The global insurance industry experienced a 33% drop in new job postings related to cloud in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 32% decrease versus Q1 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 48% share of the global insurance industry’s cloud-related total new job postings in Q1 2023, down 33% over the prior quarter.

Computer and Mathematical Occupations drive cloud-related hiring activity

Computer and Mathematical Occupations, with a share of 48%, emerged as the top cloud-related job roles within the insurance industry in Q1 2023, with new job postings drop by 33% quarter-on-quarter. Management Occupations came in second with a share of 13% in Q1 2023, with new job postings dropping by 29% over the previous quarter.

The other prominent cloud roles include Architecture and Engineering Occupations with a 3% share in Q1 2023, Business and Financial Operations Occupations with a 3% share of new job postings.

Top five companies in insurance industry accounted for 22% of hiring activity

The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were UnitedHealth Group, Chubb, Intercorp Financial Services, Cigna Group, and Humana. Together they accounted for a combined share of 22% of all cloud-related new jobs in the insurance industry.

UnitedHealth Group posted 433 cloud-related new jobs in Q1 2023, Chubb 272 jobs, Intercorp Financial Services 253 jobs, Cigna Group 228 jobs, and Humana 178 jobs, according to GlobalData’s Job Analytics.

Hiring activity was driven by the US with a 59.73% share of total new job postings, Q1 2023

The largest share of cloud-related new job postings in the insurance industry in Q1 2023 was in the US with 59.73% followed by the UK (6.74%) and Canada (5.50%). The share represented by the US was one percentage point higher than the 58.58% share it accounted for in Q4 2022.

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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.