Insurers Spent Over $2.5 Billion With Diverse Suppliers in 2025, Up 20% Since 2019, CDI Survey Finds
Insurance companies operating in California spent more than $2.5 billion with over 4,300 diverse suppliers in 2025, up 20.7% from $2.1 billion in 2019, according to the 2025 Insurance Diversity Survey released by the California Department of Insurance (CDI) at its Insurance Diversity Summit in Los Angeles on October 7. Diverse suppliers are businesses owned by women, ethnic minorities, veterans, LGBTQ people and people with disabilities.
A total of 393 insurers, representing $219 billion in premiums — about 96% of the California market — reported data. Companies that actively run outreach and mentorship for diverse suppliers directed 11 percentage points more of their procurement spending to those businesses.
On governance, more than three-quarters of insurers had at least one woman on their board, similar to 2019, while ethnic diversity on boards edged down to 17.4% from 19.5%. Insurance Commissioner Ricardo Lara said the results show the industry's investment in diverse suppliers keeps growing. California's Insurance Diversity Survey has tracked supplier and board diversity since 2011.
Published by GSM · USA (original Chinese edition)
Photo: 加州保险局长里卡多·拉拉（加州保险局官方图，公共领域）
