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November 8, 2022

Asia-Pacific’s insurance industry IT hiring activity drops 9.2% in October 2022

By Carmen

Asia-Pacific witnessed a 9.2% drop in IT hiring activity in the insurance industry in October 2022 when compared with the previous month, according to GlobalData’s Job Analytics dashboard.

October 2022 has seen a decrease of 11.49% in the overall hiring activity when compared with September 2022.

IT jobs accounted for an 11.24% share in the industry’s total hiring activity in October 2022, registering an increase of 0.3% over the last three-month average share.

Software and Web Developers, Programmers, and Testers Occupations leads by classification in October 2022

Software and Web Developers, Programmers, and Testers Occupations emerged as the leading IT occupation in Asia-Pacific with a share of 40.27% in October 2022, a 36.36% drop over the previous month. Miscellaneous Computer Occupations came in next, claiming a share of 22.74% in October 2022, marking a 22.43% month-on-month decline. In the third place was Database and Network Administrators and Architects with a share of 16.16% in October 2022, a 13.24% drop from September 2022.

Computer and Information Analysts registered a share of 15.89% in October 2022, a 21.62% decline over the previous month.

Top five insurance companies in Asia-Pacific’s IT recruitment activity in October 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average growth of 5.66% in the overall IT recruitment activity of Asia-Pacific’s insurance industry during October 2022 over previous month.

Allianz posted 46 IT jobs in October 2022 and registered an increase of 2200% over the previous month, followed by Manulife Financial with 42 jobs and a 2.33% drop. Zurich Insurance Group with 32 IT jobs and Willis Towers Watson with 24 jobs, recorded a 5.88% drop and a 36.84% drop, respectively, while Swiss Re recorded a 42.86% decline with 24 job postings during October 2022.

Country-wise composition of IT hiring in Asia-Pacific’s insurance industry

India commanded a leading presence in the region’s insurance industry IT hiring activity with a 26.3% share in October 2022, a 50% decrease over September 2022. Philippines featured next with a 21.64% share, down 16.84% over the previous month. Singapore recorded a 12.6% share, a drop of 8% compared with September 2022.

Junior Level job postings dominate in October 2022

Junior Level jobs held a share of 70.96%, down by 21.04% from September 2022. Mid Level positions with an 18.9% share, registered a decline of 42.98% compared with the previous month.

In the third place was Entry Level job ads with 9.32% share, down 37.04% over September 2022, while Senior postings accounted for 0.82%, recording a month-on-month growth of 200%.

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