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June 14, 2022

India’s insurance industry IT recruitment activity drops 5.1% in May 2022

By Carmen

India’s insurance industry registered a 5.1% drop in IT hiring activity in May 2022 when compared with the previous month, according to GlobalData’s Job Analytics database.

The industry’s overall hiring is decreased by 3.87% in May 2022 when compared with April 2022.

Out of the insurance industry’s total hiring activity, IT jobs claimed a 4.53% share in May 2022, recording a decrease of 2.6% over the last three-month average share.

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

Out of the total job titles, the top five roles commanded a 100% share in the overall IT recruitment activity of India’s insurance industry in May 2022.

1) Software and Web Developers, Programmers, and Testers recorded a share of 40.91% in May 2022, registering a 36.84% decline over the previous month.

2) Miscellaneous Computer Occupations claimed a 37.5% share, a decrease of 15.38% over the previous month.

3) Database and Network Administrators and Architects held a share of 18.18%, registering a 20% decline from April 2022.

4) Computer Support Specialists captured a share of 2.27%, flat growth over the previous month.

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

The top five companies, in terms of number of jobs as tracked by GlobalData, have accounted for a combined average decline of 3.77% share in the overall IT recruitment activity of India’s insurance industry during May 2022 over April 2022.

Swiss Re posted 17 IT jobs in May 2022 and registered a rise of 30.77% over the previous month, followed by FBD with 12 jobs and a 14.29% drop. Zurich Insurance Group with 10 IT jobs and Sun Life Financial with 7 jobs, recorded a 9.09% decline and a 22.22% decrease, respectively, while Old Mutual recorded a decline of 16.67% with 5 job postings during May 2022.

Junior Level job postings dominate in May 2022

Junior Level jobs held a share of 69.32%, down by 21.79% from April 2022. Mid Level positions with a 25% share, registered a decline of 38.89% compared with the previous month.

In the third place was Entry Level job ads with 4.55% share, down 42.86% over April 2022, while Senior postings accounted for 1.14%, recording a month-on-month flat growth.

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