The Australian insurance industry experienced a 24% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by Insurance Australia Group with 262 job postings according to GlobalData’s analysis of insurance company job postings. 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, Business and Financial Operations Occupations jobs accounted for a 20% share of the Australian insurance industry new job postings in Q3 2023, down by 20% over the prior quarter.
Business and Financial Operations Occupations drive insurance industry hiring activity
Of the industry's total hiring activity, the highest number of new job postings were for Business and Financial Operations Occupations, which accounted for 20% of the total new job postings in Q3 2023 and were up by 14% year-on-year. Second highest were Management Occupations, which accounted for 16% and drop by 14% year-on-year, and third highest were Computer and Mathematical Occupations, which were 39% of the new job postings and 24% lower year-on-year.
Top five companies in insurance industry accounted for 58% of hiring activity
The highest number of jobs were posted by Insurance Australia Group with 262, followed by Allianz with 169, while the highest increase was at Arthur J. Gallagher & Co at 0%.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.