The global insurance industry experienced a 46% rise in new job postings related to environmental sustainability in Q1 2024 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 36% increase versus Q1 2023. GlobalData’s Insurance: Hiring Trends & Signals Q1 2024 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the insurance industry, facilitating anticipation of future workforce needs. Buy the report here.
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Notably, Business and Financial Operations Occupations jobs accounted for a 20% share of the global insurance industry’s environmental sustainability-related total new job postings in Q1 2024, up 28% over the prior quarter.
Business and Financial Operations Occupations drive environmental sustainability-related hiring activity
Business and Financial Operations Occupations, with a share of 20%, emerged as the top environmental sustainability-related job roles within the insurance industry in Q1 2024, with new job postings rising by 28% quarter-on-quarter. Management Occupations came in second with a share of 13% in Q1 2024, with new job postings rising by 9% over the previous quarter.
The other prominent environmental sustainability roles include Computer and Mathematical Occupations with an 11% share in Q1 2024, Office and Administrative Support Occupations with a 6% share of new job postings.
Top five companies in insurance industry accounted for 59% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2024 were Manulife Financial, AXA, Allianz, British United Provident Association, and Phoenix Group. Together they accounted for a combined share of 59% of all environmental sustainability-related new jobs in the insurance industry.
Manulife Financial posted 1,194 environmental sustainability-related new jobs in Q1 2024, AXA 653 jobs, Allianz 616 jobs, British United Provident Association 367 jobs, and Phoenix Group 229 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 29.44% share of total new job postings, Q1 2024
The largest share of environmental sustainability-related new job postings in the insurance industry in Q1 2024 was in the US with 29.44% followed by the UK (20.60%) and Canada (12.18%). The share represented by the US was 0 percentage points higher than the 29.16% share it accounted for in Q4 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q1 2024, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
