This is not the time to ditch Dive in Festival
The Dive in Festival is one of the success stories of the London insurance market. Since it was launched by the then CEO of Lloyd’s, Dame Inga Beale, in 2015, it has turned into one of the largest corporate celebrations of Diversity, Equity and Inclusion (DEI) in the world. It reaches over 50 countries and involves hundreds of thousands of people, often empowering otherwise excluded groups and marking out the insurance industry as a place that welcomes their talents.
A success story. A powerful demonstration that change is possible and that the insurance market can be at the forefront of challenging discrimination, exclusion, prejudice and ignorance.
So, why shut it down? Lloyd’s reasoning is far from convincing.
Nathan Adams, chief people officer at Lloyd’s, acknowledges that the festival has been “a hugely successful initiative”, describing it as a foundation for the next phase of work on culture and talent. “The commercial challenges facing our market now – from skills shortages to technological change – demand a clear, ongoing focus, not just a single moment in the calendar”, he adds.
Significant and lasting impact
Surely, one thing Dive In has proved is that a “single moment in the calendar” can have significant and lasting impact. Its chair for eight years, Jason Groves, communication head at Marsh and a City Councillor, summed up its impact in a heartfelt LinkedIn post:
“From CEOs to graduates, Dive In drew in all those who wanted to make the industry a better place to work. It is why nearly 200,000 people participated in over 1,000 events, created by thousands of volunteer organisers, and raised topics that many had considered taboo.
“I’m proud that we were among the first in the industry to talk openly about mental health, social mobility, faith, neurodiversity, menopause, and the role of carers. We vigorously promoted the idea that women have just as much chance to gain leadership roles as men and sought to boost the visibility of those from minority backgrounds and with disabilities.”
In some of the countries that Dive In reached, challenging prejudice means challenging deeply embedded and often legally sanctioned discrimination. That is not about commercial challenges and skills shortages: it is about human rights and dignity.
Back to the question of why ditch it now.
The MAGA agenda?
There is already the inevitable speculation that it is a response to the President Trump’s anti-DEI agenda and that Lloyd’s has come under pressure from large US insurers and brokers to reign back on its diversity initiatives. One hopes this is not true but it is noticeable how many American companies now rarely talk about DEI and the prominence it once had on their corporate websites and communications now seems to be a thing of the past.
However, it should be noted that several US-owned firms are among the backers of this year’s festival in September.
If anything, this new, hostile climate for DEI is a powerful argument for retaining and building the profile of the Dive In Festival.
Then there is Lloyd’s own potential embarrassment over the investigation into the conduct of former CEO John Neal after reports of a workplace relationship. But that is about holding the mirror up to oneself and being honest about one’s own failings.
The high profile of the Dive In Festival also gave a platform for critics of Lloyd’s and the insurance market, in particular climate change and anti-fossil fuel activists, to protest. They are not going to go away just because there are no Dive In events taking place.
Sadly, the consultation promised by Lloyd’s excludes the one option most people concerned about diversity and inclusion in the market would vote for: a continuation of the Dive in Festival.
If Lloyd’s is really determined to ditch the festival it must retain the Dive In identity. Dive In is a successful, globally recognised brand. People know what it stands for. If the festival is to be abandoned or relegated to the background, the programme that emerges from it should embrace its identity. Anything less would be a betrayal of everything it has achieved since 2015.
David Worsfold 