The global insurance industry experienced 0.98% rise in new job postings related to environmental sustainability in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 22% increase 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, Business and Financial Operations Occupations jobs accounted for a 23% share of the global insurance industry’s environmental sustainability-related total new job postings in Q3 2023, up 27% over the prior quarter.
Business and Financial Operations Occupations drive environmental sustainability-related hiring activity
Business and Financial Operations Occupations, with a share of 23%, emerged as the top environmental sustainability-related job roles within the insurance industry in Q3 2023, with new job postings rising by 27% quarter-on-quarter. Management Occupations came in second with a share of 14% in Q3 2023, with new job postings dropping by 16% over the previous quarter.
The other prominent environmental sustainability roles include Computer and Mathematical Occupations with a 12% share in Q3 2023, Office and Administrative Support Occupations with a 7% share of new job postings.
Top five companies in insurance industry accounted for 60% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were Manulife Financial, AXA, Phoenix Group, Legal & General Group, and Zurich Insurance Group. Together they accounted for a combined share of 60% of all environmental sustainability-related new jobs in the insurance industry.
Manulife Financial posted 1,251 environmental sustainability-related new jobs in Q3 2023, AXA 647 jobs, Phoenix Group 229 jobs, Legal & General Group 144 jobs, and Zurich Insurance Group 137 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 28.00% share of total new job postings, Q3 2023
The largest share of environmental sustainability-related new job postings in the insurance industry in Q3 2023 was in the US with 28.00% followed by the UK (19.42%) and Canada (11.68%). The share represented by the US was 0 percentage points lower than the 28.07% share it accounted for in Q2 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.