Breaking Barriers: How Diversity in Risk Management is Transforming the Insurance Industry

The Journey of Tiara Wallace: A Pioneer in Risk Management

Tiara Wallace, the Director of Risk for Invesco US, exemplifies the transformative power of diversity in the insurance industry. Her journey, from claims adjustment to risk management, highlights the importance of mentorship and proactive career pivoting. Wallace's advocacy for risk management careers extends beyond her family, as she frequently shares the benefits of the profession with young people, welcoming individuals from various backgrounds.

The Push for Diversity: A Long Overdue Change

Wallace's observations on diversity in her field reflect a broader issue documented by organizations like the Bureau of Labor Statistics (BLS). While representation of Black and African American employees in the insurance industry has increased, there is still a significant gap at the executive level. Wallace notes a recent push for diversity, not just in race and gender, but also in neurodiversity and professional backgrounds. This push is crucial as the industry faces an impending exodus of experienced professionals.

Creating the Future: Proactive Steps for Inclusion

Wallace's proactive approach to creating a more diverse and inclusive industry involves active participation in organizations and recruiting beyond traditional spaces. She emphasizes the importance of considering different candidate pools, such as Historically Black Colleges and Universities (HBCUs), rural areas, and veteran communities. Additionally, she highlights the need for a friendly work environment for individuals with disabilities. Wallace's advice to aspiring professionals is to think beyond the traditional insurance job roles and explore areas like marketing, cyber, and IT infrastructure.

For readers, Wallace's story underscores the importance of being bold and assertive in career pursuits. Her journey and advocacy serve as a blueprint for fostering diversity and inclusion in the insurance industry, encouraging professionals to seek out and create opportunities for themselves and others.