPOTLIGHT
|
|
Women in the Workplace: Gender Equity, Diversity & Inclusion
Sacramento, CA | November 6, 2019
|
|
Top: Insurance Diversity Coordinator Rebecca Ball; Insurance Diversity Analyst Amy Ives; and Insurance Diversity Initiative Director Chandara Phanachone. Bottom: Ana Mendy, Partner at McKinsey & Company, discusses the 2019 Women in the Workplace report findings with attendees.
|
|
On November 6, the City of Sacramento hosted an event entitled “2019 Women in the Workplace: Gender Equity, Diversity & Inclusion,”at Sacramento's City Hall. This free and public presentation featured global management consulting firm
McKinsey & Company's
(McKinsey) latest research findings on women in the workplace that was completed in collaboration with
LeanIn.org
.
Partners from McKinsey provided insights from nearly 600 companies, 250,000 survey respondents and over 100 one-on-one interviews. McKinsey's report notes progress in representation of women in the C-Suite, companies' commitment to gender diversity, senior leadership accountability, sponsorship of women, flexibility of work arrangements, and an increase in dual career couples. However, some areas to improve upon are representation of women at the management level and representation of women of color due to a "broken rung" in the career ladder. The report contains actionable steps that companies may wish to consider to reach gender parity. To learn more, McKinsey has
published the Women in the Workplace 2019 report
in its entirety.
# # #
|
|
 |
Do You Have a Success Story? We Want to Hear from You!
|
Do you have a success story related to governing board diversity?
Do you have NEW or RENEWED Business Relationship/Networking opportunity that has created opportunities for your business within the Insurance Industry?
Do you have NEW or RENEWED Procurement or Contract Opportunity(ies) within the Insurance Industry?
If you said, "Yes," to any of these questions - we want to hear from you!
Please considering answering our
short survey
to tell us about it or contact us directly at
diversity@insurance.ca.gov.
Each step you take towards advancing governing board and supplier diversity within your company is a measure of your success, and you provide others with the opportunity to learn and grow from your experiences.
|
|
|
|
DIVERSITY EVENTS CALENDAR
DECEMBER 2019 & JANUARY 2020
|
|
DECEMBER 2019
Hosted by: Golden Gate Business Association
Location: San Francisco, CA
Date: December 10, 2019
|
|
JANUARY 2020
Hosted by: Corporate Directors Forum
Location: San Diego, CA
Date(s): January 15-17, 2020
|
|
To submit a request to add your Supplier Diversity or Governing Board Diversity-related event, please contact us at:
diversity@insurance.ca.gov
.
|
|
# # #
The Insurance Diversity Initiative was established in 2011 to address diversity issues within California's $310 billion insurance industry. Specifically, these efforts are meant to increase procurement from California’s diverse suppliers, as well as to increase diversity amongst insurer governing boards. To accomplish these goals, the Department conducts outreach, creates partnerships, hosts events, and most importantly, administers surveys to collect and publicly disseminate information about the state of diversity in the insurance industry.
|
|
INSURANCE DIVERSITY INITIATIVE
Office of Insurance Commissioner Ricardo Lara
California Department of Insurance
(916) 492-3623
|
|
|
|
|
|
|
