Briefing: Why social mobility matters

It is a real privilege to contribute to Insurance Times on a quarterly basis and I’m looking forward to sharing my thoughts on the industry, its challenges and its opportunities during this column series.

While I have spoken publicly about social mobility before, I can’t think of a better place to start this content series than by addressing a topic that is close to my heart.

When I reflect on my introduction to the insurance industry, it is impossible not to acknowledge the barriers still faced by many young people whose upbringing has not benefited from a familial network, generational connections or the ‘right’ degree.

It remains true that determination, grit and relentless curiosity are often not enough to open doors.

Too often, raw potential goes unseen or undervalued simply because it does not fit into the traditional or familiar talent mould. Without access to professional networks or tailored guidance, many young people never even reach the starting line that showcases opportunities in our sector.

Many of the peers that I started my career alongside have done well in this industry. Others, meanwhile, did not manage to break through – but not because they were lacking in talent.

What they lacked was opportunity, exposure, connections and, potentially, a boss who cared enough to present them with a chance. This remains the single biggest factor in springboarding a career.

While nepotism is rife in many industries – and never more so than in graduate schemes – character and merit are often overlooked in favour of unofficial elite networks.

This paradigm is no longer acceptable in an industry that is making huge strides in all manner of initiatives addressing equality of opportunity. We cannot promote inclusion on paper while maintaining exclusion in practise.

Walking into an office where everyone seems to speak a different language or lives to a different set of social norms, conversations around class, education and even where you live can fuel imposter syndrome. This has an inevitable impact on an individual’s confidence – a silent, daily hurdle.

These are not just passing feelings. They are persistent reminders that success often has an unwritten dress code – one that many feel they do not fit.

As an industry, we need to stand up and demonstrate that while success is a privilege, it is not reserved for a few, but is instead a possibility open to all.

Economic motivations

Social mobility is not just a moral imperative – it is an economic one too, based in sound business principles.

As the insurance sector continues to face a talent shortage, we need to broaden the funnel.

Ageing demographics and evolving risk landscapes mean we need fresh minds with diverse perspectives more than ever. According to recent Insurance Times analyses, retaining and attracting young and mid‑career talent has become a wide ranging and pressing strategic need.

Talent comes in many forms. For example, a 17‑year‑old care leaver with empathy, insight and a willingness to learn, or a first-generation university graduate with a desire to make difference.

People who are ready, hungry, inquisitive and with a willingness to work come from all walks of life – but an invisible barrier can often determine the successful from the overlooked.

We must ask ourselves are we building a system that identifies raw potential, or one that filters it out too early?

What can we do?

We are trying a number of initiatives within Specialist Risk Group (SRG). These include:

1. Forming partnerships with youth and social mobility charities.
2. Offering paid internships and apprenticeships, not just shadow days.
3. Using structured hiring practices to mitigate bias.
4. Mentor openly and share career advice.

Imagine the impact of a concerted effort by the industry to try similar practices. Thousands of young people across the UK could gain access to meaningful careers, while the insurance industry could be enriched by their diverse perspectives coming into the workplace.

Think of the power we would unlock if we stopped looking for people who fit in and instead started looking for people who stand out in new ways.

Singular success stories do not fix a system built on legacy and inherited advantage, but they can act as a blueprint for an alternative view of the future.

Insurance must evolve – not just in terms of technology and products, but in the composition of its people.

The most innovative propositions come from diverse minds working together. Opening doors for people from different backgrounds is not charity – it’s smart business.

And most importantly, it is the right thing to do.