Why even DEI opponents might call the initiatives helpful

Even brokers who disagree with or reject the idea of diversity, equity and inclusion (DEI) programs at their firms can cite instances where the practices improve their workplaces.

Fully 90% of respondents to Canadian Underwriter’s 2025 Brokerage DEI survey cite workplace benefits from the programs. While that response is strongest among respondents saying they fully support DEI (98%) or accept its value to the corporation (95%), it’s also common for those professing a neutral view (86%) and acknowledged by almost half (46%) of those saying they otherwise reject the initiatives.

CU’s survey asks respondents about numerous aspects of diversity, equity and inclusion (DEI) issues faced by brokerage firms. The research, now in its fourth year, was made possible with the support of Sovereign Insurance.

Among cited benefits, 70% of respondents say DEI programs foster mutual respect and help create a welcoming environment, another 52% say it promotes fairness and transparency in company policies, and 48% say programs encourage personal growth.

What’s more, 45% say DEI initiatives encourage promotion and hiring on merit, noting they see evidence of promotions from within at their companies. And 43% say it helps with collaboration and team cohesion.

Many verbatim responses from this question group stress ingrained prejudices exist within their organizations and express doubts DEI programs can change minds. As in past surveys, several verbatim respondents emphasize hiring should focus strictly on merit.

In terms of how work environments are improved, 50% of respondents say leadership support for DEI means employees are empowered and 49% say leaders ensure concepts around merit are transparently described to all employees. A further 46% say diverse leadership teams are a key benefit, while 45% cite a tendency for DEI programs to ensure decisions prioritize employees, and 41% note leadership shares in the decision-making process.

Inconsistent buy-in

Still, not everyone agrees. A sizable portion of individual survey respondents (91 in total) say they either accept DEI as a business necessity, are neutral to it or disagree with the concept. Their reasons include a sense it’s not fair to exclude people from DEI initiatives because they’re not from a marginalized group (55% overall, 59% for those who are neutral to DEI and 60% for those who oppose it).

In a verbatim response, one broker suggests DEI can evolve naturally if people of different backgrounds simply wind up in the same workplace. “I work in a great shop overall. We are a mixed bag and play well together,” they say. “Not because of any rules, but because that is how we are wired.”

Many of those 91 respondents also say DEI can lead to divisions and resentment (33%) or encourage tokenism of marginalized communities (23%).

CAIB New Edition 1.0 – a New Standard for Broker Education Image

Insights Paid Content

CAIB New Edition 1.0 – a New Standard for Broker Education

Preparing brokers to navigate an increasingly complex insurance landscape.

By 

Sponsor Image

Meanwhile, respondents indicating they’re committed to DEI (129 respondents) cite its ability to create fair opportunities for everyone (78%), foster unity and collaboration (56%) and build authentic representation (49%).

“It helps to ensure that those that are truly qualified are not overlooked,” says a Gen X woman at an urban Ontario brokerage.

Committed supporters also say the initiatives enhance innovation and problem solving (43%) and make work easier and better. An East Coast broker says she supports DEI, “because it is the right thing to do…I would never work for an organization whose values are so misaligned from mine.”

Think it over

This year’s survey also asked those less supportive of DEI what might change their minds.

The 94 respondents in that group say they’d view DEI more favourably if it ensured all employees would benefit (44%), that it would emphasize valuing the employee (37%) and advocate for fair wages and work-life balance (31%). “The best DEI initiative is a well-paid, supportive, secure job,” says a verbatim survey response.

Transparency about program goals is also key to acceptance (18%), with respondents stressing they need to know it’s not a check-in-the-box initiative.

To better explain the benefits, those fully committed to DEI say they’d focus on collaboration not division (69%) as their top tool for persuasion. They’d further stress DEI’s role in ensuring work-life balance and wage fairness (58%), its ability to help management value employees (56%), and ensuring all employees benefit from the initiatives (55%).

Further, one verbatim survey comment notes DEI makes brokerages more “representative of the communities that we operate and live in.”

And customer connections matter, says a Gen X broker in a large Ontario city. “We cannot understand the needs of our diverse clientele if we don’t have diversity ourselves. Especially nowadays, women are making many of the financial household decisions, and when a brokerage is mainly men, they don’t have insight into how to sell to women (as one example),” she tells the survey.

“And what [about] the insurance needs of immigrants, both commercially and personally? If everyone at our brokerage (especially the leadership) comes only from a male, Judeo-Christian background, we are going to be ignorant…about potential customers.”

Phil Porado

Phil, an award-winning journalist with over 30 years of experience in financial topics, has been managing editor of Canadian Underwriter for more than three years.