The North American insurance industry experienced an 18% drop in new job postings in Q1 2023 compared with the previous quarter, with the highest share accounted for by UnitedHealth Group with 14,981 job postings, according to GlobalData’s analysis of insurance company job postings. Buy the report here.
Notably, Business and Financial Operations Occupations jobs accounted for a 16% share of the North American insurance industry’s total new job postings in Q1 2023, drop 12% over the prior quarter.
Business and Financial Operations Occupations drive insurance hiring activity
Business and Financial Operations Occupations, with a share of 16% new job postings, was the occupation with the greatest hiring activity in the North American insurance industry in Q1 2023 , ahead of Management Occupations with a 14% share of new job postings.
The other prominent roles included Computer and Mathematical Occupations with an 11% share in Q1 2023, Office and Administrative Support Occupations with a 9% share and Healthcare Practitioners and Technical Occupations with a 7% share of new job postings.
Top five companies accounted for 37% of hiring activity
UnitedHealth Group posted 14,981 jobs in Q1 2023 and registered a decline of 24% over the previous quarter, followed by Elevance Health with 3,782 jobs and a 17% drop. Arthur J. Gallagher & Co, with 2,847 jobs, and Chubb, with 2,755 jobs, recorded a 69% rise and a 66% rise, respectively, while Cigna Group recorded a 24% decline with a 2,342 new job postings during Q1 2023.
Regional analysis of hiring in the North American insurance industry, Q1 2023
The US held the leading share of the North American insurance hiring activity with a 92.82% share, an 18% decrease over Q4 2022. Canada was next with 5.91%, four-percentage-point down over the previous quarter.