The global insurance industry experienced a 13% drop in new job postings related to cybersecurity in Q2 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 34% decrease versus Q2 2022. GlobalData’s Cybersecurity in Insurance – Thematic Research market report provides a detailed understanding on how Cybersecurity impacts the value chain in the Insurance sector, and the leading Cybersecurity adopters and vendors in the market. Buy the report here.
Notably, Computer and Mathematical Occupations jobs accounted for a 30% share of the global insurance industry’s cybersecurity-related total new job postings in Q2 2023, down 9% over the prior quarter.
Computer and Mathematical Occupations drive cybersecurity-related hiring activity
Computer and Mathematical Occupations, with a share of 30%, emerged as the top cybersecurity-related job roles within the insurance industry in Q2 2023, with new job postings drop by 9% quarter-on-quarter. Management Occupations came in second with a share of 13% in Q2 2023, with new job postings dropping by 13% over the previous quarter.
The other prominent cybersecurity roles include Business and Financial Operations Occupations with an 8% share in Q2 2023, Office and Administrative Support 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 Q2 2023 were Allianz Versicherungs-AG, Allianz, Zurich Insurance Group, Willis Towers Watson, and Elevance Health. Together they accounted for a combined share of 22% of all cybersecurity-related new jobs in the insurance industry.
Allianz Versicherungs-AG posted 149 cybersecurity-related new jobs in Q2 2023, Allianz 130 jobs, Zurich Insurance Group 108 jobs, Willis Towers Watson 102 jobs, and Elevance Health 88 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 46.59% share of total new job postings, Q2 2023
The largest share of cybersecurity-related new job postings in the insurance industry in Q2 2023 was in the US with 46.59% followed by the UK (10.51%) and Canada (5.78%). The share represented by the US was five percentage points lower than the 51.60% share it accounted for in Q1 2023.
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