What You Need to Know
- Life and health insurers are hungrier than other insurers for actuaries.
- They have less interest in expanding claims staffs.
- Demand for compliance employees may be moderate, but stronger than at other types of insurers.
U.S. life and health insurers have been doing well enough in recent months to go out hiring.
They plan to expand employment by 1.69% over the next 12 months, according to analysts at the Jacobson Group and Aon’s Ward unit.
About 65% of the insurers that participated in a labor market survey predicted that they will increase their number of workers in the coming year.
In January 2021, only 43% of those insurers thought they could do well enough in the COVID-19 era to expand. But by December, 48% of the insurers had expanded. Only 19% had cut the number of employees.
Jacobson is a Chicago-based firm that helps companies in the insurance industry with hiring.
Ward is a company that compiles performance comparison data for companies in the insurance industry.
The firms base their quarterly and annual insurance sector data on a voluntary employer survey.