Zurich Resilience Solutions adds DEI service for customers
Zurich Resilience Solutions (ZRS) in North America has launched a new Diversity, Equity, and Inclusion (DEI) service in collaboration with Inclusion Score. This service is designed to help businesses assess and enhance their DEI practices according to the ISO 30415 standard. As one of the first insurers to offer such a service, ZRS aims to provide a multi-tiered approach that includes assessment, consulting, and training. The initiative responds to increasing business risks associated with inadequate DEI policies, with potential legal impacts and the necessity for organizations to demonstrate commitment to DEI.
- Launch of innovative DEI service positions Zurich as a leader in the insurance sector.
- Collaboration with Inclusion Score enhances service credibility and effectiveness.
- Service designed to be customizable for various industries and organization sizes.
- Growing scrutiny of DEI practices across businesses posing ongoing risk.
- Increased legal liabilities associated with discrimination lawsuits.
SCHAUMBURG, Ill., Jan. 6, 2022 /PRNewswire/ -- Zurich Resilience Solutions ("ZRS") in North America today announced it is launching a groundbreaking offering called the Workplace Diversity, Equity and Inclusion ("DEI") Service in collaboration with Inclusion Score, a leading organization that advised on a new global diversity and inclusion standard issued by the International Organization for Standardization (ISO) in May 2021. Developed at the request of customers and brokers, Zurich's service will help businesses strategically assess DEI in their organization and work toward the ISO standard and their unique DEI goals.
With today's announcement, Zurich becomes one of the first insurance providers to offer a DEI assessment and consulting service. Using the new ISO standard as a benchmark, ZRS will work with customers to incorporate DEI into every layer of their organizations, including in governance, human resources, product delivery and supply chain. The collaboration with Inclusion Score uniquely positions ZRS to help companies take meaningful, measurable action to enhance equity, fairness and accessibility in their organizations.
"Insufficient attention to diversity and inclusion has become a business risk that can have a direct impact both on an organization's financial performance and its workforce," said Thomas Fioretti, Head of Zurich Resilience Solutions in North America. "Recoveries in discrimination lawsuits are at all-time highs, and shareholder derivative lawsuits based on D&I are growing. Corporations need guidance when it comes to assessing and enhancing their DEI practices and policies, training their teams to address concerns and insuring themselves from business risks."
Zurich's DEI service is designed to be customizable to a wide range of industries and organizations of all sizes, helping them comply with the new global standard 30415 from the ISO and providing guidance on D&I principles, practices and methods to enable and support equity, fairness and accessibility for people of all backgrounds in the workplace.
ZRS' program features a multi-tiered approach aimed at ensuring holistic analysis and long-term success. It includes:
- Assessment and reporting: Measuring where organizations are succeeding in DEI as well as falling short, ZRS will offer customers a Capability Maturity Model Integration Score that assesses their organization's DEI maturity along with an improvement roadmap focused on critical areas of need in their business.
- Consulting: Once the roadmap is set, ZRS Risk Engineers will work with customers to customize recommendations for their unique business challenges and provide ongoing consultation to ensure measures are implemented in accordance with benchmarks.
- Services and training: With the infrastructure in place, ZRS will assist customers in communicating DEI principles throughout all levels of the organization and follow up with appropriate training to ensure objectives are understood and put into action.
Taking Zurich's Risk Engineering services to the next level, Zurich Insurance Group created ZRS last year as a global business unit to enable the expansion of holistic, innovative solutions in a rapidly changing risk landscape. ZRS provides specialized insights and tools above and beyond insurance to help businesses address and build resilience to evolving risks.
"Businesses of all sizes are increasingly being asked not only about their DEI beliefs but also to demonstrate their practices and progress as a prerequisite for winning new and renewal business from customers, for securing insurance protection and for recruiting and retaining top talent," said Julia Oltmanns, Director of DEI Services for Zurich Resilience Solutions. "Our new solution will help companies fortify and measure their DEI practices and integrate the principles of diversity, equity and inclusion through their entire organization."
"We are pleased to collaborate with Zurich to help businesses bring greater rigor, clarity and effectiveness to their DEI efforts," said James Felton Keith, CEO of Inclusion Score. "The investment is worthwhile for many reasons. With evidence from multiple studies, it is now widely accepted that diverse organizations are more resilient, innovative, profitable and successful in attracting as well as retaining talent."
ZRS' relationship with Inclusion Score will give customers access to some of the world's leading experts on diversity, equity and inclusion and increase the scope of solutions ZRS is able to provide.
About Zurich
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With approximately 55,000 employees, it provides a wide range of property, casualty and life insurance products and services in more than 215 countries and territories. Zurich's customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
In North America, Zurich is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors through the individual member companies of Zurich in North America, including Zurich American Insurance Company. Zurich Resilience Solutions and its risk engineering functions in the United States are provided by The Zurich Services Corporation. Life insurance and disability coverage issued in the U.S. in all states except New York is issued by Zurich American Life Insurance Company, an Illinois domestic life insurance company. In New York, life insurance and disability coverage is issued by Zurich American Life Insurance Company of New York, a New York domestic life insurance company. For more information about the products and services it offers and people Zurich employs around the world go to www.zurichna.com. In 2012 Zurich marked 100 years of insuring America and the success of its customers, shareholders and employees.
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This is a general description of (insurance) services such as risk engineering or risk management services by Zurich Resilience Solutions, which is part of the Commercial Insurance business of Zurich Insurance Group, and does not represent or alter any insurance policy or service agreement. Such (insurance) services are provided to qualified customers by affiliated companies of Zurich Insurance Company Ltd, including but not limited to Zurich American Insurance Company, 1299 Zurich Way, Schaumburg, IL 60196, USA, and The Zurich Services Corporation, 1299 Zurich Way, Schaumburg, IL 60196, USA. Inclusion Score is not a subsidiary or affiliate of Zurich and while Zurich is providing this service in collaboration with Inclusion Score, Inclusion Score is solely responsible for the quality of their work product. The opinions expressed herein are those of Zurich Resilience Solutions as of the date of the release and are subject to change without notice. This document has been produced solely for informational purposes. All information contained in this document has been compiled and obtained from sources believed to be reliable and credible, but no representation or warranty, express or implied, is made by Zurich Insurance Company Ltd or any of its affiliated companies (Zurich Insurance Group) as to their accuracy or completeness. This document is not intended to be legal, underwriting, financial, investment or any other type of professional advice. Zurich Insurance Group disclaims any and all liability whatsoever resulting from the use of or reliance upon this document. Nothing express or implied in this document is intended to create legal relations between the reader and any member of Zurich Insurance Group. Certain statements in this document are forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans, developments or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by numerous unforeseeable factors. The subject matter of this document is also not tied to any specific service offering or an insurance product nor will it ensure coverage under any insurance policy. No member of Zurich Insurance Group accepts any liability for any loss arising from the use or distribution of this document. This document does not constitute an offer or an invitation for the sale or purchase of securities in any jurisdiction.
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SOURCE Zurich North America
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