PARADIGM PROTECTION NEWSLETTER SPRING 2025 www.paradigm.co.uk/protection
CONTENTS 4 Protection Market Update Paradigm Protect Mike Allison 8 Cirencester Friendly The Longer Financial Impact of Illness 10 LV= General Insurance Being a Black Woman in the Insurance Industry 12 Paradigm Introducing our New Mental Health and Wellbeing Hub Riona Mulherin 14LV= Overcoming 'Unqualified Objections' to Protection 17 The PI Desk The PI Desk launches with Paradigm 18 Paradigm Celebrating Women's History Month in the UK: Reflecting on the Past and Embracing the Future Riona Mulherin
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In the early days after the announcement, we had a discussion with them on a number of areas, some they had considered, and some they hadn’t. What started as a “quick consultation” with the stakeholders has turned in to a very long one, potentially opening the number of topics for consideration further. I believe we shall know the full extent soon and then the work will begin with insurers and firms. Notwithstanding that, the market continues to move on. In general it seems to be flat, consistent with previous years. There is nothing as of yet that has got customers waking up in the morning with a desire to fully cover all of their liabilities with protection policies! Rumblings in the market for increased IHT Planning is a focus of any wealth firms (more of that below), and there has been a rising demand for information on unemployment cover – perhaps a feature of economic uncertainty brought about by the hikes in NI costs for employers. Again we are working on a potential product solution here too. One of the common pieces of feedback we receive about life assurance from various market studies on consumers is that it's percieved to be too expensive. The UK does in fact have a very competitive market despite the exit of AIG and Aegon, and coupled with competition as we all know, comes dropping prices. Mike Allison Director of Protection Paradigm Protect Protection Market Update 04 SPRING PROTECT NEWSLETTER Welcome to the latest edition of the Paradigm Protect Newsletter! As ever, we try to bring you some different perspectives via a range of topical articles from insurers. This edition includes a thought-provoking article from Lesley Wright at LV= GI about her rise within the Financial Services as a black woman. The article outlines what she feels has made her a success and how she is encouraging others to join the insurance world. We look at the massively important role of mental health amongst adviser firms and how, at Paradigm Protect, we are trying to help our firms support themselves and their employees to better mental health by developing our ‘Mental Health and Wellbeing Hub’, which you can view here. There is an interesting article about something that is often NOT considered when looking at Income Protection solutions for clients - the long-term effects of illness on financial wellbeing. I am sure you will find each of the articles of value in some small way at least! The Market In terms of the planned FCA Market Review, we are still not fully sure what the full scope will consider.
05 SPRING PROTECT NEWSLETTER Continued on next page... The graph below shows that pricing for ‘Life Cover’ is generally on the decline. When we look at base levels in 2023 prices are around 7.5% for Level Term: You may have seen them pop-up more on Solution Builder recently. This is because they have broadened their scope in the life market, reduced minimum premiums, and added a more than generous multi-product discount. When you look at the quality of their Income Protection product it is well worth looking at carefully, especially if your multi–product quotation is close to more established Providers. One other mention I should make is for the continued improvements to those Providers who offer alternatives to those who, for one reason or another, cannot get “traditional” levels of cover due to underwriting. National Friendly highlighted their product to me earlier in the month – Friendly Shield. There are no medical questions, which is one of the perks of this cover, and as long as policy holders work 16 hours per week they can obtain a range of benefits payable due to injuries and sickness. Smoking status does not affect the cost, nor does occupation. They will ask for occupation and salary on the application form, to ensure it is not one of the few occupations they exclude. A real champion for those who need access to some sort of cover! Broadening the requirement - IHT As we are now more than familiar with the Autumn budget and its implications, we know that there are proposed significant changes to Inheritance Tax (IHT) regulations, aiming to increase tax revenues and address perceived inequities in to the system (allegedly). Here's an overview of the key changes and their potential impacts: 1. Freezing of the Nil-Rate Bands • Current Thresholds: The standard nilrate band remains at £325,000, and the residence nil-rate band at £175,000. • Extension: These thresholds, previously fixed until April 2028, are now extended until April 2030. During the heady days of the pandemic I used to Google life assurance to see what consumers were looking at… Life Cover searches rose dramatically but then dropped again, and now have remained pretty consistent. However, we have recently seen an increase in Income Protection quotes on Google (see below) we then need to look at what customers mean by that term. Often, they may mean Unemployment Cover (we do make our terms complicated in this industry don’t we?). So, we are looking at some potential solutions so please “watch this space” or at least our website for updates. Talking of Income Protection, one of the biggest independent Providers of that product for us has been The Exeter.
06 SPRING PROTECT NEWSLETTER The impact being, as property values and personal wealth grow over time, more estates may become liable for IHT, increasing the tax burden on beneficiaries. 2. Reforms to Agricultural and Business Property Reliefs • Current Relief: Agricultural Property Relief (APR) and Business Property Relief (BPR) can offer up to 100% IHT relief on qualifying assets. • Changes Effective April 2026: ◊ Relief Reduction: The 100% relief will apply only to the first £1 million of combined agricultural and business property. Values exceeding this threshold will receive a 50% relief. ◊ AIM Shares: Shares listed on growth markets, such as the Alternative Investment Market (AIM), will see BPR reduced from 100% to 50%. The impact of these being that high-value estates, particularly those with substantial agricultural or business assets, may face increased IHT liabilities. This change could affect succession planning for family businesses and farms. 3. Inclusion of Pension Funds in IHT • Current Exemption: Unused pension funds and certain death benefits are typically exempt from IHT when passed to beneficiaries. • Change Effective April 2027: Most unused pension funds and death benefits will be included in the persons deceased estate for IHT purposes. Impact: Beneficiaries may face higher tax liabilities on inherited pension assets, prompting individuals to reassess retirement and estate planning strategies. 4. Shift to a Residence-Based System • Current System: IHT liability is determined based on an individual's domicile status. • Change Effective April 2025: The system will transition to a residence-based framework, where individuals residing in the UK for at least 10 out of the last 20 tax years will be considered "long-term UK residents" for IHT purposes. The impact being non-domiciled individuals residing in the UK may become liable for IHT on their worldwide assets, necessitating a review of their estate planning. There have been significant reactions and criticisms to the proposed changes, with business leaders like Sir James Dyson argue that these changes could harm family businesses, potentially leading to job losses and reduced economic contributions. Even some Labour MPs from rural constituencies, have expressed concerns that the new IHT rules could adversely affect smaller family farms, urging for higher relief thresholds. What it means, is that the changes to IHT levels represent a significant shift in the UK's taxation landscape. It does open up estate planning opportunities to a broader client base including the use of a number of tools that can lead to protection advice being sought by huge cohorts of people, who previously didn’t understand the value of such policies. Claims Season Yes the claims season is upon us when most Insurers will tell us what percentage have and haven’t been paid, and I thought I would take the opportunity to highlight one
07 SPRING PROTECT NEWSLETTER of the first I have seen this year from the Cirencester, not least of all because it does “bust some myths” about Claims – and this information is and continues to be good for advisers and consumers alike. Please do not ever forget that claims history CAN be used as part of a rationale for recommending a product. Cirencester highlights are: • 95.8% of claims paid, the same figure as in 2023 • 33% of claims related to musculoskeletal issues and arthritis, up from 25% in 2023 • 21% of claims related to accidents • Average age of male claimants is 40 and female claimants 42 • 47.5% of claims were from millennials (aged 27 to 41) • Oldest claimant 65 years old, youngest claimant 18 years old • 95.1% of claims were made after a deferred period of four weeks or less • Average length of claim was 62 days • Average annual payment £4,757. When we are talking to clients about helping them to pay their mortgages, if ill or due to an accident, don’t forget to show them that “people like you” bought and claimed this way – not dissimilar to what we see on Amazon! Income claims aren’t for the elderly as seen above. Given the average age of a first time buyer is around 35, these are happening probably even before they move from their first house! Events I would just want to give a shout out to our upcoming events this year which I know are a source of great information from what we have fed back. Have a look at the schedule HERE. Once again, thank you for your continued support of our proposition. We are continuing to add to it to broaden the products and services we offer to you, and to keep what we do market leading. EVENTS Register Here Exeter Mortgage & Protection Workshop 29th April 2025 Paradigm Online: Protection Webinar 30th April 2025 Colchester Mortgage & Protection Workshop 20th May 2025 Paradigm Online: Protection Webinar 10th June 2025 Watford Mortgage & Protection Workshop 12th June 2025 Paradigm Online: Protection Webinar 2nd July 2025
The start of the new year signals many different things – fresh resolutions, detoxing from rich food and alcohol and the start of the spring school term. It also brings a wave of coughs, colds, flu, norovirus and in the last few years, Covid. This year seems especially bad, with the head of the Royal College of Emergency Medicine describing the pressure on hospitals as “unacceptably awful”. Fortunately, the majority of people will recover from their illness in just a few days without the need to visit hospital, but longterm illnesses and injuries are much more common than many people think. In our recent survey with 2,000 UK adults, we found more than a quarter (27%) have taken a month or more off work sometime during their career. Of these people, the average time they had been away from work was four and a half months, more than a third of a year. This is a significant amount of time and is likely to impact income. Only around half of employers offer full pay for those who are on long-term sick leave. About a quarter of employees must rely on Statutory Sick Pay (SSP), which currently stands at £116.75 a week and is available for 28 weeks1. The rest will receive Occupational Sick Pay, which is set at the discretion of the employer, which will be higher than SSP but lower than full salary. For those who are self-employed, there is no safety net. No work means no pay. As of October 2024, there were almost 4.4 million self-employed workers in the UK and this figure is growing year on year2. Even just a month off work can leave people struggling financially, let alone four or more. Up to a third of UK adults have either no savings or less than £1,000 in a savings account. Two thirds of people believe The Longer Financial Impact of Illness Victoria Margesson Proposition Manager Cirencester Friendly 08 SPRING PROTECT NEWSLETTER
they wouldn’t be able to last three months without an income without borrowing money3. A prolonged period of sick leave will not only affect these people financially in the short-term as they try to find money for day-to-day bills, but the knock-on effects can also last for years. SSP is the largest employment issue that people come to the Citizen’s Advice bureau for help with. Nearly 50 people a day contacted them about it in 2023/24, looking for advice on how to manage financial issues and where to turn to for support to maintain the basics of daily life4. These inquiries are likely to be the tip of the iceberg, with many more people trying to cope on a reduced income. Falling into debt doesn’t just affect people financially. It can affect them mentally, physically and emotionally. A study from the Royal College of Psychiatrists found that half of all adults with a debt problem also live with mental health issues5. Being in debt is associated with shame and guilt and is one of the main reasons people don’t ask for help at the first sign of a problem. Too often this approach leads to the debt spiralling out of control and becoming a real crisis that takes much longer to recover from. It can damage their credit rating, which can seriously limit their future financial options. Income protection has the power to help people, not just during a moment of crisis but also to shield them from the long-term impact of debt, which can be so harmful to their health and their happiness. Covering the essentials really can change lives. 1 In sickness and in health: Why Statutory Sick Pay needs further reform - Citizens Advice 2 UK self-employment figures 2024 | Statista 3 UK Savings Statistics 2024 - Saving Facts and Stats Report | money.co.uk 4 In sickness and in health: Why Statutory Sick Pay needs further reform - Citizens Advice 5 Debt and mental health | Mental Health Foundation 09 SPRING PROTECT NEWSLETTER
My name is Lesley Wright & I’m a Strategic Account Manager in the Intermediary sector for LV= GI. My history I joined Legal & General Insurance at age 18, back in 1997, straight out of college and wanted a ‘proper job’. I’ve always been keen on progression, I’ve had a range of job roles throughout my career, Team Leader, Trainer, Service Delivery Manager, Claims Supplier Account Manager, New Business Lead with my most recent role being Intermediary Strategic Account Manager. My career has always run parallel to my life, being a wife, a homeowner, a mother and other entrepreneurial ventures outside of insurance, I even own a butchers shop. My journey - Being black at work I've always remained true to myself, and I've discovered that developing my personal brand has been crucial to my success. This has been important to me as a black female, my “style” is often different to my audience, being understood has been difficult at times. I’m a confident person and many times my passion has been mistaken as aggression, especially as I gesticulate allot and have long nails. When I’m quiet this has been mistaken as lack of confidence, rather than me giving others a chance to speak and be heard. There have been many instances where I’ve been given feedback…from someone that doesn’t look like me, and whilst I have taken feedback on board, I do find myself “filtering” this feedback, feedback helps me see what “they” have observed so that I can alter my approach in the future, should I choose to. At times feedback can feel demotivating, they’ll never understand the way I felt or why I acted a particular way – they’ve never lived in my shoes. I’ve always felt that as a black woman I’ve had to work twice as hard to be recognised, adapting my approach in order not to be perceived as the “angry black woman” stereotype that is unfortunately one of the many labels used for black women. Back in the late 90s, I observed that there were no people that “looked like me” in senior positions. I set myself an ambition to be the first black Service Delivery Manager for whole of the Household Claims Department. I’m proud to say that I achieved this in 2007. It was important for me to ensure that I used this senior platform to create an environment and educate others at every level on the struggles that black people face in this corporate arena. I made sure that my team leader group was very diverse, white, black, Asian, male, female, straight & gay, job-sharing mothers etc. I thought it was important that the population of contact centre staff had access to Team Leaders that all has something different to bring to 10 SPRING PROTECT NEWSLETTER Lesley Wright Strategic Account Manager LV= GI Being A Black Woman in the Insurance Industry
the table. I transitioned into the role of Claims Supplier Account Manager, where I studied and earnt my qualification from the British Disaster Management Association (BDMA). Now imagine walking into meetings as a Black woman with this qualification, speaking the same language of building construction and restoration techniques when the majority of my peer group were white middle-class males. Me simply being in a room would turn heads. This wasn’t always a comfortable situation for me, but I used my work ethic, boldness and confidence to shine through and prove my ability to others, to rub out any preconceived judgements. Where am I now? I can honestly say that now, in 2025 I’m living my best ‘working’ life, I’m comfortable in life and within my role and have taken advantage of various opportunities to “Give back” and share my experiences with others to leave them with better insights and to encourage them. I’m very proud of what I have achieved over my 27 years in Insurance, I love working with people and building strong relationships both internally and externally. I’ve used my experiences to help create ‘safe spaces’ for myself and for others to have open and honest conversations to overcome challenges. I’ve naturally become a mentor 11 SPRING PROTECT NEWSLETTER to both my peers and senior management encouraging open dialogue around diversity and inclusion. I’ve spoken on stage to the Mortgage Market discussing the lack of diversity within the sector. I post regularly about my experiences on LinkedIn, keeping the topic alive. I’m part of our company’s Social Mobility Network, within this I work with a charity, going into schools often in underprivileged and diverse towns and cities, talking to Year 12 students about my journey and supporting them in a programme of work that includes communication, networking, interview techniques etc. I’d encourage people seeking out Race conversations, ask the difficult questions to educate yourself, be open to learning, create safe spaces to understand cultures and beliefs, you don’t have to agree with them, but you need to have a knowledge of them to get by in this ever-changing diverse world. With more people of colour in senior positions, development conversations with the upcoming generations will be more relatable. They say, “people buy people”, I 100% believe this, stay true to yourself! Connect with Lesley on LinkedIn.
12 SPRING PROTECT NEWSLETTER In the fast-paced world of financial services, we know that maintaining your mental health and wellbeing can often be a real challenge. Indeed, the Mortgage Industry Mental Health Charter (MIMHC) Mental Health & Wellbeing Report 2024 revealed some shocking statistics regarding the wellbeing of those working in our industry, such as: • 21% of mortgage industry workers reported that their mental health is poor or of concern, up from 14% in 2023 • 41% rated their mental health as excellent or good, a decrease from 44% in 2023 • 37% said their mental health was satisfactory, down from 41% in 2023 • 62% of respondents worked more than 45 hours per week, an increase from 58% in 2023 • 22% reported not getting enough sleep on any night of the week, up from 18% last year • 30% said their work/life balance had somewhat worsened in the past 12 months, up from 19% Clearly, these statistics highlight the ongoing challenges that those in the mortgage industry are facing regarding mental health and the need for continued support and resources. At Paradigm, we understand the unique pressures faced by financial advisers and are committed to providing the support needed to thrive both personally and professionally. That's why we have launched our brand new Mental Health and Wellbeing Hub, a dedicated space designed to offer a wealth of resources and tools to help you manage stress, improve work-life balance, and enhance your overall wellbeing. You will also be able to learn more about Mental Health First Aiders, the MIMHC and important dates in the mental health calendar that you can get involved in, to raise awareness and open up conversations about mental health and wellbeing. Finally, you can also find details about charities who can provide additional resources and assistance to help you, or someone you know that is struggling, to navigate challenging times. We are often referred to as the ‘Paradigm family’ and this is something we do pride ourselves on; we try to support all of our members wherever possible and offer a community of support. If you are struggling, please do speak to someone – we will be here to help if we can. Here to support you! We invite you to explore our Mental Health and Wellbeing Hub and take advantage of the resources and support available. By prioritising your mental health and wellbeing, you can enhance your overall quality of life and achieve greater success in your career. As always, we hope you find the new hub helpful and if there is anything Paradigm can do to support you, please get in touch. You can call us on 03300 536061, email us on [email protected] or you can request us to call you back by completing the short form here. Introducing Our New Mental Health and Wellbeing Hub Riona Mulherin Director of Marketing & Operations Paradigm
When approaching the subject of protection with clients, it’s important to consider the perception your client holds over their level of financial resilience and how this might impact the conversation. Financial resilience is a concept we explore closely within our Reaching Resilience report. In our survey, we saw that 7 in 10 workers would rank themselves to be “financially resilient” or “very financially resilient”. In the rest of our report, we very quickly uncovered this theme of an optimism bias which plays throughout the research. So, if your client holds these assumptions about their financial security, how can you be prepared to handle what I call “unqualified objections”? “I would be able to rely on other sources to get by.” When asked what they’d rely on if they couldn’t work because of illness or injury for more than 2 months, the top three responses were savings (47%), occupational sick pay (32%) and partner’s income and savings (19%). As part of a good fact-find, you might already have the information at hand to encounter these objections. You can open the conversation up to handle these objections face on by asking: What would you turn to if you couldn’t work because of illness or injury? “It would only impact me.” Your client might not explicitly hold this assumption, but another insight from our research demonstrates the wider impact a loss in income has. The average UK worker has 3 people who rely on their income. In this year’s research, we included pets into the fold, and found that an additional 29% also have a pet that depends on them for food, shelter, and general wellbeing. It’s likely to be something that crops up 14 SPRING PROTECT NEWSLETTER Carl Heard National Account Manager LV= Overcoming “Unqualified Objections” to Protection
15 SPRING PROTECT NEWSLETTER organically in your conversations when talking protection, but expanding the scope of what we typically define as a dependent can get your clients to consider who their income supports. Responses from our survey included children, grown up children, stepchildren, parents, and even housemates. Consider asking clients: Who does your income support? This opens the discussion for what the impact would be for them. “It won’t happen to me.” We asked workers what they consider their chances of suffering a serious illness, being off work for 2 months or more due to illness or injury or passing away within the next ten years. Nearly half of the working population don’t believe that any of the listed events will happen in the next decade. We also saw that people were slightly less likely to consider themselves to be at risk of being off work due to illness or injury compared to suffering a serious illness. The LV= Risk Reality Calculator, is a great tool that puts into perspective the individual protection risks your client faces before retirement. When it comes to overcoming objections or other protection sales skills, we’re here to support you. Our latest Reaching Resilience report presents protection insights to help power more impactful conversations with your clients. Unless stated otherwise, the data used in this report comes from a survey of 2,720 nationally representative UK workers conducted for LV= by Opinium between 15 – 25 October 2024.
We are delighted to announce a new Professional Indemnity (PI) insurance strategic partnership with The PI Desk. The PI Desk offer in-house expert underwriters have a wealth of experience looking after the PI insurance needs of IFAs and Mortgage, GI & Protection Intermediaries. They assess every submission so you know that their PI cover reflects your specific circumstances. The team have been writing financial services business since 1998, and the PI Desk was launched in 2013 as an independent underwriting business. The PI Desk business is now very well established and has built successful relationships with clients, insurers, commercial broking intermediaries, bringing quality and competitive products to the direct client and wholesale broking market. The customer service offered to clients has been a key reason for the success of The PI Desk, and even today, as long as a completed application is received the aim is to get a quote to you within 48 hours. To get in touch with The PI Desk, you can speak to our dedicated contact Danny Bower on 0114 387 7013 (don’t forget to mention you’re a Paradigm member), or you can email [email protected]. To obtain a quote, you can use the proposal forms on the website here. This new arrangement also sees an end to our partnership with Marsh Commercial. Unfortunately, the levels of service encountered by our firms have not been to the standards expected and this has caused unnecessary and unwelcome frustration for some firms. As I am sure you are aware, Paradigm continually strives to provide you with access to the best possible specialist third party support and it is important that these partnerships reflect both our own standards and the standards and levels of service our firms expect. We therefore look forward to a long and successful partnership with The PI Desk. If you have any queries regarding this new arrangement, please contact your Paradigm Business Development Director who will be delighted to discuss this with you, or request a call back here and we’ll be in touch. 17 SPRING PROTECT NEWSLETTER The PI Desk launches with Paradigm
18 SPRING PROTECT NEWSLETTER8 March is a significant month for women around the world, as it marks both Women's History Month and International Women's Day. In the UK, Women's History Month is a time to celebrate the contributions of women to society, culture and history. It is also an opportunity to reflect on the progress made towards gender equality and of course, the work that still needs to be done. Women's History Month Women's History Month originated in the United States in 1987 and is now celebrated every March by many countries across the globe. It aims to highlight the oftenoverlooked contributions of women throughout history in various fields such as politics, science, arts, and social justice. I believe that reflecting on women's history is crucial for two key reasons... Firstly, it helps to acknowledge and celebrate the achievements of women who have shaped our world. By learning about these trailblazers, we can draw inspiration and continue to push for progress in our own lives. Secondly, it provides an opportunity to address the historical and ongoing challenges that women face; understanding the barriers that women have overcome can help us address the systemic inequalities that persist today. In the UK, Women's History Month provides a platform to recognise the achievements of women from various backgrounds and fields, from pioneering scientists like Rosalind Franklin, suffragettes like Emmeline Pankhurst who fought for women's right to vote, to influential political leaders like Margaret Thatcher. Throughout the month, numerous events, exhibitions, and educational programs are organised to celebrate these achievements and inspire future generations – is there anything happening near you that you could get involved in? Women's History Month also emphasises the ongoing efforts needed to address gender disparities, and encourages everyone to recognise the vital roles that women play in shaping a more inclusive and equitable society. Despite significant progress, women still face numerous challenges, including gender pay gaps, underrepresentation in leadership positions, and gender-based violence. It’s also essential to recognise that women's experiences are hugely varied, and are shaped by factors such as race, class, sexuality and disability. By reflecting on the past, we can better understand the roots of these issues and hopefully, address and progress on these matters. Plus, by highlighting the stories of women from different backgrounds, we can foster a more inclusive understanding of history and ensure that all women's voices are heard. There are plenty of books, documentaries and podcasts where you can learn more about these important topics too – please get in touch if you’d like some suggestions! Celebrating Women's History Month in the UK: Reflecting on the Past and Embracing the Future Riona Mulherin Director of Marketing & Operations Paradigm
So, to paint the picture, what are some the current gender equality statistics in the UK? Despite progress, gender inequality remains an issue in the UK. Here are some key statistics which demonstrate the varying rates of progress: • Gender Pay Gap: The gender pay gap for full-time employees in the UK was 7.0% in April 2024, down from 7.5% in 2023. The gap is larger for employees over 40 and in higher-paid positions, according to the ONS. • Political representation: As of 2024, women make up 34% of Members of Parliament in the House of Commons, albeit this is a significant increase from just 3% in 1979, according to Statista. • Representation in leadership - Board Representation: As of 2023, women hold nearly 40% of board positions in FTSE 100 companies, a significant increase from 12.5% a decade ago. This progress places the UK second in international rankings for women's representation on boards, according to the UK Government. • C-Suite Representation: In 2023, 25% of C-Suite leaders were white women, while only one in 20 were women of colour, according to the Academy of Women's Leadership. • Economic participation: The UK ranks 15th on the global gender gap index, indicating that there is still much work to be done to achieve gender parity, according to the World Economic Forum. International Women's Day 2025: Accelerating Action for Gender Equality International Women's Day (IWD), celebrated on March 8th, is a global event that highlights and celebrates the social, economic, cultural and political achievements of women, whilst also being a call for action to address the challenges that remain. The theme for this year is "Accelerate Action", emphasising the need for swift and decisive steps to achieve gender equality. Indeed, according to the World Economic Forum, at the current rate of progress, it will take until 2158 (which is roughly five generations from now), to reach full gender parity. The focus is therefore on ways we can generate greater urgency to 19 SPRING PROTECT NEWSLETTER8 Continued on next page...
20 SPRING PROTECT NEWSLETTER remove the systemic barriers and biases that women face across the globe. Earlier this month, we were delighted to host our second annual IWD event, where we were joined by both Lender partners and women from across a number of our member firms, in London. The event took the opportunity to celebrate the achievements of those women in attendance but also to discuss key topics, focus on improving wellbeing and partake in a panel debate to address a number of important areas where we know there is more to be done to support women. Melissa Lackenby, Events Manager from Paradigm was in attendance on the day and here are some of their key takeaways from the event: "It was such a lovely day, having so many women in the one room to discuss some really important topics within the financial industry. One that came to light was how the self-employed advisers are being left being when it comes to mental health and wellbeing, so we need to find ways in which we can help improve their work life balance. There were some insightful conversations around the gender pay gap, and ways that we can help women get into the financial industry, along with developing them further to go into senior roles." How to get involved Although IWD has now passed, there are many ways to get involved in Women's History Month and ideally we should all be seeking to address these issues 365 days a year! As such, here are a few suggestions of ways that you can get involved: 1. Education: Take the time to learn about the contributions of women throughout history and share this knowledge with others. This can include reading books, watching documentaries, or attending events and lectures. 2. Support women's organisations: Consider donating to or volunteering with organisations that support women's rights and gender equality. Personally I have sought out ways to support Staffordshire Women's Aid and Staffordshire Baby Bank (supporting mothers and children predominantly), which are both local to me, and previously volunteered for The Homeless Period community project. 3. Advocate for change: Use your voice to advocate for policies and initiatives that promote gender equality, this can include contacting your elected representatives about important matters, participating in relevant marches/rallies, or using social media to raise awareness. 4. Celebrate Women's Achievements: Take the time to celebrate the achievements of women in your life and community. This can include recognising the accomplishments of female colleagues, friends and family members. Women's History Month and International Women's Day are important opportunities to reflect on the progress made towards gender equality and to recognise the contributions of women throughout history. By celebrating these events, we can draw inspiration from the past, address the challenges that remain, and work towards a more equitable future for all.
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