The Insurance Industry Charitable Foundation (IICF), a nonprofit organization dedicated to helping communities and enriching lives, hosted the 2022 IICF Media Roundtable yesterday, gathering executives from seventeen leading insurance organizations for discussions focused on the state of charitable giving in the industry and major philanthropic and DEI initiatives. At the event, IICF also released the 2021 IICF Insurance Industry Philanthropic Showcase, an annual retrospective of innovative charitable contributions, volunteer projects and DEI initiatives of the IICF Key Partner Companies and made several announcements regarding future IICF programs. This year’s Media Roundtable and Showcase included first-time representation from IICF’s new Life Division.
Presenters from AIG, Burns & Wilcox, CNA, EY, Munich Re America, The Hartford and Verisk shared insights regarding their charitable contributions throughout the community and how insurance businesses can make a much greater philanthropic impact by partnering with nonprofit organizations and working collaboratively through IICF. Key highlights from their presentations and the 2021 Philanthropic Showcase features include just a few examples of outstanding industry initiatives:
AIG (Laura Gallagher): In 2021, AIG donated $27 million in charitable contributions and matching grants. This included $5 million strategically invested by the AIG Foundation to address racial inequality, promote equitable practices, provide COVID-19 relief, and support community resilience; donations to over 3,500 charities through the AIG Matching Grants Program; and over 700 grants supporting colleagues experiencing financial hardship or impacted by natural disasters through the AIG Compassionate Colleagues Fund.
Burns & Wilcox (Patricia Chiodo, Oneil Franso): Burns & Wilcox made a valued impact in addressing food insecurity in 2020 – 2021, donating to more than 50 food banks and distribution centers across the US and Canada. Employees also volunteered 620 hours to local food banks throughout the year in regions where they work.
CNA (Raissa Correa): CNA partnered with the Thurgood Marshall College Fund (TMCF) in creating a scholarship offered to outstanding students from low- or moderate-income communities. Further, CNA’s TMCF Early Innovators Program provides real-world exposure to innovation, technology and entrepreneurship to local high school students from underserved communities, along with a higher education scholarship to each student.
EY (Michelle S. Ng): EY is a longstanding collaborator of Junior Achievement (JA) as part of our Ripples program to promote entrepreneurship and support the next generation. In the past five years, more than 13,000 EY volunteers have contributed their knowledge and skills with JA, impacting nearly 150,000 students across the US.
Munich Re (Cheryl Rosario): Munich Re is committed to building inclusive talent pipelines most notably through their Dare to Dream program that provides high school students throughout unrepresented communities in Chicago with insurance internships. Munich Re also continues to expand their community engagement highlighted in 2021 through new initiatives like tree planting to help locations vulnerable to climate change and donating a car to help veterans with transportation needs.
The Hartford (Sarah Morin): The Hartford donated $1 million to a housing initiative that will provide access to affordable homeownership opportunities through the renovation of 24 homes in the Asylum Hill neighborhood of Hartford, CT. They also committed $1 million for 50 residents of Hartford to attend UConn Hartford tuition-free, and partnered with United Way to align workforce development resources focused on helping young adults gain meaningful employment.
Verisk (Maroun Mourad): During Verisk’s 2021 Volunteer Week, more than 500 participants gathered across 15 countries to volunteer over 2,500 hours and raise more than $10,000 for local charities. Verisk also partners with Team Rubicon and other organizations to help maximize the impact and reach of their efforts with Verisk’s unique data analytics, tools, professional expertise and financial assistance.
“The insurance industry has a longstanding legacy of philanthropic giving, locally and globally, in times of acute need. Throughout the pandemic, and now, as we raise funds in support of Ukrainian refugees, our industry strives to respond quickly and with impact. The Media Roundtable offers a collaborative platform to highlight this dedication to lending a hand up to our neighbors, wherever they may be,” said Hank Watkins, Regional Director and President of Lloyd’s, Americas and Chair, IICF International Board of Governors. “As an industry founded with the purpose of facilitating progress and responding during times of need, we appreciate the opportunity IICF provides for collaborating on philanthropic and volunteering initiatives, enabling us to continue sharing the very best of our industry with the world.”
IICF Key Partner Companies, who provide leading levels of support and strategic direction, and Life Division companies also joining in the discussion yesterday included: Amwins, Aon, AXA XL, Chubb, Hub International, Lloyd’s, Markel, MIB, Swiss Re and Zurich.
IICF also made several major announcements at this year’s Roundtable on upcoming initiatives, including:
IICF: Ukrainian Humanitarian Relief Fund: In response to the crisis in Ukraine, IICF has opened a humanitarian relief fund to help refugees. Proceeds benefit the International Committee of the Red Cross (ICRC), Save the Children and CARE. Donations can be made here.
IICF’s Global Membership Program: IICF’s Global Membership Program will open broadly in May to socially conscious industry professionals who will be able to engage with IICF on an individual basis. Information and registration options are available at https://membership.iicf.org/
3rd annual IICF International Step Up Challenge: Open for registration (https://stepup.iicf.org/) and kicking off on April 25, this four-week exercise challenge is designed to promote physical and mental wellness and team-building, while raising funds for the IICF Children’s Relief Fund.
New IICF.org website: Phase I will launch within the next month, introducing a compelling and dynamic new way to interact with and learn about IICF and its programs.
The IICF Inclusion in Insurance Regional Forums: IICF will host the Inclusion in Insurance Regional Forums, with events in New York, LA, Chicago, Dallas and London designed to engage the industry on actionable diversity, equity and inclusion initiatives while giving back to those in need through IICF Community Grants. To learn more and register, visit https://inclusion.iicf.org/
To read the 2021 IICF Philanthropic Showcase, please visit https://online.fliphtml5.com/swww/fxsd/#p=1
About the Insurance Industry Charitable Foundation (IICF)
The 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.