Los Angeles (September 19, 2023) – The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, today announces the results of the benchmark IICF Philanthropic Giving Index, an independent review of philanthropic activity across the insurance industry, including property and casualty, life and more. This inaugural Philanthropic Index determined the insurance industry contributed more than $1 billion in support of various charitable endeavors in 2022. This data will be collected annually by IICF.
“IICF is proud to announce these collective philanthropic findings and provide the industry with a remarkable figure representative of the generous charitable giving and support by our many insurance businesses,” said Bill Ross, CEO of IICF. “Many of these companies are represented on IICF Boards of Directors across the US and UK, thereby amplifying their impact in the communities where we live and work.”
Alongside the industry’s charitable giving, the Philanthropic Giving Index revealed other community contributions demonstrating the industry’s dedication to giving and volunteerism:
- 137,300 nonprofit partners and causes received support
- 5 million volunteer hours were served
- 93,500 insurance professionals volunteered
With research support from the Insurance Information Institute (III), IICF reviewed data from 120 companies, representative of all sectors of the insurance industry, for this snapshot of industrywide charitable giving and supporting data.
As IICF announces its inaugural philanthropic analysis across the industry, the unifying charitable foundation for the insurance industry is also preparing for its annual Week of Giving, the largest ongoing volunteer initiative in the industry. The event, which began as an insurance volunteer initiative more than nineteen years ago, celebrates the industry’s year-round commitment to charitable giving and volunteerism.
The 2023 IICF Week of Giving will be held Oct. 14 – 21, gathering thousands of insurance professionals across the US and UK to participate in service projects, ranging from book drives, community clean-up projects, mock interviews and much more. Each initiative is designed to support critical community causes including food insecurity and homelessness, education, disaster preparedness and veterans.
To learn more and register, please visit: volunteer.iicf.org
About the Insurance Industry Charitable Foundation (IICF)
The Insurance Industry Charitable Foundation (IICF) is a unique nonprofit that unites the collective strengths of the insurance industry to help communities and enrich lives through grants, volunteer service and leadership. Established in 1994, IICF has served as the philanthropic voice and foundation of the insurance industry for close to thirty years, contributing more than $45 million in community grants along with over 325,000 volunteer hours by more than 115,000 industry professionals. IICF reinvests locally where funds are raised, serving hundreds of charities and nonprofit organizations, for maximum community impact.
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