The global insurance industry experienced a 51% rise in new job postings related to cybersecurity in Q1 2024 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to an 11% 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, Computer and Mathematical Occupations jobs accounted for a 24% share of the global insurance industry’s cybersecurity-related total new job postings in Q1 2024, up 7% over the prior quarter.
Computer and Mathematical Occupations drive cybersecurity-related hiring activity
Computer and Mathematical Occupations, with a share of 24%, emerged as the top cybersecurity-related job roles within the insurance industry in Q1 2024, with new job postings rising by 7% quarter-on-quarter. Management Occupations came in second with a share of 12% in Q1 2024, with new job postings rising by 20% over the previous quarter.
The other prominent cybersecurity roles include Business and Financial Operations Occupations with a 10% share in Q1 2024, Office and Administrative Support Occupations with a 3% share of new job postings.
Top five companies in insurance industry accounted for 34% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2024 were Allianz, AXA, Everest Group, Chubb, and Government Employees Insurance. Together they accounted for a combined share of 34% of all cybersecurity-related new jobs in the insurance industry.
Allianz posted 561 cybersecurity-related new jobs in Q1 2024, AXA 174 jobs, Everest Group 139 jobs, Chubb 134 jobs, and Government Employees Insurance 126 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 37.67% share of total new job postings, Q1 2024
The largest share of cybersecurity-related new job postings in the insurance industry in Q1 2024 was in the US with 37.67% followed by the UK (10.82%) and India (7.19%). The share represented by the US was two percentage points lower than the 40.06% 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.
