The global insurance industry experienced a 19% drop in new job postings related to environmental sustainability in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 24% decrease versus Q4 2022. GlobalData’s Insurance: Hiring Trends & Signals Q4 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.
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Notably, Business and Financial Operations Occupations jobs accounted for a 23% share of the global insurance industry’s environmental sustainability-related total new job postings in Q4 2023, down 20% over the prior quarter.
Business and Financial Operations Occupations drive environmental sustainability-related hiring activity
Business and Financial Operations Occupations, with a share of 23%, emerged as the top environmental sustainability-related job roles within the insurance industry in Q4 2023, with new job postings drop by 20% quarter-on-quarter. Management Occupations came in second with a share of 16% in Q4 2023, with new job postings dropping by 7% over the previous quarter.
The other prominent environmental sustainability roles include Computer and Mathematical Occupations with a 13% share in Q4 2023, Office and Administrative Support Occupations with a 7% share of new job postings.
Top five companies in insurance industry accounted for 56% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were Manulife Financial, AXA, Phoenix Group, British United Provident Association, and Allianz. Together they accounted for a combined share of 56% of all environmental sustainability-related new jobs in the insurance industry.
Manulife Financial posted 914 environmental sustainability-related new jobs in Q4 2023, AXA 539 jobs, Phoenix Group 190 jobs, British United Provident Association 186 jobs, and Allianz 169 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 28.94% share of total new job postings, Q4 2023
The largest share of environmental sustainability-related new job postings in the insurance industry in Q4 2023 was in the US with 28.94% followed by the UK (22.63%) and Canada (10.78%). The share represented by the US was one percentage point lower than the 29.94% share it accounted for in Q3 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q4 2023, 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.
