The global insurance industry experienced a 6% rise in new job postings related to insurtech in Q2 2024 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 30% increase versus Q2 2023. GlobalData’s Insurance: Hiring Trends & Signals Q2 2024 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, Business and Financial Operations Occupations jobs accounted for an 18% share of the global insurance industry’s insurtech-related total new job postings in Q2 2024, up 14% over the prior quarter.
Business and Financial Operations Occupations drive insurtech-related hiring activity
Business and Financial Operations Occupations, with a share of 18%, emerged as the top insurtech-related job roles within the insurance industry in Q2 2024, with new job postings rising by 14% quarter-on-quarter. Computer and Mathematical Occupations came in second with a share of 16% in Q2 2024, with new job postings rising by 9% over the previous quarter.
The other prominent insurtech roles include Management Occupations with a 13% share in Q2 2024, Office and Administrative Support Occupations with a 6% share of new job postings.
Top five companies in insurance industry accounted for 42% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q2 2024 were Chubb, QBE Insurance Group, Hastings Group, Charles Taylor, and Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft (Munich Re). Together they accounted for a combined share of 42% of all insurtech-related new jobs in the insurance industry.
Chubb posted 141 insurtech-related new jobs in Q2 2024, QBE Insurance Group 127 jobs, Hastings Group 124 jobs, Charles Taylor 78 jobs, and Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft (Munich Re) 43 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 40.62% share of total new job postings, Q2 2024
The largest share of insurtech-related new job postings in the insurance industry in Q2 2024 was in the US with 40.62% followed by the UK (27.86%) and Argentina (3.98%). The share represented by the US was five percentage points higher than the 35.25% share it accounted for in Q1 2024.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q2 2024, 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.
