Canada’s trade associations see ‘renaissance’ of diversity
Canada’s trade associations see ‘renaissance’ of diversity | Insurance Business Canada
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Canada’s trade associations see ‘renaissance’ of diversity
Canada’s trade and networking associations have seen a “renaissance” of diversity in recent years, offering more opportunities for women and members of minority groups to grow their insurance networks
Canada’s trade and networking associations have seen a “renaissance” of diversity in recent years, offering more opportunities for women and members of minority groups to grow their insurance networks.
Vinita Jajware-Beatty (pictured above), president and board chair of the Toronto Insurance Women’s Association, spoke to Insurance Business about the opportunities such organizations offer.
“I was born in Canada, but of South Asian descent and neurodiverse,” she said. “The intersectionality of that experience, entering a very technical portion of insurance over 16 years ago, certainly left me seeking safe, comfortable, and familiar spaces where there were people that looked like me.
“At that point, even if the only association was TIWA with its gender representation, I would take it. It was the start of building a shoreline of safety.”
Networking associations foster a ‘culture of belonging’
When she joined the Toronto Insurance Women’s Association (TIWA), Jajware-Beatty worked in an organization that spanned multiple sectors, with insurance being just one of them.
TIWA became Jajware-Beatty’s first “safe place” in the industry. Despite her initial discomfort, she found TIWA to be a welcoming group that truly strived to create a culture of belonging.
Jajware-Beatty is among a roster of women leaders sharing networking best practices at the upcoming Women in Insurance Canada summit in Toronto. The interactive workshop, titled “How to future-proof your business by leveraging your network,” aims to equip conference attendees with key skills for leveraging online and offline relationships to heighten their careers.
“We need to remember that in association environments, we’re aiming and striving to create belonging so that our members and guests have that same positive experience that I have seen in some of my earliest connections in the industry,” Jajware-Beatty said.
TIWA had a profound impact on her career and network. Through the association, Jajware-Beatty said she gained a deep understanding of how various categories of insurance work. TIWA also facilitated networking at industry trade events, providing her with familiar faces at conferences and receptions.
“There was always a familiar face at a new claims association event or conference,” she said.
Networking advice for young insurance professionals
While reaching out to networks can be intimidating, especially for young professionals and graduates just entering the industry, Jajware-Beatty emphasized the importance of taking that first step.
She said, “Having the courage to send that email, even for a 15-minute coffee chat with someone on the board,” can provide valuable insights into the association’s programming and goals. This initial effort can help young professionals decide if the group is a good fit for their career aspirations.
Once inside these networking spaces, Jajware-Beatty urged young insurance professionals to approach networking with a clear purpose.
They should have a clear idea of their desired outcome in joining the association or organization, she said, whether it’s to stay abreast of trends and skills, find mentorship or sponsorship, or engage in charitable work for certain causes.
This purposeful approach helps them maximize networking opportunities and ensures that time and resources are invested wisely.
“There’s a vertical group for every single technical faucet of insurance you can belong to, so it’s crucial to identify associations that align with those goals,” Jajware-Beatty said.
A “renaissance” for diversity and inclusion
Jajware-Beatty said that in the wake of George Floyd’s death in 2020, there has been a significant push in Canada to drive diversity, equity, and inclusion (DEI) initiatives.
Jajware-Beatty, who also serves as the Canadian chair of Dive In, Lloyd’s of London’s global DEI festival, highlighted efforts towards better inclusion across the country.
“We are not only driving this dialogue forward but putting action and intention around baking DEIB and belonging culture into organizations,” she said.
She also commended the progress made by insurance trade associations in Canada.
“I’m excited to see all the programming work that they have going into the market to support the broader reach and messaging that will be possible when we expand that reach across the industry,” she told Insurance Business.
“Today, we have many more diverse organizations, including multicultural insurance groups. There’s a Chinese Insurance Professionals Association, and back in the day, there were groups for South Asian and Portuguese insurance professionals. They evolved into broader educational groups inviting all professionals.
“This renaissance of culturally specific and equity-seeking groups forming associations is a reminder that we all are responsible for checking our biases and creating safe spaces where everyone can belong.”
Diverse organizations play a crucial role in supporting professionals from various backgrounds and ensuring that the industry remains inclusive, especially as insurance grapples with a talent shortage.
“If we don’t [continue DEI efforts], we risk individuals leaving not just organizations, but the industry entirely,” said Jajware-Beatty. “Our sector is already facing a huge talent gap with the upcoming retirement of boomers and millennials exiting the industry and not returning.”
Be part of the change and join the conversation on diversity, equity and inclusion. Register now to join the Women in Insurance Summit Canada on June 18, 2024 at The Carlu, Toronto.
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