The global insurance industry experienced a 52% drop in new job postings related to electric vehicles in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 66% decrease versus Q3 2022. GlobalData’s Insurance: Hiring Trends & Signals Q3 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.
Notably, Management Occupations jobs accounted for a 23% share of the global insurance industry’s electric vehicles-related total new job postings in Q3 2023, down 42% over the prior quarter.
Management Occupations drive electric vehicles-related hiring activity
Management Occupations, with a share of 23%, emerged as the top electric vehicles-related job roles within the insurance industry in Q3 2023, with new job postings drop by 42% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 14% in Q3 2023, with new job postings dropping by 49% over the previous quarter.
The other prominent electric vehicles roles include Computer and Mathematical Occupations with a 14% share in Q3 2023, Office and Administrative Support Occupations with a 6% share of new job postings.
Top five companies in insurance industry accounted for 92% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Legal & General Group, Aviva, BGL Group, Direct Line Insurance Group, and Unum Group. Together they accounted for a combined share of 92% of all electric vehicles-related new jobs in the insurance industry.
Legal & General Group posted 143 electric vehicles-related new jobs in Q3 2023, Aviva 40 jobs, BGL Group 24 jobs, Direct Line Insurance Group 21 jobs, and Unum Group 17 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the UK with a 93.23% share of total new job postings, Q3 2023
The largest share of electric vehicles-related new job postings in the insurance industry in Q3 2023 was in the UK with 93.23% followed by the US (4.51%) and the Netherlands (1.13%). The share represented by the UK was 14 percentage points higher than the 78.95% share it accounted for in Q2 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.