The global insurance industry experienced a 32% drop in new job postings related to cloud in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 58% decrease versus Q3 2022. 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, Computer and Mathematical Occupations jobs accounted for a 44% share of the global insurance industry’s cloud-related total new job postings in Q3 2023, down 38% over the prior quarter.
Computer and Mathematical Occupations drive cloud-related hiring activity
Computer and Mathematical Occupations, with a share of 44%, emerged as the top cloud-related job roles within the insurance industry in Q3 2023, with new job postings drop by 38% quarter-on-quarter. Management Occupations came in second with a share of 12% in Q3 2023, with new job postings dropping by 35% over the previous quarter.
The other prominent cloud roles include Business and Financial Operations Occupations with a 4% share in Q3 2023, Architecture and Engineering Occupations with a 3% share of new job postings.
Top five companies in insurance industry accounted for 23% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were AXA, Allianz, Swiss Re, Manulife Financial, and Zurich Insurance Group. Together they accounted for a combined share of 23% of all cloud-related new jobs in the insurance industry.
AXA posted 292 cloud-related new jobs in Q3 2023, Allianz 138 jobs, Swiss Re 135 jobs, Manulife Financial 127 jobs, and Zurich Insurance Group 99 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 45.73% share of total new job postings, Q3 2023
The largest share of cloud-related new job postings in the insurance industry in Q3 2023 was in the US with 45.73% followed by the UK (7.85%) and Canada (7.25%). The share represented by the US was six percentage points lower than the 51.56% share it accounted for in Q2 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.