Spencer Board Member Bob Thomas of Liberty Mutual Talks DE&I Ahead of Spencer Day

The Spencer Educational Foundation believes diversity, equity, and inclusion in the risk management and insurance industry is an imperative that only makes us stronger. In celebration of Black History Month and ahead of Spencer Day on February 28th, we spoke to Bob Thomas, Spencer Board Member and SVP and Northeast Regional Executive at Liberty Mutual Insurance about the importance of DE&I in the insurance industry and how we can continue to advance these efforts.

Bob Thomas

SVP and Northeast Regional Executive, Liberty Mutual Insurance

How do you think having diverse and equitable representation in the workplace helps current and future employees as well as the employer?

Diverse representation is so important. Many people don’t realize how meaningful it is to under-represented groups to see someone who looks like them or sounds like them, to achieve a role of prominence. It provides hope, inspiration and possibility for many people who perhaps have thought, “I’ll never be able to do that…” I cried the night America elected its first black president. I thought, “Finally, we’ve learned to judge a person by the content of their character, versus the color of their skin.” It opened the door a little bit wider for a whole population – many of whom thought that door would never be unlocked.  I also thought, now the pressure is really on. It’s not enough to just get there – you have to excel there to prove you were worthy in the first place. Companies are made better by having a broader perspective and are better positioned to attract talented employees and clients by being more diverse.

How do you think the insurance industry has done thus far in promoting diversity, equity, and inclusion? Where/how do you think the industry can improve?

The insurance industry continues to make progress in promoting diversity, equity, and inclusion – although there’s certainly room for improvement.  Large organizations, like mine, have dedicated resources and have really started to evolve culturally with DE&I as an essential pillar. Where some organizations are challenged is in size and scale. For many smaller agents and brokers or insurance company field offices, resources can be scarce. It can be more challenging for this part of our industry to demonstrate DE&I in action. For this group I’d advise taking simple, sincere steps.  Acknowledge a desire to do more. Ask your organization for ideas and suggestions. Establish a discussion group focused on DE&I. I think you’ll be surprised and impressed what people will come up with.

What are some ways that Liberty Mutual and Spencer are advancing ongoing efforts of diversity, equity, and inclusion in RMI?

Liberty Mutual and Spencer are passionate about advancing DE&I within our industry. From the establishment of multiple Employee Resource Groups (ERGs), to staff and executives dedicated to HBCU recruiting, to sponsoring scholarships to financially assist students, to providing funding to support the development of college curriculum, Liberty and Spencer are committed to advancing DE&I in our industry. I’m proud to be associated with both organizations and am inspired to continuing finding ways to move our industry forward.

What is a key piece of advice you would give to a student or young professional interested in working within the insurance industry?

For students or young professionals considering their careers, I’d strongly suggest exploring the insurance industry. The beauty of our industry is that we touch just about everything in society. Products aren’t built, services aren’t launched, games aren’t played without our industry being a part of it. So, whatever your passion, there’s a connection to the insurance industry – and a nice living to be made while connecting to your passion. When you enter the industry – network. Get to know someone in Claims, or Underwriting, or Sales. Establish contacts you can lean on to ask simple or complex questions. Everyone can benefit from their own personal network of advisors. Build yours!

Thank you to Bob Thomas for being an integral part of the Spencer Board of Directors!