The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, yesterday gathered insurance industry leaders and members of the media to discuss many of the industry’s extraordinary philanthropic initiatives at IICF’s virtual Key Partners 2021 Media Roundtable. During the event, IICF released the 2020 COVID-19 Crisis: IICF Children’s Relief Fund Impact Report, which detailed the industry’s generous giving to its 2020 Relief Funds in the US and UK and how the funds directly supported those in need, including more than 2.5 million meals provided to vulnerable children.
Top industry leaders from AIG, Amwins, AXA XL, EY, Lloyd’s and The Hartford presented their efforts to make a meaningful difference in the communities where we live and work over the past year. “This year’s IICF Media Roundtable presentations showcased the enduring dedication of our industry to charitable giving, affirming a legacy of philanthropic activities that provide a hand up to people in need. Increasingly, our industry is using its philanthropic voice to initiate and support the development of new talent from communities not previously aware of the career possibilities we offer,” said Hank Watkins, Regional Director and President of Lloyd’s, Americas and Chair, IICF International Board of Directors. “Through innovative industry and IICF initiatives such as the IICF IDEA Council and Inclusion in Insurance Forum, we’re introducing the next generation of industry leaders to our many colleagues who’ve committed themselves to building career paths everyone can join us on.”
Many of the philanthropic programs discussed are included as well in the 2020 IICF Philanthropic Showcase, which was also released at yesterday’s event. Some key highlights include:
Throughout 2020, AIG has donated funds and resources, including more than $22 million in charitable contributions and matching grants. The AIG Foundation has directed $4.5 million toward organizations leading vital COVID-19 relief efforts: International Medical Corps, Feeding America, and the Coalition to Back Black Businesses. To support the Black community and racial equity, the AIG Foundation made $500,000 in grants allocated to the NAACP Legal Defense and Educational Fund, Inc. and the Equal Justice Initiative.
The Amwins initiative to improve diversity and opportunity in the industry includes its unique partnership with Tuskegee University, supporting the creation of curriculum focused on core risk management, data science and analytics. The company has committed $1 million to help further the development and awareness of risk management programs in HBCUs and careers in wholesale, specialty and surplus lines insurance.
AXA XL’s Valuing Water initiative aims to develop a more water-secure world by helping its clients and communities build resilience to water-related risks. Actions include partnerships with nonprofits, academia and other actors in the water space, as well as leveraging AXA XL’s own risk expertise.
In 2020, EY launched the Entrepreneurs Access Network to support Black and Latinx founders and built coalitions to bridge the digital divide distance-learning gap for underserved students. EY has committed to investing $3 million to the National Urban League, the NAACP Legal Defense and Education Fund, and a collection of local community organizations. EY has also contributed $4 million collectively to four Historically Black Colleges and Universities.
Last year, as the pandemic’s impact began to be felt around the world, Lloyd’s committed £15 million to support the relief efforts of charities in the United Kingdom, United States and many other countries. In appreciation of the progress made by IICF as a convener of insurance industry colleagues seeking better outcomes for their communities, Lloyd’s donated $500,000 to the COVID-19 Crisis: IICF Children’s Relief Fund. This was the largest single contribution received by IICF to date.
In addition to the $1 million The Hartford committed to COVID-19 relief efforts across the country, the company provided $1.5 million to support U.S. small businesses in partnership with Main Street America, a nonprofit organization dedicated to strengthening communities through preservation-based economic development. Nearly 100 businesses nationwide received grants to help with acute business needs or to implement innovative solutions to address COVID-19-related challenges. More than 50% of recipients were diverse-owned.
IICF Key Partner Companies also joining in the discussion yesterday included: Aon, Chubb, CNA, Hub International, Munich Re, Swiss Re and Zurich.
The COVID-19 Crisis: IICF Children’s Relief Fund Impact Report, released at the roundtable, shared notable statistics from the industrywide campaign, including that $1.3 million was raised to combat food insecurity, educational disruption and that more than 1,500 individual insurance professionals contributed personally to help those in need. IICF’s five divisions across the US and in the UK worked together with 26 nonprofit partners, awarding more than 60 grants.
“In 2020, the COVID-19 pandemic exacerbated existing food insecurity and societal inequities across the US and UK,” said Bill Ross, CEO of IICF. “With the Children’s Relief Fund, we were able to quickly offer essential support to children and families in need and we are very grateful to work with an industry that immediately stepped up to embrace our relief efforts. Today, we are proud to share the Impact Report, along with the IICF Philanthropic Showcase, both of which highlight the phenomenal impact the insurance industry can make when we collaborate and work together in giving back.”
For the full IICF Relief Fund Impact Report, please visit https://online.fliphtml5.com/swww/gasq/. To address the growing hunger crisis, IICF is again raising funds in the 2021 COVID-19 Crisis: IICF Children’s Relief Fund and Revitalising Communities Funds in the US and UK.
The 2020 IICF Philanthropic Showcase, a report highlighting the innovative charitable programs, volunteerism, and inclusion initiatives of IICF Key Partner Companies, can be viewed here https://online.fliphtml5.com/swww/othg/#p=1
About the Insurance Industry Charitable Foundation (IICF)
Insurance Industry Charitable Foundation (IICF) is a unique nonprofit that unites the collective strengths of the insurance industry to help communities and enrich lives through grants, volunteer service and leadership. Established in 1994, IICF has served as the philanthropic foundation of the insurance industry for more than twenty-five years, contributing $42 million in community grants along with 300,000 volunteer hours by more than 110,000 industry professionals. IICF reinvests locally where funds are raised, serving hundreds of charities and nonprofit organizations, for maximum community impact. IICF is a registered nonprofit organization under section 501(c)(3) of the IRS code. Learn more at www.iicf.org or follow us on social media: @doubleicf.