Allianz Diversity Strategy

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

2. 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. Global Diversity Council Established in 2007 To establish diversity as a worldwide goal at Allianz Group Diversity Strategy • 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. 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. 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. 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. 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. Why Not? • 4 recent studies found a link between Gender Balance and Performance: More women in leadership results in Stronger Financial Results • Catalyst • McKinsey & Company • French Study • Vietnam Study

9. 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. There is Risk • Women may be the same as men • Men may become alienated • Women view strategy cynically

11. 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: • Survey of Women in Management • Develop Flexible Workplace Strategy • Diversity metrics include in Senior Management Targets • Diverse Candidate Panels used for critical positions

12. 1. Survey - What would assist? • Mentoring • Networking Opportunities • Leadership Programmes • Flexibility - not Balance • Visibility

13. 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. 3. Senior Management Targets • Diversity metrics included in Senior Management Targets • Demonstrate activity • % KPI (not quotas)

15. 4. Diverse candidate panels used for critical positions • All senior position recruitments now include a woman

16. 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. 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. 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. 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. 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. 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. Conclusion