1. Allianz Diversity Strategy Lori Callahan General Manager Liability and CTP Claims

2. © Copyright Allianz2 Who is Allianz?  Allianz Australia -One of Australia's largest General Insurers -Serving over 2 million Policy Holders and over 50% of Australia's top 200 BRW Listed Companies -3,300 Employees Locally  Allianz Group -Largest Property & Casualty Insurer in the World -75 million customers in 70 Countries -172,000 Employees Globally

3. © Copyright Allianz3 Group Diversity Strategy  Global Diversity Council - Established in 2007 - To establish diversity as a worldwide goal at Allianz  Why diversity? - Fully tap into workforce talent capabilities - Diverse Teams positively impact performance  But Also Overcomes Basic Business Challenges: -Top quality resources in order to compete in a highly competitive business -Shrinking and Aging workforce -Growth  “What is the Motivation for Diversity?” Survey of Allianz Managers: -“Performance of my team” -“Attractiveness to best talent” -“Competitiveness” -“Customer needs”

4. © Copyright Allianz4 Group Diversity Strategy  Focuses on three areas: 1. Diversity Policy -Discrimination, Equal Opportunity, Complaints/Grievance Procedures and Staff Education (Cultural Diversity Days) 2. Customer Diversity -Diverse Markets and Consumers (eg Islamic ‘Takeful’ Insurance) 3. Women in Management -Capability Development first and Recruitment second

5. © Copyright Allianz5 Group Diversity Strategy 1. Diversity Policy  Highest Positively Ranked Question on Allianz Australia’s Cultural Survey: “Allianz is a safe environment to work in e.g. free of sexual harassment, discrimination etc.” 2. Customer Diversity  Many programs and initiatives 3. Women in Management  Equal Opportunity for Women in the Workforce Agency ‘Employer of Choice for Women’

6. © Copyright Allianz6 Why women?  First some Statistics: -52% of the Population -50% of the Workforce -60% of new University Graduates -80% of the Buying Decisions -50% of all Businesses are Owned by Women

7. © Copyright Allianz7 Why Not? Allianz SE Board:  “If we are looking for high performance individuals to bring problem solving ability and enhance the quality of management, we cannot afford to ignore the capability and potential of women.”  “Not logical for management to be under-represented in 50% of the workforce.”  “We cannot afford to lose out on this input in management.”

8. © Copyright Allianz8 Why Not?  4 recent studies found a link between Gender Balance and Performance: More women in leadership results in Stronger Financial Results 1.Catalyst 2.McKinsey & Company 3.French Study 4.Vietnam Study

9. © Copyright Allianz9 Is it Just Talent?  Do Greater Numbers of Women Make a Difference?  2002 Canadian Conference Board Report - Link between women on boards and good governance credentials -Conflict-of Interest Guidelines -94% of boards with 3 + women -58% of all male boards -Conduct Formal Performance Evaluations -72% of boards with 2 + women -49% of all male boards -Gender Balanced Boards -Pay more attention to audit and risk controls -Considered needs of more categories of stakeholders

10. © Copyright Allianz10 There is Risk  Women may be the same as men  Men may become alienated  Women view strategy cynically

11. © Copyright Allianz11 How is Allianz Achieving This Goal?  Intended Outcomes: -Increase number of Women in Talent Pipeline -Increase promotions of Women into Senior Roles -Increase in Rate of Return-to-Work Mothers  Activity: 1. Survey of Women in Management 2. Develop Flexible Workplace Strategy 3. Diversity metrics include in Senior Management Targets 4. Diverse Candidate Panels used for critical positions

12. © Copyright Allianz12 1. Survey - What would assist?  Mentoring  Networking Opportunities  Leadership Programmes  Flexibility - not Balance  Visibility

13. © Copyright Allianz13 2. Develop flexible workplace strategy  Part Time  Job Sharing  Work from Home  Measuring and Reporting by Business Unit  Higher now than at all time since Measured

14. © Copyright Allianz14 3. Senior Management Targets  Diversity metrics included in Senior Management Targets -Demonstrate activity -% KPI (not quotas)

15. © Copyright Allianz15 4. Diverse candidate panels used for critical positions  All senior position recruitments now include a woman

16. © Copyright Allianz16 Practical Examples of this for Allianz:  Example of a Recruitment Ad: “Do you have a home of your own, a family and now would like to have a job close by? Great – because if you display qualities such as resilience, diligence, empathy, and ambition as a matter of course in your day-to-day family life, you have a lot in common with our successful employees.” “If you want to embark on a new career, we offer you attractive opportunities, a work place close to home and an interesting job at Allianz.”

17. © Copyright Allianz17 Practical Examples of this for Allianz:  Recent Tender for Legal Panel Asked: “As a global company, Allianz recognises the benefit of diversity in its workforce and customer base. Describe how your firm recognises and leverages the benefits of diversity.”

18. © Copyright Allianz18 Is it Only Insurance?  70% of the Law Graduates are Women  20% of the Law Partners are Women  Even once you “make it”, there are problems: Survey on Women in Court – Law Council of Australia “Anecdotal evidence that Gender briefing patterns exist in the legal profession.” Full results in October

19. © Copyright Allianz19 The “BIG” Issue  “On Ramp – Off Ramp Careers” -Re-entry after Maternity Leave -Women more impacted by: -Child Care Gaps -Elder Care -Sudden Family Illness  Helen Allchurch Research -Women need to be asked to return to work -Mere presence of other women makes a difference to the willingness of women to express their need for flexibility

20. © Copyright Allianz20 What are lawyers doing?  Active Women Lawyers Associations (networking, mentoring, issues, supporting women in roles)  Formal Women’s Network Programmes e.g. TressCox’s Connected Women’s Network – Objective: to Create Forum for Female Oriented Networking  International Women’s Day Activities

21. © Copyright Allianz21 What can you do?  Listen  Ask an “Off Ramp” Female to come back to Work  Offer Flexibility without being Asked  Calculate Your Own Diversity Statistics  Brief a Female Barrister  Add Diversity to Tenders  Be Visible  Be a Mentor  Be a Role Model  Be Flexible  Create a Network  Network Yourself

22. © Copyright Allianz22 Conclusion