Mental Health Awareness Month: AXIS/Harris Poll Survey Finds Nearly 9 in 10 (88%) Insurance Employees Acknowledge Widespread Stress and Anxiety in the Industry
MWN-AI** Summary
In recognition of Mental Health Awareness Month, AXIS Capital Holdings Limited collaborated with The Harris Poll to investigate mental health trends within the insurance industry. Key findings from the survey, which involved 405 insurance professionals from the U.S. and the U.K., reveal significant stress and anxiety affecting nearly 88% of employees in the sector, emphasizing a growing mental health crisis.
The research highlights that around 77% of employees sought mental health support within the past year, with younger employees (ages 18-44) demonstrating a higher propensity for seeking help compared to their older counterparts (45+). Stress levels have risen in parallel with increased workloads—82% of employees in the U.K. reported heightened anxiety levels, while 60% in the U.S. experienced similar trends.
Despite the existence of mental health resources, 80% of respondents believe the insurance industry lags behind others in prioritizing mental health initiatives, with 76% feeling these issues are insufficiently addressed. Although the majority expressed satisfaction with their work models and work-life balance, they were generally less satisfied with their employers' mental health support services. Key resources considered beneficial include flexible work arrangements, dedicated mental health days, and financial wellness programs. Notably, 46% of U.K. employees reported inadequate support from employer-provided benefits for managing workplace stress compared to 22% in the U.S.
In response to these challenges, AXIS Capital is enhancing its mental health programming with new initiatives, including a designated Wellbeing/Mental Health Day for employees and expanded educational resources. AXIS leadership emphasizes the importance of fostering a supportive environment that addresses the mental health needs of its workforce. As mental health awareness becomes increasingly crucial, AXIS aims to lead by example in promoting a culture of wellbeing within the insurance sector.
MWN-AI** Analysis
As we mark Mental Health Awareness Month, the recent AXIS/Harris Poll survey indicating that 88% of insurance employees acknowledge widespread stress and anxiety highlights critical implications for the insurance market. With professionals facing escalating pressures due to economic volatility, geopolitical tensions, and technology disruptions, mental health has become an urgent focus area.
The data indicates that younger employees are particularly stressed and more inclined to seek mental health support, suggesting a generational shift in attitudes toward workplace wellness. This trend points to an opportunity for insurance companies to enhance their employee value propositions by integrating comprehensive mental health resources into their workplace culture.
For investors, this means monitoring companies that are proactively addressing mental health concerns. AXIS Capital's initiatives, such as providing paid Wellbeing/Mental Health Days and expanding educational resources, showcase a progressive approach that could serve as a model for others in the industry. Businesses that prioritize mental health not only cultivate employee satisfaction but may also enhance overall productivity and retention.
Furthermore, with 80% of insurance employees feeling that their industry lags in mental health initiatives, companies that implement these changes could differentiate themselves competitively. Improvement in mental health support could lead to lower turnover rates and potentially reduce the organizational costs associated with high stress among employees, thus positively impacting bottom lines.
In summary, as the mental health crisis in the insurance industry becomes increasingly recognized, companies investing in tailored mental health initiatives represent viable long-term opportunities. Investors should favor firms that not only acknowledge these challenges but also take tangible steps towards creating supportive, resilient work environments, ensuring they remain ahead in the evolving market landscape.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Timed to the start of Mental Health Awareness Month, AXIS Capital Holdings Limited (“AXIS Capital” or the “Company”) (NYSE: AXS) partnered with The Harris Poll to survey the state of mental health within the insurance profession. The research findings revealed a number of trends pointing to widespread and rising stress and anxiety; a desire for better mental health support; and a belief that insurance trails other industries in prioritizing mental health initiatives.
The survey, conducted mid-April 2025, was fielded during a time when insurance professionals are facing tremendous change in the risk environment brought on by factors such as economic volatility, rising geopolitical tensions, extreme weather, cyber threats, and technology disruption including artificial intelligence (AI). The research findings are based on online interviews with 405 full-time insurance professionals spanning the United States (US) (305 participants) and United Kingdom (UK) (100 participants).
“As we are all experiencing across both our professional and personal lives, we’re living in a period of transcendent change and transformation. The findings from the AXIS/Harris Poll research show that this is taking a toll on insurance and risk management professionals,” says AXIS President & CEO Vince Tizzio. “Prioritizing mental health is a crucial mandate for business leaders, and it begins with acknowledging and addressing the mental health challenges our teams are experiencing so that we can support and enable a resilient and productive workforce.”
The findings from the AXIS/Harris Poll research include:
Mental Health Among Insurance Employees: A Growing Crisis
- Nearly 9 in 10 (88%) insurance employees acknowledge widespread stress and anxiety in the industry
- About 8 in 10 (77%) insurance employees mention seeking mental health support for themselves in the past year
- Younger employees (82% among 18-34; 81% among 35-44) did so significantly more than older (45+) employees (64%)
- Stress levels are rising in sync with workload, particularly in the UK, where 82% of employees report increased stress and anxiety levels over the past 12 months, compared to 60% in the US. Correspondingly, 84% of UK employees and 69% of US employees have experienced an increase in workload over the past year
Employee Mental Health Resources Exist but Often Fall Short
- 8 in 10 (80%) feel insurance trails other industries in prioritizing mental health initiatives and 76% feel these issues are not talked about enough (87% in the UK, 72% in the US)
- While employees are generally satisfied with their work model (88%), work-life balance (75%), and ability to focus at work (82%), they are less satisfied with their employer’s mental health resources (64%) leaving them often underutilized or undervalued
- The resources found to be most helpful are flexible work arrangements (53%), mental health days (45%), and financial wellness programs (43%)
- Nearly half (46%) of UK insurance employees say they are not able to manage their workplace stress/anxiety with their employer-provided benefits (compared to only 22% of US employees)
"The data clearly shows that our colleagues are seeking empathy, open communication, and benefits regarding mental health needs in the workplace," says Lisa Pariot, AXIS Chief People Officer. "At AXIS, we recognize this and strive to provide the right resources and support for our teammates – not just through our benefits but also in our culture.”
In 2024, AXIS announced the scale-up of a broader, year-round internal and external program to promote mental health and wellbeing within the insurance profession through advocacy, education, and employee volunteering. This May, timed to Mental Health Awareness Month, AXIS unveiled enhancements to its internal programming and resources, including a Wellbeing/Mental Health Day as paid time off for employees, and an expansion of educational resources, among other initiatives.
About the Study
This study was conducted by The Harris Poll on behalf of AXIS Capital, online, April 15-23, 2025, among 305 US and 100 UK full-time insurance employees, ages 18 and over.
About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders' equity of $5.9 billion at March 31, 2025, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a financial strength rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20250508660090/en/
Investor Contact
Cliff Gallant
+1 (415) 262-6843
investorrelations@axiscapital.com
Media Contact
Nichola Liboro
+1 (917) 705-4579
nichola.liboro@axiscapital.com
FAQ**
How is AXIS Capital Holdings Limited (AXS) planning to improve mental health support for its employees in response to the findings of the recent survey on mental health in the insurance profession?
What specific initiatives has AXIS Capital Holdings Limited (AXS) introduced to address the mental health challenges identified in the Harris Poll survey conducted in April 2025?
Given that 80% of insurance employees feel AXIS Capital Holdings Limited (AXS) lags behind other industries in mental health prioritization, what strategies will the company implement to enhance its mental health resources?
How does AXIS Capital Holdings Limited (AXS) intend to measure the effectiveness of its new mental health initiatives and support programs launched in May 2025?
**MWN-AI FAQ is based on asking OpenAI questions about Axis Capital Holdings Limited (NYSE: AXS).
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