Equality and the Risk Profession with Elisa Stampf

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

Can you envision everyone receiving equal pay for work of equal value, regardless of gender? Or having full and productive employment and decent work for all women and men, including young people and persons with disabilities, all being paid equally for work of equal value? That vision is the objective of International Equal Pay Day, celebrated annually on September 18.

Elisa Stampf, the Co-Founder and CEO of Insure Equality, is here today to discuss employment equity in the insurance profession. Insure Equality is a non-profit that seeks to create and enforce accountability in the insurance profession and industry in the pursuit of diversity and equality.

Listen for insight into the LBGQT+ stakeholders of the insurance profession.

 

Key Takeaways:

[:01] About RIMScast.

[:36] About today’s episode, where we will talk about equality in the risk and insurance professions with Elisa Stampf of Insure Equality.

[:58] All about exciting, upcoming RIMS events! On September 14th, the Spencer Educational Foundation returns to New York City for its Annual Funding Their Future Gala. The event will be held at the Cipriani on 42nd Street. A link is on this episode’s notes. You can also visit SpencerEd.org.

[1:19] The RIMS Western Regional Conference will be held October 4th–6th in Vail, Colorado. Visit RIMSWesternRegional.com for more information and to register.

[1:31] Head to the RIMS.org/Advocacy page to find information about The RIMS Legislative Summit, which is returning to Washington, D.C. on October 25th and 26th.

[1:45] We are very excited about the RIMS ERM Conference 2023, which will be held November 2nd and 3rd in Denver, Colorado! The theme is Elevate and Evolve. The Conference will be different than years past with some great changes; book your travel plans now! Visit the Events page of RIMS.org or the links in this episode’s notes.

[2:13] International Equal Pay Day is recognized worldwide on September 18. That is the ideal topic to kick off my discussion with Elisa Stampf, the CEO of Insure Equality. Insure Equality is a non-profit that seeks to create and enforce accountability in the insurance profession and industry in the pursuit of diversity and equality.

[2:34] Elisa is based in Chicago. She has an insurance background. She is going to provide perspective on LGBTQ+ rights in the risk and insurance professions and discuss how Insure Equality’s philosophies can improve conditions and inspire change.

[2:58] Elisa Stampf, welcome to RIMScast!

[3:28] Elisa fell into insurance without an insurance degree. In early 2012, she started as an underwriter and worked her way to the home office. She worked in workers’ compensation and then marketing. In 2020, she shifted to the agency side. Within four months, she was being forced out.

[3:59] Elisa wanted to make being in insurance a welcoming conversation and make sure everybody’s voice is brought to the table and included.

[4:23] In 2021, Elisa spent weeks calling every insurance professional she knew, surveying them. Two things came to the top. Everyone had a story but thought they were alone and they were too afraid to say anything. She asked them to send her someone who cares about this and wants to do something.

[5:31] In six months, Elisa found a team of five and a board of twelve and they launched Insure Equality. The inaugural Insure Equality Summit 2023, “A Shift in Perspective,” will take place in Chicago on September 15th. Elisa says it has been a joy, an honor, and a privilege to put together an incredible network of speakers and coaches.

[6:08] The summit features speakers from over 25 states with 17 coaches dedicating their time to help folks navigate their careers. It will be at the Morgan Arts Complex on September 15th. An art gallery is the place to talk about perspective and leave your typical mindset! It will be an incredible day with love, connection, and change.

[7:04] Elisa describes culture as a collective habit that we reinforce daily. It’s how you show up to work. It’s who steps up in the meeting, it’s who you can count on to “do the thing at the time.”

[8:01] Elisa describes her experience of culture at her first job in 2008 at a bank. She believed it was dictated from the top. Now she knows each person’s actions influence the culture of their workplace. It was one of the coolest moments she has experienced to realize that she has an impact. That’s power in the hands of each of us.

[9:23] ]International Equal Pay Day is celebrated annually on September 18th. Elisa tells how employers can ensure they’re working toward equal pay in their organizations. This is a worldwide issue. It aligns along degrees of marginalization by gender, race, or other issue. You can start with a spreadsheet.

[10:28] Line everyone up by demographics and experience. People who spend a long time at one organization often fall behind people who move around. These conversations are about inclusion and good business sense. The insurance industry is not just struggling to recruit but also struggling to retain.

[11:01] Have these conversations proactively, not reactively. Start to reengage your employee population. Make sure the work and pay are equitable for everybody.

[11:27] There are four primary ways employees can contribute to change. They can show up as pacesetters, out in front, or catalysts, who start the change. They can make connections and be conduits for change or be innovators, putting in time, effort, dedication, and work, consistently raising the issue. Do what makes sense for you.

[13:20] RIMS plug time! Sponsor an episode of RIMScast! Contact us at pd@rims.org. For upcoming virtual workshops visit RIMS.org/virtualworkshops for the calendar. Managing Data for ERM is a three-module course that begins September 21st.

[14:03] Optimizing Risk Management with Artificial Intelligence will be led on September 28th by Pat Saporito. Recent RIMScast guest Chris Hansen will be leading Managing Worker Compensation, Employer's Liability, and Employment Practices in the US on November 7th and 8th. Be sure to register for that course!
[14:36] Information about these sessions and others is on the RIMS Virtual Workshops page. Check it out and register!

[14:45] The next virtual CRMP workshop will be September 26th and 27th and it will be led by Joseph Milan. Visit RIMS.org/Certification for these and future workshops. A link is also in this episode’s show notes, as is a link to the full Virtual Workshop calendar.

[15:14] On September 12th, our friends at TÜV SÜD GRC are back with Seeing the Unseen: nVent's Proactive Approach to Fire Risk Detection With Infrared Imaging. On September 18th at 7:00 a.m. Eastern, we’ve got The Digital Personal Data Protection Act 2023, a Fireside Chat, presented by Prudent Insurance Brokers and RIMS.

[15:38] On September 26th, Gallagher returns to present A Road Less Challenged? An Outlook on the Management Liability Market at 10:30 a.m. Eastern Time. On October 12th, AXA XL returns to present Stand Tall: How to Boost your Cyber Posture Against Creative Cyber Criminals.

[15:59] Visit RIMS.org/Webinars to learn more about these webinars and to register! Links are on the show notes. Webinar registration is complimentary for RIMS members.

[16:19] Elisa discusses “Rainbow Washing” and ways companies can show up for the LGBQT+ community. If you change your logo to rainbow colors, use the extra sales income you receive from that change to support the LGBQT+ community. Fund your ERGs. Give to local organizations funding queer youth and mental health services.

[18:16] We don’t need to take our activism to a 10. There are little ways to show up every day. Think about what you’re doing before you do it. The best way to have the conversation about Rainbow Washing is to invite the community into the conversation. The people Elisa has spoken to about it just want transparency or a conversation.

[18:53] It serves the insurance industry to understand their community and their stakeholders. The way to bring them into the conversation is by engaging with them. Attend any Chamber meetings that focus on the areas important to the community. It will bring you into the conversation in a meaningful way.

[20:29] Elisa repeats that you don’t have to go to a 10. It’s about thinking about what you’re doing and opening your ears and your minds to a perspective that is outside of yours.

[20:45] Justin notes that producing an episode like this and participating in the RIMS DE&I Council events helps to open minds to a new perspective. It’s about shifting culture so equity and inclusion become a regular part of the everyday conversation.

[23:24] What fuels the work Elisa does every day are the comments and private messages she gets from people who tell her they thought they were the only people who felt this way, who thank her for being there. The presence of the conversation is a part of the change.

[23:59] Elisa was in the DE&I lounge at RISKWORLD 2023 and will return for RISKWORLD 2024 in San Diego, May 2024. The conversation will be for stakeholders and will speak of certification.

[24:22] In 2024, Insure Equality is launching its certification program, a cohort-based training you can do either with your team or a group of individual leaders, to help you understand who you are, how you work with others and your intention, and how to have that stakeholder conversation within yourself. It’s a business class with a DE&I lens.

[25:34] Elisa’s focus at 2024 RIMS will be on how to have that stakeholder conversation, how to recognize that within your world, and make that manifest for you in your culture. It’s also going to be part of the larger conversation for Insure Equality.

[25:48] Justin thanks Elisa Stampf, CEO of Insure Equality, for joining us here on RIMScast. Justin looks forward to seeing her again for International Podcast Day. 

[26:06] The Insure Equality Summit 2023 will be on September 15th in Chicago. A link is in this episode’s show notes. We’ll be back with Elisa in two weeks!

[26:19] Special thanks again to Elisa Stampf. The link to Insure Equality is in this episode’s notes. Be sure to look for Elisa at RISKWORLD 2024 in San Diego! Check back with us in a couple of weeks; Elisa will make another appearance on RIMScast!

[26:37] Go to the App Store on your phone and download the RIMS App. This is a special members-only benefit. Everybody loves the RIMS app!

[26:56] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let’s collaborate! Contact pd@rims.org for more information.

[27:39] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. The RIMS app is available only for RIMS members! You can find it in the App Store.

[28:04] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[28:19] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com and in print, and check out the blog at RiskManagementMonitor.com. Justin Smulison is Business Content Manager at RIMS. You can email Justin at Content@RIMS.org.

[28:41] Justin thanks you for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!

 

Mentioned in this Episode:

NEW FOR MEMBERS! RIMS Mobile App

RIMS Legislative Summit — Oct 25 & 26, Washington, D.C.

RIMS Advocacy

RIMS ERM Conference 2023 | Nov 2–3 in Denver, CO!

Spencer Educational Foundation — Funding Their Future Gala — Sept. 14, 2023

RIMS Western Regional — Oct 4–6, Vail Colorado

RIMS-Certified Risk Management Professional (RIMS-CRMP)

Dan Kugler Risk Manager on Campus Grant

RIMS Webinars:
The Digital Personal Data Protection Act 2023, a Fireside Chat, | presented by Prudent Insurance Brokers and RIMS. | Sept. 18, 2023

A Road Less Challenged? An Outlook on the Management Liability Market | Sponsored by Gallagher | Sept. 26, 2023

Stand Tall: How to Boost your Cyber Posture Against Creative Cyber Criminals | Sponsored by AXA XL | Oct. 12, 2023
RIMS.org/Webinars

See the full calendar of RIMS Virtual Workshops

Upcoming Virtual Workshops:

Optimizing Risk Management with AI | Sept. 28

Managing Worker Compensation, Employer's Liability and Employment Practices in the US | Nov 7

See the full calendar of RIMS Virtual Workshops
All RIMS-CRMP Prep Workshops

Related RIMScast Episodes:

“Including Disability In DEI Efforts with Alycia Anderson”

“Mental Health Awareness Month 2023”

“Pride Month 2023 with the Rainbow Risk Alliance”

“Risk Insight with AAIN Leadership”

“Taking the ‘Next Steps’ with NAAIA Executive Director and COO Omari Jahi Aarons”
“RIMS DE&I in June 2022: Pride, Juneteenth, and National Indigenous History Month”

Launching DEI Initiatives with Tara Lessard-Webb (2021)

Pride Month: How Risk Pros Can Protect and Uplift LGBTQ+ Employees (2021)

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“Zurich’s Construction Sustainability Outlook for 2023”

“Aon’s 2022 Atlantic Hurricane Season Overview”

“ESG Through the Risk Lens” | Sponsored by Riskonnect

“A Look at the Cyber Insurance Market” | Sponsored by AXA XL

“How to Reduce Lithium-Ion Battery Fire Risks” | Sponsored by TÜV SÜD

“Managing Global Geopolitical Risk in 2022 and Beyond” | Sponsored by AXA XL

RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

RIMS Virtual Workshops

On-Demand Webinars

Risk Management Magazine

Risk Management Monitor

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RIMS-CRMP Stories — New interview featuring Roland Teo!

Spencer Educational Foundation

RIMS DEI Council

RIMS Events, Education, and Services:

RIMS Risk Maturity Model®

RIMS Events App Apple | Google Play

RIMS Buyers Guide

Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.

 

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About our guest, Elisa Stampf CEO of Insure Equality 

InsureEquality.org

InsureEquality.org/Summit Sept. 15, 2023 in Chicago

 

Elisa Stampf "fell" into insurance after a quick stint in banking. Spending most of her time on the carrier side with both regional and national carriers, she was an underwriter for commercial lines and a marketing rep for the Chicagoland area. When she had the opportunity to specialize in Work Comp she designed and implemented a countrywide training program (a personal highlight). Throughout her insurance career, she was able to be a sales leader, a trainer, and an advocate for giving campaigns within her companies. She earned six designations and an MBA all while working and has an insatiable appetite to learn and grow. After a brief visit to the agency side, her exit propelled her to co-found a community that pushes everyone forward and welcomes everyone in.

 

Tweetables (For Social Media Use):

 

“I just started picking up the phone and calling every insurance professional I knew. I said, ‘OK, what’s your story? What have you experienced? What do you like about insurance? What don’t you like?’ Truly taking a survey on the industry.” — Elisa Stampf

 

“What fuels the work that we do every day are the comments that we get from people; the private messages that say something to the effect of ‘I thought I was the only person that felt this way. Thank you for being here.’” — Elisa Stampf

 

“The mere presence, the mere conversation happening, is part of the change.” — Elisa Stampf

 

“What I think we really need in this moment is to pause, to take a breath, to stop, and to say ‘What do we actually need, going forward?’ Because, sometimes the best way to move forward is to take a break and redirect.” — Elisa Stampf