Committed to Diversity, Equity and Inclusion
For too long, historical biases have resulted in financial inequities within underserved populations. America’s life insurers are committed to addressing systemic inequities by removing barriers to access and providing more inclusive solutions to the communities who need them the most.
Through its Economic Empowerment and Racial Equity Initiative, the American Council of Life Insurers and its member companies are taking concrete steps that will open doors for more American families to achieve financial security.
For example, MetLife recently announced a set of diversity, equity and inclusion (DEI) commitments with financial components totaling more than $2.5 billion by 2030. The following commitments, which include investments, products and services, supply chain, volunteering, and community efforts, are aimed at addressing the needs of underserved and underrepresented communities:
- Originate $1 billion in investments that advance firms owned by women, minorities, and disabled persons.
- Reach $5 billion in spend with diverse suppliers – an increase of $1.6 billion from the amount MetLife’s Supplier Inclusion and Development Program has committed to date.
- MetLife Foundation has committed $150 million in funding to support underserved and underrepresented communities.
- Commit 800,000 employee volunteer hours with a focus on DEI/underserved communities.
- Provide solutions and insights to address the needs of the underserved, including developing partnerships with experts to provide educational content in Upwise™ – MetLife’s new digital financial wellness app.
- Support research that advances understanding of DEI issues. For example, MetLife will share insights from our annual Employee Benefit Trends Study and other research initiatives to help employers as they support their increasingly diverse workforces.
- Continue to advance workforce diversity by consistently achieving top quartile positioning across each ethnically and racially diverse category in the United States, and of female officers globally. Enhance transparency of the link between top quartile positioning and executive leadership performance.
We will provide progress updates on the 2030 DEI Commitments in our annual sustainability report.
The life insurance industry is uniquely positioned to help advance economic empowerment and racial equity throughout the nation. Together, America’s life insurers can help build a more inclusive and equitable world.