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September 6, 2022

IT hiring in global insurance industry drops 3.7% in August 2022

By Carmen

The global insurance industry noticed a 3.7% drop in IT hiring activity in August 2022 over the previous month, led by UnitedHealth Group’s 9% share, according to GlobalData’s Jobs Analytics database.

The insurance industry’s overall hiring activity declined 0.99% when compared with July 2022.

Noticeably, IT jobs accounted for a 10.31% share of the global insurance industry’s hiring activity in August 2022, down 0.3% over the last three-month average share.

According to GlobalData, IT job opportunities available at the end of August 2022 were 8.82% lower when compared with the previous month.

The decrease was a result of 16.61% 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 45.16% emerged as the top IT occupation in the insurance hiring activity in August 2022, a 7.69% decline over the previous month. Miscellaneous Computer Occupations came in second with a share of 17.31% in August 2022, up 1.64% over the previous month.

The other prominent IT roles include Database and Network Administrators and Architects with a 17.31% share in August 2022, a growth of 5.77% over the previous month, and Computer and Information Analysts with a 13.92% share in August 2022 and a rise of 3.35% over July 2022.

Top five insurance companies by recruitment activity in August 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 12.19% share in the overall IT recruitment activity of global insurance industry during August 2022 over July 2022.

UnitedHealth Group posted 419 IT jobs in August 2022 and registered a drop of 34.94% over the previous month, followed by Centene with 335 jobs and an 18.37% growth. Zurich Insurance Group with 265 IT jobs and Teachers Insurance and Annuity Association of America (TIAA) with 154 jobs, recorded a 7.67% decline and a 79.07% rise, respectively, while Swiss Re recorded a 27.27% drop with 152 job postings during August 2022.

Regional composition of IT hiring in insurance industry

North America emerged as the leading region in the global insurance IT hiring activity in August 2022 with a 66.23% share, which marked a 0.87% drop over the previous month.

Europe stood next with 14.84%, registering a 14.05% month-on-month decline. Asia-Pacific was the third leading region with an 11.54% share and a 2.72% drop over July 2022.

In the fourth place was Middle East & Africa with a share of 5.39% and a month-on-month rise of 18.96%. South & Central America stood at the bottom of the table with a share of 2%, registering a 47.62% increase over the previous month.

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