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August 11, 2022

IT hiring in global insurance industry drops 4.7% in July 2022

By Carmen

The global insurance industry noticed a 4.7% drop in IT hiring activity in July 2022 over the previous month, led by UnitedHealth Group’s 13.48% share, according to GlobalData’s Jobs Analytics database.

The insurance industry’s overall hiring activity declined 3.96% when compared with June 2022.

Noticeably, IT jobs accounted for a 10.63% share of the global insurance industry’s hiring activity in July 2022, up 0.11% over the last three-month average share.

According to GlobalData, IT job opportunities available at the end of July 2022 were 8.99% lower when compared with the previous month.

The decrease was a result of 17.33% 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 48.11% emerged as the top IT occupation in the insurance hiring activity in July 2022, a 13.11% decline over the previous month. Miscellaneous Computer Occupations came in second with a share of 16.83% in July 2022, down 1.78% over the previous month.

The other prominent IT roles include Database and Network Administrators and Architects with a 15.93% share in July 2022, a decline of 14.17% over the previous month, and Computer and Information Analysts with a 13.24% share in July 2022 and a drop of 28.52% over June 2022.

Top five insurance companies by recruitment activity in July 2022

The top five companies, in terms of number of jobs as tracked by GlobalData, accounted for a combined average decline of 7.84% share in the overall IT recruitment activity of global insurance industry during July 2022 over June 2022.

UnitedHealth Group posted 620 IT jobs in July 2022 and registered a drop of 26.8% over the previous month, followed by Zurich Insurance Group with 286 jobs and a 1.06% growth. Centene with 277 IT jobs and Swiss Re with 208 jobs, recorded a 95.07% growth and a 1.42% drop, respectively, while USAA recorded a 21.59% drop with 138 job postings during July 2022.

Regional composition of IT hiring in insurance industry

North America emerged as the leading region in the global insurance IT hiring activity in July 2022 with a 65.83% share, which marked a 16.77% drop over the previous month.

Europe stood next with 16.52%, registering a 5.26% month-on-month growth. Asia-Pacific was the third leading region with an 11.67% share and a 15.7% drop over June 2022.

In the fourth place was Middle East & Africa with a share of 4.59% and a month-on-month drop of 23.55%. South & Central America stood at the bottom of the table with a share of 1.39%, registering a 16.88% decrease over the previous month.

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