The North American insurance industry experienced a 15% drop in new job postings in Q4 2023 compared with the previous quarter, with the highest share accounted for by Progressive with 2,155 job postings, according to GlobalData’s analysis of insurance company job postings. 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 North American insurance industry’s total new job postings in Q4 2023, drop 5% over the prior quarter.
Business and Financial Operations Occupations drive insurance industry hiring activity
Business and Financial Operations Occupations, with a share of 23% new job postings, was the occupation with the greatest hiring activity in the North American insurance industry in Q4 2023 , ahead of Management Occupations with a 14% share of new job postings.
The other prominent roles included Sales and Related Occupations with a 12% share in Q4 2023, Computer and Mathematical Occupations with an 11% share and Office and Administrative Support Occupations with a 10% share of new job postings.
Top five companies accounted for 24% of hiring activity
Progressive posted 2,155 jobs in Q4 2023 and registered a growth of 152% over the previous quarter, followed by Elevance Health with 1,927 jobs and a 26% growth. Freeway Insurance Services Amercia, with 1,633 jobs, and Arthur J. Gallagher & Co, with 1,399 jobs, recorded a 106% rise and a 15% drop, respectively, while Marsh & McLennan recorded a 15% decline with a 1,266 new job postings during Q4 2023.
Regional analysis of hiring in the North American insurance industry, Q4 2023
The US held the leading share of the North American insurance hiring activity with an 88.76% share, a 17% decrease over Q3 2023. Canada was next with 8.74%, four-percentage-point down over the previous quarter.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q4 2023, buy the report here.
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