监督保险中的DEI——执行摘要

Supervising DEI in insurance – Executive Summary In 2021, the International Association of Insurance Supervisors (IAIS) published astatementthat explained theimportance of diversity, equity and inclusion (DEI) considerations in insurance supervision. ItsApplication Paperon supervising diversity, equity and inclusion: the governance, risk management and culture perspectiveelaborates on the significance of DEI in the supervision of risk management and corporate culture of insurers,in accordance with theIAISInsurance Core Principles(ICPs). ICP 7 – Corporate governancerefers to the need for insurers to have a corporate governanceframework that provides for sound and prudent business management and oversight and protectspolicyholder interests. ••ICP 8 – Risk management and internal controlsrefers to the need for insurers’ corporategovernance frameworks to include effective systems of risk management and internal controls. What is DEI? Diversityreflects the differences between people, including different knowledge, skills,experience, ways of thinking and demographic characteristics. The idea that suchdifferences can lead people to think differently and have varying perspectives issometimes called “diversity of thought”. Equityinvolves seeking fairness for all by allocating resources and opportunities in away that recognises the different circumstances and needs of different groups of people. Inclusionrefers to a sense of belonging felt by all people within an organisation,regardless of their differences, and an absence of barriers, so that they can participatefully in and contribute to the organisation and are unafraid to raise difficult issues orconvey difficult messages to their seniors. Why is DEI relevant to governance and risk management? The corporate governance standards set out in ICP 7 are supported by elements such as diverse boardcomposition, the exercise of independent judgment by board members, and objective and independentdecision-making within boards. Embedding DEI within an insurer can support these outcomes and strengthenits governance by bringing broader perspectives within the organisation and reducing “groupthink” (ie atendency to prioritise consensus over critical evaluation). Effective systems of risk management, as expected by ICP 8, must be able to take account of allreasonably foreseeable and material risks to which the insurer is exposed. Control functions need to have thenecessary authority and independence to be effective. By leading to a more diverse staff working together andable to raise concerns, DEI can enable more complete identification and understanding of risks and ensureappropriate escalation of risk reporting. The lack of sound DEI practices in an insurer may give rise to increased risks in the following areas: governance– weak internal challenge, poor decision-making, lack of innovation and increased riskof employee misconduct reputation– damage to public trust and investor confidence •staffing– difficulty attracting and retaining high-quality and diverse staff in competitive labourmarkets•legal– exposure to discrimination claims and regulatory sanctions•competitiveness– missed opportunities for innovation and market relevance due to a lack of diverseperspectives Warning signs for supervisors There are two sets of warning signs for supervisors that can indicate the need for increased engagement withan insurer on the topic of DEI. The first set relates to governance, risk management and corporate culture thatcould arise when there is a lack of DEI. These warning signs include: •a lack ofchallengein board discussions and key decision-making processes, which could mean thatdiverse perspectives are not being considered•a corporate culture that is resistant to change, which could indicate groupthink•a lack of open communication between levels, which could lead to problems not being escalatedappropriately and addressed•persistent breaches or insufficient consideration of the views of control functions•high staff turnover and difficulties in retaining or recruiting staff from particular groups The second set of warning signs indicates possible shortcomings in the way that an insurer hasembedded DEI. These include: •a dismissive attitude to DEI from management, a lack of a clear strategy to drive change, or unclearaccountability for embedding and promoting DEI at all levels of the organisation•the lack of an informed DEI strategy with sufficient data, a box-ticking approach to implementation,or limited or stagnant metrics for monitoring progress•the lack of an institution-wide DEI strategy with dedicated resources or a focus limited to diversity insenior leadership•poor internal communication on DEI or limited employee feedback channels Supervisory actions to address DEI-related problems There are industry-wide actions and insurer-specific engagement that supervisors may pursue to address DEI-related issues they have identified. Those potential actions must be