The global insurance industry experienced a 25% drop in new job postings related to artificial intelligence in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 52% decrease versus Q3 2022. GlobalData’s Insurance: Hiring Trends & Signals Q3 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.
Notably, Computer and Mathematical Occupations jobs accounted for a 40% share of the global insurance industry’s artificial intelligence-related total new job postings in Q3 2023, down 33% over the prior quarter.
Computer and Mathematical Occupations drive artificial intelligence-related hiring activity
Computer and Mathematical Occupations, with a share of 40%, emerged as the top artificial intelligence-related job roles within the insurance industry in Q3 2023, with new job postings drop by 33% quarter-on-quarter. Management Occupations came in second with a share of 13% in Q3 2023, with new job postings dropping by 25% over the previous quarter.
The other prominent artificial intelligence roles include Business and Financial Operations Occupations with a 7% share in Q3 2023, Architecture and Engineering Occupations with a 2% share of new job postings.
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Top five companies in insurance industry accounted for 26% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were AXA, Allianz, M&G, Cambia Health Solutions, and Swiss Re. Together they accounted for a combined share of 26% of all artificial intelligence-related new jobs in the insurance industry.
AXA posted 162 artificial intelligence-related new jobs in Q3 2023, Allianz 111 jobs, M&G 96 jobs, Cambia Health Solutions 81 jobs, and Swiss Re 79 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 46.58% share of total new job postings, Q3 2023
The largest share of artificial intelligence-related new job postings in the insurance industry in Q3 2023 was in the US with 46.58% followed by India (8.26%) and Canada (7.28%). The share represented by the US was one percentage point lower than the 47.21% share it accounted for in Q2 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.