Guest Author – Phoebe Gilmore – Front of House Manager – Verisk

Last week at Verisk, I hosted thirteen enthusiastic interns, and it got me thinking about their personal and professional trajectories in the insurance industry. Many of these students are in their second year of university – a pivotal and transitional year full of opportunities, pressure, and uncertainty.

University life has the benefit of societies and organisations to encourage and support young people whilst studying, but what happens after the final paper is handed in, the job acceptance email has been received, and the mortar board has been thrown high into the sky?

The Insurance Charity provides a reassuring hand to those who are beginning their careers. Life can throw any of us unexpected challenges, which, coincidentally, is what lies at the heart of insurance. That’s why The Insurance Charity has an annual awareness week – to raise visibility, share resources, and opportunities for empowering the next generation. The Charity wants to ensure that no one in the industry misses out on the support they can offer due to a lack of awareness.

The Insurance Charity has been supporting insurance people (and their dependants) since 1902, and next year will celebrate its 125th anniversary. The Charity can offer financial support and practical guidance in complete confidence to insurance people, whatever their role or length of time in the industry. Many early-career professionals aren’t aware that this Charity exists – and it exists for them!

Breaking the stigma

For some, it’s not easy to ask for help, and the only viable option is to suffer in silence, but The Insurance Charity wants to break this stigma. It’s no secret that inflation has made the cost of living difficult – especially for those of us who are at the beginning of our careers. There is an assumption that The Insurance Charity is applicable only to later-career scenarios, which is untrue. Unexpected life or financial shocks, mental health or wellbeing challenges, and instability are all pressures that have no age limit. The Insurance Charity is a confidential space precisely for these moments of uncertainty.

On breaking the stigma, Mary Bowie, Managing Regional Counsel UK/RoI, APAC, MEA, Verisk Analytics Ltd, had this to say “As a serving board trustee for The Insurance Charity, raising awareness among early‑career insurance workers in particular is critical to ensuring support is accessible, visible and normalised from the outset for the next generation and we can help remove stigma and build a stronger, more inclusive industry.”

Insurance networks like NGIN (Next Generation Insurance Network) are committed to creating a more inclusive and connected industry. “That mission is exactly why we value the work of The Insurance Charity”, says Elena, Senior Wordings Analyst at MS Amlin, and Inclusion & Diversity officer at NGIN. “Early-career professionals often feel pressure to hide personal challenges, worried that it might undermine how they are perceived in a competitive industry. By offering practical support when it matters most, The Insurance Charity enables people to stay in our sector and grow in confidence. Social mobility isn’t just about opening the door, but making sure people have that stability to walk through it, ­and I believe The Insurance Charity helps ensure that no one’s future in insurance is defined by their circumstances, but by their talent.”

Case study

Take, for example, a young professional who was made redundant, had no savings, had just signed a new shared tenancy, and was worried about how to pay their share of the rent until they found alternative employment. The Insurance Charity could help with day-to-day living costs like rent and utility bills to enable them to get back on their feet without feeling they were in jeopardy with their housing situation. The impact of the support The Insurance Charity extends further than the primary applicant – it mobilises the next generation.

Professional and personal growth

The Insurance Charity can provide personal development opportunities too. Young people who are starting out in their careers in the UK and Ireland could apply to represent their industry peers on one of The Insurance Charity’s committees or Board. By serving as a Trustee or member of a committee at such an early stage, people in the early developmental stage of their career can build on their networking, public speaking, and teamwork skills. The Charity advertises these positions when they become available and encourages applications from younger representatives in the industry.

When discussing awareness week, Helen Sanson, Chief Executive and Company Secretary of The Insurance Charity, remarked, “As I reflect on the next generation entering our industry, it’s clear how important awareness and community are from the start of someone’s career pathway. The Insurance Charity provides reassurance to the whole insurance community throughout people’s lives, including when they have retired. I encourage every professional starting out to learn about the Charity and share the details with their colleagues. Most importantly, if people feel they need to support, we want them to contact us in confidence – we’re here to listen. The more people that know about us, the more we can help insurance people, and their families when they need it most.”

What can I do?

The Insurance Charity has a range of resources and content that can be shared internally and within networks. If you know of someone who could really use a helping hand, spread the news! Talk to your HR, Wellbeing, and Mental Health First Aiders about the Charity. Early-career professionals have a real opportunity here to build a more inclusive, supportive insurance profession.

Now more than ever, it is important that we facilitate cross-generational engagement and collective responsibility. Early awareness of the excellent work that The Insurance Charity does makes the insurance industry stronger!

If you would like to find out more about The Insurance Charity and get involved, check out their website and drop them a follow on their social media so you are always up to date.