Shelter Insurance® Reviews and Expands Supplier Diversity Efforts
As part of ongoing efforts to enhance diversity within the organization, Shelter Insurance® has reviewed and expanded its supplier diversity program. The review showed many key existing partnerships are with certified diversity vendors, including a relationship with two investment vendors which affected more than $1 billion of Shelter's trades.
Members of Shelter's Purchasing Department reviewed the overall procurement practices for the organization and found Shelter supports minority-owned and woman-owned business enterprises as well as other qualified business concerns. Some examples include:
- Our investment team utilizes minority-owned brokerages for a substantial portion of our annual transactions. In 2016, more than $1 billion in short term investments was transacted with these firms. Insurance companies traditionally rely on investments for ongoing financial strength, so these vendors are critical to Shelter's overall operation.
- One of the primary furniture vendors supporting our corporate headquarters is a woman-owned business.
- Many of our branch offices utilize local, minority-owned businesses to provide essential services.
The Purchasing Department review also mentioned the fact that many of our strategic business partners support supplier diversity in their purchases. For example:
- Shelter's envelope vendor purchases nearly $100 million annually from minority and woman-owned businesses.
- One of our primary technology providers has an extensive diversity program for direct and indirect spending with minority-owned, woman-owned, veteran-owned and disabled-owned vendors, just to name a few. These efforts represent hundreds of millions of dollars of annual purchases.
A new section of the Shelter website features information about the diversity supplier program, as well as a form vendors may submit for consideration. This information may be found at https://www.shelterinsurance.com/aboutshelter/diversityatshelter/supplierdiversity/.Older