The global insurance industry experienced a 22% drop in new job postings related to cloud in Q2 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 48% decrease versus Q2 2022. The growing application of Cloud will prove to have a transformative impact on the insurance sector. GlobalData’s Cloud Market report helps keep abreast of the latest trends in Cloud, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, Computer and Mathematical Occupations jobs accounted for a 49% share of the global insurance industry’s cloud-related total new job postings in Q2 2023, down 22% over the prior quarter.
Computer and Mathematical Occupations drive cloud-related hiring activity
Computer and Mathematical Occupations, with a share of 49%, emerged as the top cloud-related job roles within the insurance industry in Q2 2023, with new job postings drop by 22% quarter-on-quarter. Management Occupations came in second with a share of 12% in Q2 2023, with new job postings dropping by 25% over the previous quarter.
The other prominent cloud roles include Architecture and Engineering Occupations with a 3% share in Q2 2023, Business and Financial Operations Occupations with a 3% share of new job postings.
Top five companies in insurance industry accounted for 18% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2023 were Zurich Insurance Group, Humana, UnitedHealth Group, Intercorp Financial Services, and Travelers. Together they accounted for a combined share of 18% of all cloud-related new jobs in the insurance industry.
Zurich Insurance Group posted 263 cloud-related new jobs in Q2 2023, Humana 190 jobs, UnitedHealth Group 188 jobs, Intercorp Financial Services 151 jobs, and Travelers 139 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 52.33% share of total new job postings, Q2 2023
The largest share of cloud-related new job postings in the insurance industry in Q2 2023 was in the US with 52.33% followed by the UK (6.36%) and Canada (6.00%). The share represented by the US was seven percentage points lower than the 59.64% share it accounted for in Q1 2023.
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