Chairman's Message

DOING GOOD: OUR PHILANTHROPIC INDUSTRY

One of our agency’s core values is to cultivate community – to improve the places where we live, work, and play. And whether it’s formalized or not, I suspect it’s one of your agency’s guiding principles, too.

As a whole, the insurance industry is committed to community service and charitable giving. According to a recent survey of insurers and brokers conducted by McKinsey and the Insurance Industry Charitable Foundation (IICF), industry-wide giving reaches $560-600 million annually in “cash, grants, and other donations.” The survey also noted a shift toward volunteering, likely driven in part by millennial employees’ desire to make a visible social impact.

There are many reasons for our industry’s philanthropy. Many of us are drawn to insurance in the first place because it is a service industry, and of course, establishing goodwill within our communities is a main driver. Beyond that, there are more self-serving reasons, too: building our businesses’ reputation and recruiting/retaining new talent. According to the McKinsey/IICF survey, “Respondents have noted millennial preferences, such as a desire to work for companies that are involved in charitable causes.”

This issue of Primary Agent highlights philanthropy. You’ll find an interview (page 8) with Danielle Shearer, who recently accepted the Dan Fulwider Award for Community Service on behalf of IA&B Member Agency Howard Hanna Insurance Services. You’ll also find an article (page 12) from IICF, as well as a write-up (page 6) on a recent Make-A-Wish fundraiser supported by IA&B women in insurance.

Bottom line: There are so many reasons to give back and so much opportunity for our industry to make a difference. Keep up the good work!

Until next time,

Richard M. Rankin

Chairman of the Board