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Q3 2024 Insurance Labor Market Study: Recruiting Difficulty Eases Slightly

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The Q3 2024 Insurance Labor Market Study, conducted by The Jacobson Group and Aon (NYSE: AON), reveals that 86% of insurance carriers plan to increase or maintain staff size in the next 12 months. Key findings include:

- 52% plan to increase staff, 34% maintain, and 14% decrease
- Underwriting, claims, and technology roles are in highest demand
- 79% expect revenue growth in the next year
- 72% expect hybrid work schedules
- Recruiting difficulty has eased, but remains challenging for some roles
- Industry employment projected to increase by 0.58% in the next year

The study indicates a relatively stable insurance industry with modest job growth expected, despite slight easing in recruiting difficulty and slowing turnover.

Lo studio sul mercato del lavoro nell'assicurazione del Q3 2024, condotto da The Jacobson Group e Aon (NYSE: AON), rivela che l'86% delle compagnie assicurative prevede di aumentare o mantenere il numero di dipendenti nei prossimi 12 mesi. Le principali scoperte includono:

- Il 52% prevede di aumentare il personale, il 34% di mantenere e il 14% di ridurre
- Le posizioni in sottoscrittura, gestione dei sinistri e tecnologia sono quelle più richieste
- Il 79% prevede una crescita dei ricavi nell'anno a venire
- Il 72% prevede orari di lavoro ibridi
- La difficoltà di reclutamento è diminuita, ma rimane sfidante per alcune posizioni
- Si prevede un incremento dell'occupazione nel settore dello 0.58% nell'anno successivo

Lo studio indica un settore assicurativo relativamente stabile con una modesta crescita occupazionale prevista, nonostante un leggero allentamento nelle difficoltà di reclutamento e un rallentamento nel turnover.

El estudio del mercado laboral de seguros del Q3 2024, realizado por The Jacobson Group y Aon (NYSE: AON), revela que el 86% de las compañías de seguros planean aumentar o mantener su plantilla en los próximos 12 meses. Los hallazgos clave incluyen:

- El 52% planea aumentar el personal, el 34% mantenerlo y el 14% reducirlo
- Los roles en suscripción, gestión de reclamaciones y tecnología son los de mayor demanda
- El 79% espera un crecimiento de ingresos en el próximo año
- El 72% espera horarios de trabajo híbridos
- La dificultad de reclutamiento ha disminuido, pero sigue siendo un desafío para algunos puestos
- Se proyecta un aumento del empleo en la industria del 0.58% en el próximo año

El estudio indica que la industria de seguros es relativamente estable, con un crecimiento modesto del empleo esperado, a pesar de la leve disminución en las dificultades de reclutamiento y la desaceleración de la rotación.

2024년 3분기 보험 노동 시장 연구는 Jacobson Group와 Aon (NYSE: AON)이 수행하였으며, 86%의 보험사들이 향후 12개월 동안 직원 수를 늘리거나 유지할 계획임을 밝혔습니다. 주요 발견 사항은 다음과 같습니다:

- 52%는 직원을 늘릴 계획이며, 34%는 유지, 14%는 감소할 예정입니다.
- 보험 언더라이팅, 클레임 및 기술 직무가 가장 수요가 높습니다.
- 79%는 내년에 수익 성장을 기대합니다.
- 72%는 하이브리드 근무 일정을 기대합니다.
- 채용의 어려움은 다소 완화되었지만, 몇몇 직무에서는 여전히 도전적입니다.
- 산업 고용은 다음 해에 0.58% 증가할 것으로 예상됩니다.

이 연구는 채용 어려움의 약간의 완화와 이직률의 둔화에도 불구하고, 상대적으로 안정적인 보험 산업과 modest한 직업 성장 전망을 나타냅니다.

L'étude du marché du travail dans le secteur des assurances pour le T3 2024, réalisée par The Jacobson Group et Aon (NYSE: AON), révèle que 86% des assureurs prévoient d'augmenter ou de maintenir le personnel au cours des 12 prochains mois. Les principales conclusions comprennent :

- 52% prévoient d'augmenter le personnel, 34% de le maintenir et 14% de le réduire
- Les postes de souscription, de gestion des sinistres et de technologie sont les plus demandés
- 79% s'attendent à une croissance des revenus dans l'année à venir
- 72% s'attendent à des horaires de travail hybrides
- Les difficultés de recrutement ont diminué, mais restent un défi pour certains postes
- L'emploi dans le secteur devrait augmenter de 0,58% au cours de l'année suivante

L'étude indique une industrie de l'assurance relativement stable avec une croissance modeste de l'emploi prévue, malgré un léger assouplissement des difficultés de recrutement et un ralentissement du turnover.

Die Studie zum Arbeitsmarkt in der Versicherungsbranche für das 3. Quartal 2024, durchgeführt von The Jacobson Group und Aon (NYSE: AON), zeigt, dass 86% der Versicherungsunternehmen planen, die Mitarbeiterzahl zu erhöhen oder beizubehalten in den nächsten 12 Monaten. Zu den wichtigsten Erkenntnissen gehören:

- 52% planen eine Erhöhung des Personals, 34% wollen es beibehalten und 14% eine Verringerung
- Die Nachfrage nach Positionen in der Underwriting, Schadensmeldung und Technologie ist am höchsten
- 79% erwarten ein Umsatzwachstum im kommenden Jahr
- 72% erwarten hybride Arbeitszeiten
- Die Rekrutierungsschwierigkeiten haben nachgelassen, sind aber für einige Positionen weiterhin herausfordernd
- Die Beschäftigung in der Branche wird im nächsten Jahr voraussichtlich um 0,58% steigen

Die Studie deutet auf eine relativ stabile Versicherungsbranche hin, in der ein moderates Beschäftigungswachstum zu erwarten ist, trotz leichter Erleichterung bei den Rekrutierungsschwierigkeiten und einer Verlangsamung der Fluktuation.

Positive
  • 86% of insurance carriers plan to increase or maintain staff size in the next 12 months
  • 79% of companies expect revenue growth during the next 12 months
  • Projected 0.58% increase in industry employment over the next year
  • Recruiting difficulty has eased in eight of 11 categories
Negative
  • 14% of companies plan to decrease headcount, 4 points higher than last year
  • Actuarial, executive, and analytics roles remain challenging to fill

CHICAGO--(BUSINESS WIRE)-- The latest iteration of the Semi-Annual U.S. Insurance Labor Market Study, conducted by The Jacobson Group, the leading provider of talent to the insurance industry, and Aon, a leading global professional services firm, found 86% of respondents intend to increase or maintain staff size in the next 12 months.

“The insurance industry remains relatively stable with modest job growth expected for the next year,” said Gregory P. Jacobson, co-chief executive officer of The Jacobson Group. “While recruiting difficulty has slightly eased, insurance unemployment is low and turnover is slowing.”

“As companies continue their efforts toward building a resilient business and workforce, underwriting, claims and other technical roles remain in demand,” added Jeff Rieder, partner and head of Performance Benchmarking at Aon’s Strategy and Technology Group.

Some of the study’s key findings include the following:

  • In the next 12 months, 52% of insurance carriers plan to increase staff and 34% plan to maintain their current staff size. 14% are planning to decrease their headcounts, which is 4 points higher than last year.
  • Underwriting, claims and technology roles are the industry’s greatest need. This is the first time in the study’s history that technology roles are not the most in demand.
  • Seventy-nine percent of companies expect to grow revenue during the next 12 months; this is 2 points higher than the January 2024 study.
  • During the next six months, 72% of companies expect most employees to work a hybrid schedule. Just 4% require employees in the office every day.
  • Recruiting difficulty has eased in eight of 11 categories; however, most positions remain at least moderately difficult to fill. Actuarial, executive and analytics roles are the most challenging.
  • If carriers follow through on their plans, the industry will see a 0.58% increase in employment during the next 12 months.

For more highlights and commentary, download the full results summary and view the recorded webcast here.

The insurance labor market study has been conducted semi-annually for 15 years. Collecting revenue and hiring projections from carriers across all sectors of the industry, it provides a valuable look at the insurance labor market outlook and hiring trends.

The study’s next iteration will occur in January 2025. To be notified when it opens, follow this link.

About The Jacobson Group:

The Jacobson Group is the leading provider of talent to the insurance industry. For more than 50 years, Jacobson has been connecting insurance organizations with professionals at all levels across all industry verticals. Jacobson provides insurance talent solutions to support virtually any human capital need. We offer executive search services and comprehensive staffing solutions, including professional recruiting, temporary staffing and interim experts.

Follow The Jacobson Group on LinkedIn, X and Facebook.

About Aon:

Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses.

Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.

Aon UK Limited is authorised and regulated by the Financial Conduct Authority for the provision of regulated products and services in the UK. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN. Tel: 020 7623 5500. Aon is not responsible for the content of the third party website.

The Jacobson Group

Whitney Stephens

+1 (312) 628-0376

wstephens@jacobsononline.com

Aon plc

Andrew Wragg

+44 (0) 7595 217168

andrew.wragg@aon.com

Source: The Jacobson Group

FAQ

What percentage of insurance carriers plan to increase staff in the next 12 months according to the Q3 2024 study?

According to the Q3 2024 Insurance Labor Market Study, 52% of insurance carriers plan to increase staff in the next 12 months.

Which roles are in highest demand in the insurance industry as per the Q3 2024 study?

The study found that underwriting, claims, and technology roles are in highest demand in the insurance industry.

What percentage of insurance companies expect revenue growth in the next 12 months?

79% of insurance companies expect to grow revenue during the next 12 months, which is 2 points higher than the January 2024 study.

How much is the insurance industry employment expected to increase in the next 12 months?

If carriers follow through on their plans, the insurance industry is expected to see a 0.58% increase in employment during the next 12 months.

What percentage of insurance companies expect employees to work hybrid schedules in the next six months?

During the next six months, 72% of insurance companies expect most employees to work a hybrid schedule.

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