The global insurance industry experienced a 7% drop in new job postings related to social responsibility in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to an 8% increase versus Q1 2022. The key social themes, commitment details of leading companies to social responsibility, and discussions and hiring activity for social responsibility in Insurance and 15 other key sectors are covered in GlobalData’s Social Responsibility Trends by Sector – Thematic Intelligence report. Buy the report here.
Notably, Management Occupations jobs accounted for a 19% share of the global insurance industry’s social responsibility-related total new job postings in Q1 2023, up 6% over the prior quarter.
Management Occupations drive social responsibility-related hiring activity
Management Occupations, with a share of 19%, emerged as the top social responsibility-related job roles within the insurance industry in Q1 2023, with new job postings rising by 6% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 14% in Q1 2023, with new job postings rising by 5% over the previous quarter.
The other prominent social responsibility roles include Computer and Mathematical Occupations with a 10% share in Q1 2023, Office and Administrative Support Occupations with a 10% share of new job postings.
Top five companies in insurance industry accounted for 47% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were UnitedHealth Group, Risk Placement Services, BNP Paribas Cardif, Manulife Financial, and Intact Financial. Together they accounted for a combined share of 47% of all social responsibility-related new jobs in the insurance industry.
UnitedHealth Group posted 1,977 social responsibility-related new jobs in Q1 2023, Risk Placement Services 1,795 jobs, BNP Paribas Cardif 569 jobs, Manulife Financial 413 jobs, and Intact Financial 380 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 66.01% share of total new job postings, Q1 2023
The largest share of social responsibility-related new job postings in the insurance industry in Q1 2023 was in the US with 66.01% followed by Canada (8.41%) and the UK (7.21%). The share represented by the US was 12 percentage points higher than the 54.00% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on Social Responsibility Trends by Sector – Thematic Intelligence buy the report here.