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May 30, 2022

IT hiring in global insurance industry drops 1.7% in April 2022

By Carmen

The global insurance industry noticed a 1.7% drop in IT hiring activity in April 2022 over the previous month, led by UnitedHealth Group’s 13.5% share, according to GlobalData’s Jobs Analytics database.

The insurance industry’s overall hiring activity declined 3.14% when compared with March 2022.

Noticeably, IT jobs accounted for an 11.72% share of the global insurance industry’s hiring activity in April 2022, up 0.26% over the last three-month average share.

According to GlobalData, IT job opportunities available at the end of April 2022 were 1.3% lower when compared with the previous month.

The decrease was a result of 2.38% 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 57.41% emerged as the top IT occupation in the insurance hiring activity in April 2022, a 9.36% decline over the previous month. Miscellaneous Computer Occupations came in second with a share of 18.19% in April 2022, down 4.45% over the previous month.

The other prominent IT roles include Database and Network Administrators and Architects with an 11.45% share in April 2022, a decline of 6.21% over the previous month, and Computer and Information Analysts with a 9.7% share in April 2022 and a rise of 5.16% over March 2022.

Top five insurance companies by recruitment activity in April 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average growth of 0.92% share in the overall IT recruitment activity of global insurance industry during April 2022 over March 2022.

UnitedHealth Group posted 765 IT jobs in April 2022 and registered a drop of 7.27% over the previous month, followed by Anthem with 600 jobs and a 27.27% decline. Zurich Insurance Group with 303 IT jobs and Swiss Re with 274 jobs, recorded a 2.02% growth and a 34.98% rise, respectively, while Dai-ichi Life Holdings recorded an 844.44% rise with 255 job postings during April 2022.

Regional composition of IT hiring in insurance industry

North America emerged as the leading region in the global insurance IT hiring activity in April 2022 with a 72.6% share, which marked a 12.52% drop over the previous month.

Europe stood next with 15.9%, registering a 5.13% month-on-month growth. Asia-Pacific was the third leading region with a 6.51% share and a 2.5% rise over March 2022.

In the fourth place was Middle East & Africa with a share of 4.04% and a month-on-month rise of 27.22%. South & Central America stood at the bottom of the table with a share of 0.95%, registering a 15.63% decrease over the previous month.

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