Why DE&I matters in insurance pricing and what needs to change
The insurance industry is evolving — but when it comes to diversity, equity, and inclusion (DE&I), pricing, data and analytics teams are still playing catch-up.
Despite growing demand for more inclusive workplaces, many pricing functions remain homogenous, hard to enter and lacking in diverse perspectives.
At Pathfinders™ by FlarePeople, we believe this isn’t just a representation issue - it’s a performance one. Diverse pricing teams make smarter decisions, challenge assumptions and ultimately help insurers build fairer, more competitive products.
Here’s why DE&I in insurance pricing matters, what the current challenges are, and how we're helping to change the narrative.
Where are we now?
Insurance pricing teams play a critical role in setting premiums, modelling risk, and influencing commercial outcomes. These are data-driven, technically demanding roles - and STEM graduates are exactly the kind of people pricing teams need.
But while the academic background may be right, the pathways into pricing remain narrow - often favouring only those with very specific degrees, work experience, or traditional career progression.
This over-reliance on linear talent pipelines has contributed to a lack of diversity in many pricing teams - not in intelligence or technical ability, but in background, life experience, and perspective. That limits innovation and leaves gaps in how pricing decisions are made and who they serve.
Some persistent challenges include:
Low gender diversity in technical roles, especially among mid-career and returning professionals
Limited access for high-potential STEM talent without direct industry experience
Barriers for ex-forces and career changers with transferable skills but non-traditional CVs
Bias in hiring processes, favouring narrow definitions of what “qualified” looks like
A lack of visible role models from diverse backgrounds within pricing teams
At Pathfinders™, we believe the solution isn’t lowering standards - it’s widening the gate. We find the right people, train them in the right skills, and support them into roles where they can make a real impact.
Why DE&I is business-critical in pricing.
Diversity, equity, and inclusion are not just HR goals - they are strategic imperatives:
Better decisions: Diverse perspectives help challenge assumptions in modelling, improve fairness in pricing, and expose potential bias.
Greater resilience: Inclusive teams adapt better to change and approach problems with broader thinking.
Regulatory alignment: Fair pricing practices and product governance are under increasing scrutiny from the FCA and other bodies - diverse thinking supports compliance.
Talent sustainability: Broadening access to pricing careers helps close the skills gap and futureproof capability.
How Pathfinders™ by FlarePeople is driving change.
At Pathfinders™, DE&I isn’t a statement — it’s a structure. We’ve built a recruit, train, deploy model that embeds inclusion from day one.
Broader talent pipelines.
Our programme is designed specifically for STEM graduates - but we go further. We actively include individuals who’ve been overlooked by traditional hiring models, including career returners, ex-forces professionals, and those without prior industry experience. What they share is potential, drive and the mindset to succeed in pricing.
Inclusive selection.
We assess aptitude and potential - not just CVs or employment history. Our application process is designed to reduce bias and open the door to high-potential individuals who may not fit the typical profile, but have everything it takes to thrive.
Structured support.
Through our 10-week Pathfinders™ Academy, candidates gain pricing-specific technical skills, commercial context, and real-world confidence - ready to add value from day one.
Long-term outcomes.
We don’t just place people into roles - we help insurers build diverse, future-ready pricing teams that reflect their customers and power sustainable growth.
What can insurers do today?
Audit your current team diversity - beyond gender.
Examine recruitment processes for hidden barriers.
Explore alternative entry pathways, like returner programmes or train-to-hire models.
Measure the impact of diversity on pricing performance and decision-making.
Partner with purpose-built solutions — like Pathfinders™ — that make DE&I practical, not just aspirational.
Closing the gap. Creating the future.
The insurance industry is under pressure to become more inclusive - from customers, regulators and talent alike. For pricing teams, that means rethinking how we build capability and who gets access to these critical roles.
Pathfinders™ by FlarePeople is committed to helping insurers close the skills gap, build diverse pricing teams and deliver smarter, fairer outcomes - for everyone.
Want to know more?
Whether you're looking to build a more inclusive pricing team or explore career opportunities through our Pathfinders™ Academy:
Book a discovery call or register your interest in becoming a Pathfinder™