4 Ways Insurance Agencies Can Give Back

The insurance industry gives back to communities locally and globally in a big way. According to a survey conducted by the Insurance Industry Charitable Foundation (IICF) in partnership with McKinsey & Company and the Insurance Information Institute (I.I.I.), charitable giving across the P&C industry – from the largest carriers to the smallest agencies nationwide – has gone up 15% between 2011 and 2014. In fact, the P&C Industry donates more than $1 billion to charities.

There are many reasons for the increase in charitable giving among our industry including the importance of corporate social responsibility among consumers and employees.

How can your agency begin giving back, if you aren’t already doing so? Following are 3 ways to have your agency and staff help make a difference:

  1. Donate to an organization that means something to you. This may involve contributing funds as a result of a specific event in or outside your area. For example, you may participate in disaster relief after a hurricane or earthquake. When doing so, be sure you check the organization’s track record to ensure the charity is legitimate and to find how the money is spent. You can you do this by visiting watch dog sites Charity Navigator or Charity Watch.
  2. Volunteer with a community outreach program. For example, during the during the holiday season think about selecting a local charity that provides food, housing and other services to residents in need. Your agency’s staff can be involved in sorting perishable and non-perishable food items and toys, and organizing the food bank. The important thing is to start simply and easily.
  3. Create a team in your agency to participate in large events, such as races, walks, local days of service, etc. For example, your staff can participate in a breast cancer walk affiliated with a national cause or get involved in the insurance industry’s volunteer week program through the IICF.
  4. Empower employees to organize a charity committee and provide a budget and the autonomy to make decisions and reach out where they see fit. Ask for a volunteer to serve as the agency’s charity coordinator and perhaps come up with a name that reflects your commitment to giving back (“XYZCares”). Your staff may select charities that are personal or based on research they undertake to find out what areas are underserved in the community and where they can make a difference. This is not only a way to give back but also creates a bonding experience for your staff.

Be sure to spread the word about what you are doing to help promote the causes and get others involved as well as to let people know about your agency’s commitment to giving back. You can do this on your website and social media through photos and posts.