The global insurance industry experienced a 15% drop in new job postings related to artificial intelligence in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 61% decrease versus Q4 2022. GlobalData’s Insurance: Hiring Trends & Signals Q4 2023 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, Computer and Mathematical Occupations jobs accounted for a 41% share of the global insurance industry’s artificial intelligence-related total new job postings in Q4 2023, down 17% over the prior quarter.
Computer and Mathematical Occupations drive artificial intelligence-related hiring activity
Computer and Mathematical Occupations, with a share of 41%, emerged as the top artificial intelligence-related job roles within the insurance industry in Q4 2023, with new job postings drop by 17% quarter-on-quarter. Management Occupations came in second with a share of 16% in Q4 2023, with new job postings rising by 2% over the previous quarter.
The other prominent artificial intelligence roles include Business and Financial Operations Occupations with a 7% share in Q4 2023, Architecture and Engineering Occupations with a 2% share of new job postings.
Top five companies in insurance industry accounted for 23% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were AXA, Allianz, Intact Financial, Swiss Re, and Cambia Health Solutions. Together they accounted for a combined share of 23% of all artificial intelligence-related new jobs in the insurance industry.
AXA posted 114 artificial intelligence-related new jobs in Q4 2023, Allianz 104 jobs, Intact Financial 78 jobs, Swiss Re 76 jobs, and Cambia Health Solutions 66 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 43.70% share of total new job postings, Q4 2023
The largest share of artificial intelligence-related new job postings in the insurance industry in Q4 2023 was in the US with 43.70% followed by India (8.26%) and the UK (7.84%). The share represented by the US was three percentage points lower than the 46.29% share it accounted for in Q3 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q4 2023, buy the report here.
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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.
