Insurance carriers plan to add staff over next 12 months

Insurers are planning to add new employees despite labor market challenges, according to the Semi-Annual U.S. Insurance Labor Market Study, conducted by The Jacobson Group and Ward, a business unit of Aon. 

The majority of respondents, 95%, said they plan to increase or maintain their current employee numbers over the next 12 months. The Q3, 2022 study includes revenue and hiring information from respondents in P&C, life, health and reinsurance.

Recruiting remains moderately difficult and at its highest point in the study’s 13-year history. Technology, actuarial and analytical roles seem to be the most difficult to fill, according to the study. Over half of carriers suggest their ability to hire is worse than a year ago.

Gregory P. Jacobson, co-chief executive officer of The Jacobson Group, said in a statement: “The talent shortage persists and we’re seeing continued movement at all professional levels, making it essential for insurance leaders to be future-focused, flexible, and efficient in their hiring and retention efforts.”

The next survey will be conducted in January 2023.