Fortunately, these days, giving back has become more engrained into corporate culture. Companies are increasingly incorporating philanthropy and social responsibility into their core business strategies. Countless studies show that consumers want to do business with companies committed to social good and that employees want to work for them.
With helping people at their time of need at the very core of insurance, ours is an industry deeply committed to charitable giving and volunteerism and one that recognizes the benefits giving back can lend to the community, company culture, and the business itself. Illustrating this commitment is the Insurance Industry Charitable Foundation’s (IICF) Philanthropic Index, which that found charitable giving by 120 insurance companies and businesses topped $1.1 billion in 2022, with 94,000 industry professionals dedicating their time to volunteer. Further underscoring the industry’s generosity is the more than $50 million in total community grants awarded by IICF, a milestone IICF will celebrate this year during our 30th anniversary.
While the community need itself is compelling enough to sustain momentum, fresh thinking and creativity can go a long way toward keeping employees engaged, ready to roll up their sleeves, and willing to give to a good cause. At the IICF, we enjoy a unique perspective, as we exist to unite the collective strength of the industry to provide grants, volunteer service, and leadership in the communities where we live and work. We have learned of incredible philanthropic initiatives by insurers, brokers, and other partners across the industry, launched alongside our own initiatives. For executives looking for a little inspiration on how to engage and inspire employees, while supporting the community, the sky’s the limit.
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The Top 10
Leaders, employee resources groups (ERGs), and other representatives are thinking outside the box to not only make sure a wide swath of their communities are served, but also so their employees remain engaged. Although it would be impossible to choose our favorites, below, in no particular order, are 10 of the more creative initiatives that companies in our industry embarked on over the past year. We are hoping these initiatives – large and small, hyper-local, regional, and world-wide – will serve to inspire others:
- Assembling solar lights for students in energy poverty: To mark World Humanitarian Day, team members at AIG built small solar lights and wrote messages to children living in energy poverty to help them to study after dark.
- Collecting and assembling career outfits for those in need: Volunteers at Burns & Wilcox participated in clothing donation events and organized 5,000 pieces to refill closets at the Dress for Success nonprofits in Orlando, Tampa, and South Florida.
- Organizing a virtual 5k for women’s causes: Chubb hosts a virtual 5k annually where participants can compete from anywhere to support women’s causes.
- Participating in a veterans’ walk for suicide awareness: A Veterans ERG at CNA joins to participate in the Chicago 17-mile Veterans Ruck March every May in honor of veterans lost to suicide.
- Hosting a golf tournament to raise funds for animal welfare: Falvey Insurance Group hosted Fore the Pets, a charity golf tournament benefiting the Rhode Island Society for the Prevention of Cruelty to Animals.
- Coordinating a birthday buddy program for students in need. HUB partners with a preschool serving children facing food insecurity and serves as “birthday buddies,” ensuring the children receive cupcakes, decorations, and presents on their birthdays.
- Organizing a team to work outdoors on habitat restoration: In Chicago, Intact Insurance Specialty Solutions volunteers spent a day outdoors helping with habitat restoration at the Blackwell Nursery for the Forest Preserve District of DuPage County, removing invasive plants, separating seeds, and more to support a thriving ecosystem.
- Coordinating participation in a 9/11 Memorial Walk: New York City employees at Marsh get together annually for the 9/11 Memorial and Museum 5k Run/Walk to pay tribute to those who lost their lives on 9/11, including 358 Marsh McLennan employees.
- Hosting a wheelchair basketball clinic and donation drive: The Hartford hosted a youth wheelchair basketball clinic and equipment donation drive with celebrity wheelchair basketball player Matt Scott, surprising youth athletes with 50 sports wheelchairs.
- Coordinating support for animal welfare at an area zoo. Members of the World Broker Network meet twice a year for a conference where they assist regional community organizations like the San Diego Zoo’s animal welfare program.
While implementing and supporting their own events, employees at these companies also took the time to take part in IICF’s industry-uniting events, including the following:
- The IICF Step Up Challenge, a four-week exercise challenge that has raised more than $420,000 for children in need
- IICF’s Fill the Truck Events, such as our Atlanta Fill the Truck Event, which have helped provide hundreds of thousands of meals through regional food banks
- IICF’s annual Veteran Cemetery Service Project and Clean Up at the Dallas-Fort Worth and Houston National Cemeteries, where well over 100,000 headstones have been washed and grounds beautified in honor of our fallen soldiers
- IICF’s Share the Warmth Coat Drive, through which we collected more than 1,800 coats last year in support of One Warm Coat, an organization dedicated to providing free coats to children and adults in need
- IICF’s Share Your Thanks Campaign in partnership with Our Military Kids, where IICF’s industry supporters wrote motivational cards to the children and teens of parents serving in our military to help build their confidence and wellness
In addition to these events, is of course, IICF’s annual Week of Giving, now expanded to Month of Giving, in October, where individuals and groups of volunteers from across the industry take time to get out in the community and volunteer together or do so virtually to celebrate the industry’s enduring dedication to philanthropy and giving back.
See also: Top Employee Incentive Trends for 2024
Making Your Mark
The strongest insurance leaders and team philanthropic coordinators continue to devise robust giving programs that employees find compelling and feel a connection to every day. They understand that to keep the team engaged and eager to participate they need to offer fresh ideas and worthwhile, rewarding, inspiring, and somewhat convenient opportunities.
To move forward with the right approach, leaders first need to understand the need in the communities around them, as well as the causes their team members feel passionate about. Then, leaders can start to cultivate a program and procure unique and flexible approaches for team members to participate in and design a thoughtful initiative that serves a real need in the community. A great place to start is by connecting with area nonprofit leaders to learn about their priorities to best meet the needs of those they serve. At the same time, gauge the interests and passions of employees through internal communication or a team survey.
In building or expanding a charitable giving or volunteer program, leaders should consider the following best practices:
- Share stories of impact: A core component to a successful philanthropic campaign is sharing stories demonstrating the impact your organization’s generosity has made. Employees, and consumers for that matter, will want to see a tangible impact. Further, they will want confirmation that leadership is authentic about philanthropic initiatives and that giving back is truly part of the mission and priorities of the company. They want to know the company is not looking to simply check a box.
- Communicate regularly: Communicating your initiatives broad and wide is critical, whether through emails, social media, or another channel. Keep in mind that people like to communicate in different ways. Where some are responsive to emails, others may prefer texts.
- Provide options and flexibility: With many employees working remote or hybrid or facing other challenges, it’s critical to take accessibility issues into account when designing a philanthropic campaign. Offer virtual volunteering or a donate-only component to cater to those with limited time or those who are unable to be there in person. Consider designating a volunteer time or a sponsored company volunteer day, allowing individuals to better plan to give of their time. Or consider incorporating a volunteer component into existing meetings, when many employees will already be making themselves available.
- Offer incentives to employees: Employee matching programs have proven to be highly successful over the years, helping charitable giving campaigns reach new heights. Another means to encourage employees may be to offer special prizes. For example, AmRisc holds a drawing for prizes for everyone who attends their regular corporate citizenship meetings.
While charitable giving and volunteerism have always been a focus for the insurance industry, it is now at the forefront as leaders define philanthropy as a core business goal. As new leaders enter the workforce, they continue to make it clear they are seeking meaningful work. In return, employers need to engage authentically with their employees and their communities by making giving back part of their everyday priorities. Support from the top and fresh thinking will help companies continue to breathe new life into their philanthropic programs, providing key resources for the communities where they live and work for years to come.
