An inaugural Australian insurance industry diversity and inclusion survey has highlighted areas for improvement in the local industry.

Lloyd’s, which organised the survey, says the results will provide a benchmark to measure the industry’s future performance in the areas of diversity and inclusion.

Results released last week as the annual Dive In Festival got into full swing across Australia and the world show nearly half the survey respondents are female, but less than a third of them were in a role from team leader upward.

In other findings, 10% of employees identified as LGBTI (lesbian, gay, bisexual, transgender or intersex), with 83% of respondents completely open about their sexuality at work. However, 6% admitted they keep their sexuality “actively hidden”.

Three-quarters of the participants were born in Australia or the UK and speak English at home. On religion, 48% identify as Christian and 41% stated they had no alliance.

Lloyd’s General Representative in Australia Chris Mackinnon says insurers need to be more focussed on employing people from a wide talent pool.

“Failure to do so not only puts them at risk for winning the best and brightest employees, it also jeopardises their potential future customer base,” he said.

About 2500 people from 21 organisations took part in the survey, which was conducted by Macquarie Bank.

The survey also finds that 49% of respondents have caring responsibilities, and one in 25 have experienced a psychological condition such as depression or bipolar disorder.

One in four don’t know whether their company executives “show commitment” to diversity and inclusion, but 80% of those with caring responsibilities said they are happy with their level of flexibility at work.

The survey is set to be repeated next year, building on the inaugural findings.

“Holding up the mirror as an industry will help us draw a line in the sand from which we can track and measure future progress,” Mr Mackinnon said.

See ANALYSIS.