India’s insurance industry registered an 18.7% drop in IT hiring activity in October 2022 when compared with the previous month, according to GlobalData’s Job Analytics database.

The industry’s overall hiring is decreased by 20.06% in October 2022 when compared with September 2022.

Out of the insurance industry’s total hiring activity, IT jobs claimed a 10.97% share in October 2022, recording an increase of 0.23% over the last three-month average share.

Top five job classifications in India’s insurance industry’s IT recruitment activity in October 2022

Out of the total job titles, the top five roles commanded a 98.96% share in the overall IT recruitment activity of India’s insurance industry in October 2022.

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By GlobalData

1) Software and Web Developers, Programmers, and Testers recorded a share of 46.88% in October 2022, registering a 58.72% decline over the previous month.

2) Miscellaneous Computer Occupations claimed a 21.88% share, a decrease of 30% over the previous month.

3) Database and Network Administrators and Architects held a share of 16.67%, registering a 55.56% decline from September 2022.

4) Computer and Information Analysts captured a share of 10.42%, down 37.5% over the previous month.

Top five insurance companies in India’s IT recruitment activity in October 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, have accounted for a combined average decline of 34.15% share in the overall IT recruitment activity of India’s insurance industry during October 2022 over September 2022.

Swiss Re posted 20 IT jobs in October 2022 and registered a drop of 44.44% over the previous month, followed by Allianz with 12 jobs and an 1100% growth. Teachers Insurance and Annuity Association of America (TIAA) with 9 IT jobs and AIA Group with 7 jobs, recorded a 77.5% decline and a 250% growth, respectively, while Zurich Insurance Group recorded an increase of 100% with 6 job postings during October 2022.

Junior Level job postings dominate in October 2022

Junior Level jobs held a share of 61.46%, down by 52.03% from September 2022. Mid Level positions with a 33.33% share, registered a decline of 50% compared with the previous month.

In the third place was Entry Level job ads with a 5.21% share, flat growth over September 2022.