Insurance United Against Dementia (IUAD) set out to raise £10m in five years from when it was created in 2017
The industry-led campaign to raise £10m for dementia research, Insurance United Against Dementia (IUAD), is holding a special day of fundraising next month.
In order to help work towards its goal of raising the total by 2022, the inaugural Insurance Day of Giving on 8 November will see companies from across the industry raising funds. The initiative recently raised over £94,000 through a sponsored trek up Mont Blanc.
Created by Andy Tedstone of PIB Insurance, the day aims to unite everyone across the sector and also increase awareness of dementia, which IUAD estimates affects almost half of the 300,000 people working in the industry - either directly or through a loved one.
Established last year by QBE chairman Chris Wallace and Crawford & Company chief client officer Benedict Burke, IUAD raised over £1m in its first year.
CII chief executive is on the board of IUAD and she said the initiative makes her proud of the industry.
She said: “Most of the people I meet working in insurance, are in the industry because they do care about society and they do care about helping people.
“This is a brilliant way of just giving a lot more visibility to that incredibly well-intentioned heartland of the sector.
“A lot of people who work with consumers really do feel strongly that the insurance market does do a lot of good, but sometimes in the commercial sense it can be difficult to demonstrate that as clearly as an initiative like this can.”
Competitions will take place throughout the day with prizes to be won, including the social media superhero of the day and best team effort for the most donations made by a company.
Staff can also get involved on social media by tweeting and sharing to help spread the word.
Tedstone, who is also on the IUAD board, added: “As an industry that prides itself on protecting people and society in times of crisis, we must play our part in combatting the devastating effects of dementia.
“The Insurance Day of Giving is an opportunity for everyone across the industry to come together and make that difference.
“No matter how big or small, every donation counts. There are 300,000 people working in the UK insurance industry – if we can each raise £1, we could fund 10 PHD researchers for an entire year. I will be doing my bit – will you join me?”
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