The global insurance industry noticed an 11.0% drop in IT hiring activity in November 2022 over the previous month, led by UnitedHealth Group’s 17.12% share, according to GlobalData’s Jobs Analytics database.
The insurance industry’s overall hiring activity declined 9.81% when compared with October 2022.
Noticeably, IT jobs accounted for a 9.94% share of the global insurance industry’s hiring activity in November 2022, down 0.38% over the last three-month average share.
According to GlobalData, IT job opportunities available at the end of November 2022 were 15.25% lower when compared with the previous month.
The decrease was a result of 30.24% 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 44.61% emerged as the top IT occupation in the insurance hiring activity in November 2022, a 30.98% decline over the previous month. Miscellaneous Computer Occupations came in second with a share of 18.1% in November 2022, down 26.14% over the previous month.
The other prominent IT roles include Database and Network Administrators and Architects with a 15.71% share in November 2022, a decline of 37.56% over the previous month, and Computer and Information Analysts with a 15.4% share in November 2022 and a drop of 25.45% over October 2022.
Top five insurance companies by 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 10.09% share in the overall IT recruitment activity of global insurance industry during November 2022 over October 2022.
UnitedHealth Group posted 596 IT jobs in November 2022 and registered a drop of 17.79% over the previous month, followed by Zurich Insurance Group with 208 jobs and a 9.57% decline. Centene with 185 IT jobs and Elevance Health with 135 jobs, recorded a 65.18% growth and a 19.64% drop, respectively, while Swiss Re recorded an 18.95% drop with 124 job postings during November 2022.
Regional composition of IT hiring in insurance industry
North America emerged as the leading region in the global insurance IT hiring activity in November 2022 with a 67.28% share, which marked a 26.49% drop over the previous month.
Europe stood next with 18.18%, registering a 38.24% month-on-month decline. Asia-Pacific was the third leading region with an 8.79% share and a 29.66% drop over October 2022.
In the fourth place was Middle East & Africa with a share of 4.45% and a month-on-month drop of 46.92%. South & Central America stood at the bottom of the table with a share of 1.29%, registering a 12.5% increase over the previous month.