15 Trends in P/C Insurance Employment
The current P/C insurance employment picture, much like the economic outlook, is mixed. Employers remain cautious about adding to payroll but there are opportunities depending on the region of the country and job type. After speaking with dozens of insurance employers, Insurance Journal uncovered a number of trends that characterize today’s job situation.
More with Less
Many employers got used to doing more with fewer people during the downturn.
Insurance hiring may rise but it will likely still lag behind insurance demand.
Referrals from employees, friends and clients remains the most popular recruitment tool.
Sales and claims areas appear to have the best opportunities.
Where employers are hiring, finding people with good technical skills remains a challenge.
Only one-third of independent agencies nationwide expect to boost staff size in 2012: IJ survey.
Importance of networking: only a fraction of all job openings ever get advertised.
Recovering economy and hardening market are positive signs for insurance job market.
Many agencies are perpetually on a lookout for good producers.
Temp to Perm
Increase in hiring of temporary workers could signal more permanent hires soon.
Technology is replacing jobs for service and some personal lines jobs.
Enrollment in insurance degree courses is up.
Turnover in insurance jobs is low.
Employers and job seekers are using social media like LinkedIn to connect with each other.
Rising in the East
East Coast looks more favorable for insurance jobs in short-term than West Coast.
Around the Country
Employment prospects vary greatly by employer, region and job specialty. For a closer look, Insurance Journal editors interviewed property/casualty industry leaders in their respective regions and will be filing the following reports this week:
- National: Jobs Outlook Improving, Slowly
- East: Insurance Hiring Is ‘Slightly Elevated’ in 2012
- West: California Insurance Employment to Stay Soft
- Southeast: Agency, Carrier Plans Brighten Southeast Jobs Picture
- South Central: Oil, Economy Fuel Texas Hiring
- Midwest: Good Talent Always a Priority for Midwest