The global insurance industry experienced a 6% rise in new job postings in Q2 2024 compared with the previous quarter, with the highest share accounted for by Allianz with 7,407 job postings according to GlobalData’s analysis of insurance company job postings. GlobalData’s Insurance: Hiring Trends & Signals Q2 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.

Notably, Business and Financial Operations Occupations jobs accounted for a 15% share of the global insurance industry’s new job postings in Q2 2024, down 3% over the prior quarter.

Business and Financial Operations Occupations drive insurance industry hiring activity

Business and Financial Operations Occupations, with a share of 15%, was the occupation with the greatest hiring activity in the global insurance industry in Q2 2024, ahead of Management Occupations with a 14% share of job postings.

The other prominent roles include Computer and Mathematical Occupations with a 10% share in Q2 2024, Sales and Related Occupations with a 17% share and Office and Administrative Support Occupations with a 7% share of new job postings.

Top five companies in insurance industry accounted for 26% of hiring activity

The top five companies, in terms of number of new job postings tracked by GlobalData, accounted for a combined 26% share of the overall hiring activity in the global insurance industry in Q2 2024.

Allianz posted 7,407 jobs in Q2 2024 and registered a drop of 35% over the previous quarter, followed by Bajaj Finserv with 7,201 jobs and a 75% growth. Chubb with 6,243 jobs and AXA with 3,985 jobs, recorded a 98% growth and a 12% drop, respectively, while Progressive recorded a 1% drop with 3,398 job postings during Q2 2024.

Hiring activity was driven by North America with a 50% share of total new job postings, Q2 2024

North America held the leading share of the new job postings in the global insurance industry with a 50% share, 0.63% higher over Q1 2024. Asia-Pacific stood next with 24%, registering a 26% growth over the previous quarter.

Europe with a 19% share marked a 13% drop over Q1 2024. The Middle East & Africa and South & Central America accounted for shares of 0.08% and 0.79% respectively.

For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q2 2024, buy the report here.

This content was updated on 7 July 2024

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