Department of Insurance hosts historic matchmaking session pairing diverse suppliers with 14 large insurers to increase supplier diversity
News: 2014 Press Release
LOS ANGELES, Calif. - At the 3rd Annual Insurance Diversity Summit, Insurance Commissioner Dave Jones hosted a historic matchmaking session where 14 of the nation's largest insurers met with more than 50 California diverse suppliers in an effort to increase supplier diversity in the insurance market. The commissioner also released the results of a first in the nation insurer governing board diversity survey.
Diverse suppliers from across the state were paired in one-on-one sessions with insurance companies. The matchmaking sessions, coordinated in partnership with My Business Matches, offered California's diverse suppliers the opportunity to present their company's goods and services to insurers, in hopes of competing for upcoming contract bids. By providing a platform for diverse suppliers and insurers to meet, and encouraging insurers to create supplier diversity programs, Commissioner Jones is leading the nation in establishing supplier diversity in the insurance market.
"I created this initiative to focus on diversity issues within California's $123 billion insurance industry, as this is a real and tangible way to make a positive impact on our state's economy," said Commissioner Jones. "Today we took a big step in moving this forward by coordinating a matchmaking session, which is one of the most effective ways to build new partnerships and ensure that more contracts will be signed with our state's talented pool of diverse suppliers."
In addition to the release of the survey results and the matchmaking session, three insurance companies and two stakeholders were recipients of the 2014 Diversity Awards.
CSAA Insurance Exchange was recognized for its successful and innovative approaches to diverse supplier development and for providing increased opportunities to diverse suppliers. Kaiser Permanente received an award for its significant efforts to continue to diversify its board of directors and leadership. Blue Shield of California was awarded for showing a commitment to both supplier diversity and governing board diversity.
Ramon Jones, Regional Vice President of Nationwide, received the Supplier Diversity Trailblazer award for championing supplier diversity and being a leader in moving supplier diversity forward in the insurance industry. Carla Harris, Managing Director of Morgan Stanley, was honored with the Governing Board Diversity Trailblazer award for making great strides in advocating for governing board diversity.
"CSAA Insurance Exchange, Kaiser, Blue Shield, Carla Harris and Ramon Jones are leaders in the field of diversity within the insurance industry, and I commend them for furthering the goals of the Initiative and working with us as partners to ensure its success," Jones added.
Media Notes:
- The results for each of the surveys, along with reports and resource documents, are available at http://www.insurance.ca.gov/diversity/index.cfm.
- Photos from the 3rd Annual Diversity Summit are available on our Flickr page www.flickr.com/ca_dept_insurance.
- My Business Matches is a global matchmaking firm. More information can be found here: https://www.mybusinessmatches.com/.
- For more information about the Insurance Diversity Initiative, visit: http://www.insurance.ca.gov/0250-insurers/0700-coin/Index.cfm.
Led by Insurance Commissioner Ricardo Lara, the California Department of Insurance is the consumer protection agency for the nation's largest insurance marketplace and safeguards all of the state’s consumers by fairly regulating the insurance industry. Under the Commissioner’s direction, the Department uses its authority to protect Californians from insurance rates that are excessive, inadequate, or unfairly discriminatory, oversee insurer solvency to pay claims, set standards for agents and broker licensing, perform market conduct reviews of insurance companies, resolve consumer complaints, and investigate and prosecute insurance fraud. Consumers are urged to call 1-800-927-4357 with any questions or contact us at www.insurance.ca.gov via webform or online chat. Non-media inquiries should be directed to the Consumer Hotline at 800-927-4357. Teletypewriter (TTY), please dial 800-482-4833.
