March 23, 2023

The Expectation of Inclusivity

Insights International

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Pursuing Better Together with Christy Caragol Transcript

Pursuing Better Together with Christy Caragol Transcript

Arch Insurance International

Hello and welcome to another conversation in the Arch Insurance International Pursuing Better Together Podcast series. Today I’m delighted to be joined by Christy Caragol, who is Senior Vice President for Talent Management and Diversity and Inclusion at Arch Capital Group. And prior to joining the company in 2020, was Global Head of Talent Development at Willis Towers Watson. First of all, thank you very much for taking the time to talk to us today.

Christy Caragol

Thank you equally Nigel, it’s a pleasure to be here.

Arch Insurance International

Fantastic. I wanted to start by just getting a better understanding of what your role at Arch entails. And also, how your career progression led you to this particular role?

Christy Caragol

So, the first part, in terms of my remit is to look after talent management. So, succession planning, performance management, that sort of thing, hypo development, as well as diversity and inclusion. And a new add is our talent acquisition shared services model in North America. So, all about people, how we attract them, bring them in, promote, develop, etc, and do so in an equitable, equitable fashion.

I consider myself to be sort of an accidental HR person. So back in elementary school, I wanted to follow in my father’s footsteps and be a doctor. And unfortunately, a university level chemistry class threw me off that plan. So, I took multiple social sciences courses, and really was intrigued by the human psyche, behaviour, the influences on both. And so I wound up majoring in psychology, and had no idea what I was going to do with that. There was a fork in the road with psychology at the time, versus social work. And at the time, psychology was still very wedded to the medical model of provision of service for folks, and the conceptualisation of mental health. Whereas social work, really, they called it the person in the environment. So, looking at all the multitude of factors that influence mental health, like experience of poverty, the isms, educational background, and that sort of thing.

And equally, it had its roots, strong roots in social justice. And so both of those pieces the acknowledgement, recognition of what somebody’s life experience has on their ability to function healthfully, as well as the justice component really intrigued me. And so, all of this early, early days kind of background really, I think led to once I decided to move into corporate. So, I literally had no map for how I could parlay my skills and experiences into something in a corporate environment. And over time, I wound up working for the head of comp and benefits at the then the Towers parent company, which had Tillinghast as a component, and just kept raising my hand and saying, we needed help with this or that, and oh, you know, I can do that and sort of translated that into a 19 year career, ultimately veering toward people leadership development, those sorts of things, where behaviour as much as you know, technical skills becomes increasingly important as you as you move up the organisation.

Arch Insurance International

It’s quite a unique path that you’ve led here, but you can understand why that sort of behavioural perspective that you have would be so important in your role.

Christy Caragol

Yes, I mean, it really is critical. And I know you’ve probably seen the research on leadership development. To a point, obviously people need to be technically brilliant and proficient but the differentiator across leadership and leaders themselves have to do with some of what have been considered soft skills, but it turns out that, if you’re not a natural, they’re hard to learn, but they’re learnable. So it’s just really all of that, the acknowledgement of how hard it is to change, the need to influence, to have your message heard by different people, because everybody hears things in different ways.

Arch Insurance International

Obviously, the focus of our conversation today is on the importance of developing and also maintaining a diverse, equitable and inclusive workplace. And of course, having the right culture in place is central to that. Can I ask, from your perspective and from your experience, what are some of the biggest barriers to having a really inclusive workplace culture?

Christy Caragol

It’s going to be a simple one for me. You could kind of wax poetic about all different directions that you’ve probably heard before. People like to feel comfortable, and people act out of habit. And our habits are patterned across a lifetime and exposure to norms that we all experienced together. And so, doing things the way we’ve always done them, in a predictable fashion, is comfortable. And, oddly enough, that comfort level applies to people on both sides of a privileged and non-privileged equation. So I think the biggest barrier is that comfort level of everyone wanting things to be predictable, and as they know it. And so consciously interrupting that pattern thinking, that pattern behaviour takes a lot of effort. And it requires all of us. So I think really, in short, the barrier is people want to be to be comfortable and predictable and that will be and continue to be I think our biggest challenge.

Arch Insurance International

Of course. I wanted to sort of direct the conversation specifically at the insurance sector itself. And just get your views on whether you think that companies are challenging themselves enough, and particularly around the area of a workplace equity, and are we seeing enough sort of forward momentum?

Christy Caragol

Yeah, so I think this goes back to the response I just touched on which is comfort level. The insurance sector is a perhaps uniquely relationship focused business. I think that given that, in the professional world, exposure to opportunity, to conversations, to relationships, to the widening net of people’s inner circles, because so much of that fuels how someone gets ahead and advances in career and gains even more opportunity, the tendency for us to keep to people who look like us, has impacted I think financial services broadly but certainly the insurance sector. So, if we’re learning from watching people perform whatever that is, whatever the negotiation or meeting or technical presentation, you learn from watching others, you learn from speaking to others about that. And if there are any barriers or to having access to those relationships, it impacts our ability to move ahead. So that is again, a fundamental human behaviour-based impediment to us achieving the equity I think that we’d like to see. Momentum, I think it depends. It depends on context. So, in a company that’s performing well, as Arch is, we have a lot of opportunity. We view this as an opportunity to get more than our fair share of representation into the organisation. We’re doing well, and we think that that will fuel our future progress and fuel our future success. I think in tough times, things that are viewed as discretionary, which by the way, I don’t believe that equity and diversity are, those tend to be the things that are trimmed. So, I think it’s very context based. I like to think that we’re continuing forward momentum.

Arch Insurance International

Just linking to our subject of pursuing better together. What for you, does better look like in the context of workplace equity is

Christy Caragol

So there’s some behaviours that I think you’d expect to see. So what does better look like? Having a look at people’s LinkedIn profiles and having them be reflective of the larger society in which we live. Making sure that people are building relationships intentionally and consciously outside of the norm, the inner circle, the usual suspects. Practicing a firmly held belief that everyone has something meaningful to contribute, and figuring out the best way to extract that contribution from them. So, again, changing habits of the workplace in such a way that you’re demonstrating that everyone has value contribution, and you may need to adjust your style. The equity piece is adjusting your style and approach so that others can shine. If we’re pooling talent from the broadest pool, and we are operating on the assumption that the distribution of intellect and intellectual capacity and capability forms around a normal distribution, we’re closing ourselves off to access to the best talent by not doing otherwise.

Arch Insurance International

I just wanted to ask you to talk about the value of creating a supportive workplace environment that enables women to thrive. What does that environment look like? What are some of the key components of that environment?

Christy Caragol

So I think the first thing is not assuming that all women need the same thing. I think there’s a natural tendency to think that one of the barriers to having women in the workplace is the juggle with any kind of caring for family and home. And the truth is, societally in most cultures, women still perform the lion’s share or are responsible for the lion’s share of home and child care. So while we work to change that at home and in individual homes to make that more equitable, I think there still needs to be an acknowledgement of what the best way to do the work is for an individual person, and that obviously applies to women, but to but to all people, and how can we provide support that helps women shine and helps them grow? I also think it’s some of the things that we hear a lot, which is how do you give a platform, give voice, give visibility to women, in settings where they might be overshadowed. So whether that be in amplifying something a woman said in a meeting or something along those lines, those are the things that we all have to practice as well.

Arch Insurance International

I want to just talk briefly about some of the ways in which Arch is helping to move the dial forward on this front. Could you perhaps Christy, talk to us about how the company is embedding diversity, equity and inclusion more deeply into its culture?

Christy Caragol

Yes, and in several ways. Each business, each geography does a different version of looking at the ways that we’re bringing people into the company, making sure we’re providing opportunity in a way that’s fair and balanced. And we have implemented some employee networks, which I think again, speaks to belonging, visibility, giving voice to people and focusing around topics that interest various groups based on under-representation. So we have Women and Allies, we have Black Professionals and Allies, LGBTQ+, etc. Of these signal and not only provide real opportunities for people, to gather to help promote and forward our D&I strategy but equally the cultural aspect of acceptance and belonging and wanting to hear from and see people who’s showing up differently. In addition, we have sort of point in time process things that we’ve embedded to look at, okay, it’s time for promotions, what do those look like? If they’re imbalanced in any way, why is that so? And then furthermore, how do we I call them point in time, because if someone’s not ready for promotion, they’re not ready for promotion. However, it was what you did the last six months, that could have made a difference. So how do we make sure that we’re providing whatever opportunities for folks that they need so that the next time around, they will be ready. So there are a myriad ways throughout the talent lifecycle, we’re looking at the way that we recruit people, so building out networks, to make sure that we’re considering different candidates to what we might normally recruit. Additionally, everything from job adverts to the interview questions that we asked, the way in which we ask them, etc, it all matters. So we’re trying to pick apart every opportunity we can to make sure that we’re being mindful of inclusion and equity.

Arch Insurance International

I wanted to focus on some of the measures that Arch has introduced to support the development of female talent in particular across the organisation, what are some of those steps?

Christy Caragol

One of the themes for at least last year, and following into this year, has been providing additional development opportunities and exposure for women. And so we have panels coming on to speak about different aspects of the profession, insurance, whether it be actuarial or claims, come on, and talk about career stories and talk about how you get more experience and that sort of thing. So we’re trying to hit on multiple angles. Additionally, again, looking at our succession benches, and saying, okay, where can we pull people up? Who are we overlooking? How do we ensure again that we’re looking broadly and also providing the right opportunity and access during the year so that people can continue career growth?

Arch Insurance International

Yeah, I suppose also linking into, given our theme of pursuing better together, that together component, how important is collective action to bringing about impactful and, more importantly, perhaps long-lasting change?

Christy Caragol

I think because we’re talking about culture, culture is something that we co create, and it’s signalled by what we do, but also what we don’t do. And the consequences for any what we would call that actors, who aren’t behaving collaboratively, for example, who aren’t being inclusive. And it requires all of us to adapt our behaviour. So, one of the things that we’ve started to do is build the expectation of inclusivity into what’s required for management roles and leadership roles. So that again, everyone becomes sort of indoctrinated into that way of thinking and behaving. Because if you have one manager who’s not adhering to that or doesn’t buy into this or think that it’s valuable, well, then you’re sort of nullifying talent that could be and so it really has to be something that everyone participates in, and then is a collective action to make a real difference.

Arch Insurance International

How important is it also to be sharing what is considered to be best practice with peers in the marketplace?

Christy Caragol

So they say the high tide floats all boats. I think that. Equally today we’ve been competitive with a narrow aperture into the market. It doesn’t mean if we’re all doing the same thing, we will all benefit from even better ideas and innovation and creativity and engagement from people. So I think it just bumps up all of us in our collective game. But it also doesn’t mean that we’re still not competitive with one another and still can compete, because each of our value propositions to all stakeholders is a little bit different. It’s a different mix. So, yes, and there’ll be more of the pie to share.

Arch Insurance International

I have one further question for you, Christy. And it’s a question that we ask all of our participants in this conversation, but I just want to get a sense from you of what this idea of Pursuing Better Together means to you?

Christy Caragol

Yes. Well, I’m genuinely honoured to play the role that I do at Arch, because it gives me access really to each individual in the company in a way that I might not otherwise because I sort of have a pass to be able to talk to and hear from people that perhaps other roles it might be perceived as more strange or not necessary for the role. And I think taking what I’ve learned my whole career, what drew me to Arch was the ability to make an impact in a culture that has maintained its entrepreneurial roots, that is focused on doing better each and every day. So those things I was drawn to from a value set, and that’s what’s expected of me, which makes it easy. So, hopefully translating my experience, my learning into something that will help Arch continue to get better and to pursue better together. And our purpose, you know, on a grander scale, day by day, I think is, you know, whether on the topic of equity or leadership development or, you know, fostering exposure for folks, where are the opportunities that we’re missing? And how can we do it, you know, better together and, you know, next time and tomorrow?

Arch Insurance International

Well, Christy, I think that our conversation today has been incredibly insightful, and also thought provoking as well. And I hope that it will have helped spark ideas for some potential new approaches to diversity, equity inclusion in the minds of our listeners. It’s just left for me to say a huge thank you for speaking with us today.

Pursuing Better Together with Christy Caragol

Christy Caragol’s approach to inclusivity recognises that while everyone in an organisation has something meaningful to contribute, it takes a collective effort to make the most of diversity of talent

Having studied social sciences and majoring in psychology at university, Christy Caragol is, in her own words, “an accidental HR person”.

“I was really intrigued by the human psyche and human behaviour, but at the time, psychology was very wedded to the medical model of service provision and the conceptualisation of mental health, whereas social work was more about what they call ‘the person in the environment’,” she recalls.

That concept – of examining the factors that make up a person’s life experience, and which can influence their mental health – has strong roots in the notion of social justice, and it was this that captured Christy’s interest as a student, and has informed her career in talent management and development.

As Senior Vice President for Talent Management and Diversity & Inclusion at Arch Capital Group Ltd., Christy believes that one of the biggest barriers to creating a truly inclusive workplace culture is the tendency for people to act out of habit, based on a lifetime of exposure to shared norms.

“Consciously interrupting that pattern of thinking and behaviour takes a lot of effort – and it requires all of us to make that effort,” she says.

“Consciously interrupting that pattern of thinking and behaviour takes a lot of effort – and it requires all of us to make that effort.”

For Christy, the notion of Pursuing Better Together at Arch is deeply rooted in that journey towards a more equitable workplace, where representation for a more diverse range of talent is a key part of the future success of the company.

“What does ‘better’ look like? Practicing a firmly held belief that everyone has something meaningful to contribute, and figuring out the best way to extract that contribution from them,” she says.

As part of Arch’s commitment to embedding diversity, equity and inclusion more deeply into the company culture, it has implemented employee networks which give greater visibility and a stronger voice to under-represented groups.

“All of these provide real opportunities for people to gather together and promote our DE&I strategy, and also signal that cultural aspect of acceptance and belonging – and wanting to hear from and see people who are different,” says Christy.

Arch has also embedded processes to drive inclusion and equity throughout the talent lifecycle – from building networks to attract a broader range of candidates, to changing job adverts and interview questions, to improving promotion prospects across the employee spectrum.

“What does ‘better’ look like? Practicing a firmly held belief that everyone has something meaningful to contribute, and figuring out the best way to extract that contribution from them.”

A continuing theme this year is increasing the exposure of and development opportunities for women at Arch. Key events will provide female employees with opportunities to learn from panel speakers about different aspects of the insurance profession, to hear about career stories of female colleagues, and to discover how to gain the necessary experience to progress their own careers.

“We’re also looking at our succession benches. Who are we overlooking? And how can we ensure there are the right opportunities and access for people to continue their career growth,” she says.

In Christy’s view, a more equitable culture is something that employees at all levels co-create, and which is signalled by what an organisation does, but also what it doesn’t do.

“We’ve started to build the expectation of inclusivity into what’s required for management and leadership roles. If you have one manager who doesn’t buy into that or think that it’s valuable, then you’re potentially nullifying other talent. So it really has to be a collective action to make a real difference,” Christy explains.

What drew Christy to Arch initially, and which still informs her personal approach to Pursuing Better Together, is the ability to make an impact in a culture that has maintained its entrepreneurial roots, and is focused on doing better each and every day.

“I’m genuinely honoured to play the role that I do at Arch, because it gives me access to each individual in the company, to talk to and hear from people in other roles, and to hopefully translate my experience and learning into something that will help Arch continue to get better,” she concludes.

About Arch Insurance International Podcasts

Welcome to Arch Insurance Insights podcasts, available on Apple Podcasts and Spotify.

During our Pursuing Better Together series, we’ll hear from luminaries both inside and outside of the insurance industry about how they have “pursued better” within their chosen professions.