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October 12, 2022

IT hiring in global insurance industry drops 1.3% in September 2022

By Carmen

The global insurance industry noticed a 1.3% drop in IT hiring activity in September 2022 over the previous month, led by UnitedHealth Group’s 11.6% share, according to GlobalData’s Jobs Analytics database.

The insurance industry’s overall hiring activity declined 1.12% when compared with August 2022.

Noticeably, IT jobs accounted for a 10.36% share of the global insurance industry’s hiring activity in September 2022, down 0.19% over the last three-month average share.

According to GlobalData, IT job opportunities available at the end of September 2022 were 14.04% lower when compared with the previous month.

The decrease was a result of 23.27% higher job postings as compared to job closures during the month.

Software and Web Developers, Programmers, and Testers drive insurance IT hiring activity

Software and Web Developers, Programmers, and Testers with a share of 44.95% emerged as the top IT occupation in the insurance hiring activity in September 2022, a 5.35% decline over the previous month. Miscellaneous Computer Occupations came in second with a share of 19.1% in September 2022, up 6.7% over the previous month.

The other prominent IT roles include Database and Network Administrators and Architects with a 16.4% share in September 2022, a decline of 6.61% over the previous month, and Computer and Information Analysts with a 14.5% share in September 2022 and a rise of 1.68% over August 2022.

Top five insurance companies by recruitment activity in September 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average growth of 4.36% share in the overall IT recruitment activity of global insurance industry during September 2022 over August 2022.

UnitedHealth Group posted 580 IT jobs in September 2022 and registered a drop of 7.2% over the previous month, followed by Centene with 270 jobs and a 24.16% decline. Sanlam with 261 IT jobs and Dai-ichi Life Holdings with 236 jobs, recorded an 80% growth and a 93.44% rise, respectively, while Zurich Insurance Group recorded a 12.36% drop with 234 job postings during September 2022.

Regional composition of IT hiring in insurance industry

North America emerged as the leading region in the global insurance IT hiring activity in September 2022 with a 67.91% share, which marked a 4.53% drop over the previous month.

Europe stood next with 13.68%, registering a 5.91% month-on-month decline. Asia-Pacific was the third leading region with a 9.88% share and a 10.18% drop over August 2022.

In the fourth place was Middle East & Africa with a share of 7.62% and a month-on-month rise of 42.7%. South & Central America stood at the bottom of the table with a share of 0.9%, registering a 52.63% decrease over the previous month.

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