The global insurance industry experienced 0.31% rise in new job postings related to future of work in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 48% decrease versus Q4 2022. GlobalData’s Insurance: Hiring Trends & Signals Q4 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the insurance industry, facilitating anticipation of future workforce needs. Buy the report here.
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Notably, Computer and Mathematical Occupations jobs accounted for a 23% share of the global insurance industry’s future of work-related total new job postings in Q4 2023, up 3% over the prior quarter.
Computer and Mathematical Occupations drive future of work-related hiring activity
Computer and Mathematical Occupations, with a share of 23%, emerged as the top future of work-related job roles within the insurance industry in Q4 2023, with new job postings rising by 3% quarter-on-quarter. Management Occupations came in second with a share of 18% in Q4 2023, with new job postings rising by 29% over the previous quarter.
The other prominent future of work roles include Business and Financial Operations Occupations with an 11% share in Q4 2023, Office and Administrative Support Occupations with a 8% share of new job postings.
Top five companies in insurance industry accounted for 36% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were Elevance Health, Marsh & McLennan, Dai-ichi Life, Allianz, and Chubb. Together they accounted for a combined share of 36% of all future of work-related new jobs in the insurance industry.
Elevance Health posted 1,927 future of work-related new jobs in Q4 2023, Marsh & McLennan 225 jobs, Dai-ichi Life 202 jobs, Allianz 173 jobs, and Chubb 164 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 65.34% share of total new job postings, Q4 2023
The largest share of future of work-related new job postings in the insurance industry in Q4 2023 was in the US with 65.34% followed by Canada (5.94%) and India (4.96%). The share represented by the US was five percentage points higher than the 59.86% share it accounted for in Q3 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q4 2023, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
