Europe witnessed a 5.9% drop in IT hiring activity in the insurance industry in November 2022 when compared with the previous month, according to GlobalData’s Job Analytics dashboard.

November 2022 has seen an increase of 0.38% in the overall hiring activity when compared with October 2022.

IT jobs accounted for a 10.67% share in the industry’s total hiring activity in November 2022, registering a decrease of 0.99% over the last three-month average share.

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

Software and Web Developers, Programmers, and Testers Occupations emerged as the leading IT occupation in Europe with a share of 43.92% in November 2022, a 35.35% drop over the previous month. Miscellaneous Computer Occupations came in next, claiming a share of 21.17% in November 2022, marking a 44.4% month-on-month decline. In the third place was Database and Network Administrators and Architects with a share of 17.22% in November 2022, a 42.93% drop from October 2022.

Computer and Information Analysts registered a share of 13.27% in November 2022, a 38.24% decline over the previous month.

Top five insurance companies in Europe’s IT recruitment activity in November 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 44.31% in the overall IT recruitment activity of Europe’s insurance industry during November 2022 over previous month.

Allianz posted 104 IT jobs in November 2022 and registered a decline of 68.29% over the previous month, followed by Zurich Insurance Group with 103 jobs and a 16.94% drop. Swiss Re with 83 IT jobs and AXA with 43 jobs, recorded a 26.55% drop and a 32.81% drop, respectively, while Willis Towers Watson recorded a 38.1% increase with 29 job postings during November 2022.

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

The UK commanded a leading presence in the region’s insurance industry IT hiring activity with a 30.49% share in November 2022, a 22.49% decrease over October 2022. Germany featured next with an 18.8% share, down 57.04% over the previous month. Spain recorded a 10.43% share, a drop of 34% compared with October 2022.

Junior Level job postings dominate in November 2022

Junior Level jobs held a share of 69.51%, down by 43.52% from October 2022. Entry Level positions with a 15.64% share, registered a decline of 6.6% compared with the previous month.

In the third place was Mid Level job ads with 14.69% share, down 27.34% over October 2022, while Senior postings accounted for 0.16%, recording a month-on-month decline of 91.67%.