Insurance industry hiring appears to be steady with 54.5 percent of companies saying they intend to increase staff and 77.4 percent expect to grow revenue.
If the industry follows through on its plans, there will be a one percent increase in industry employment during the next 12 months, according to the Mid-Year Insurance Labor Market Study conducted by The Jacobson Group and Ward Group.
The finding that 54.5 percent of companies polled intend to increase staff represents an improvement of 3.3 points higher than in January when the last poll was taken.
“Participants of the study are reporting moderate but sustainable growth,” said Gregory P. Jacobson, chief executive officer of Jacobson. “The optimism that has been apparent in previous iterations of the study has materialized into greater revenue and hiring.”
Technology, underwriting and claim roles are expected to grow the greatest during the next 12 months.
Jacobson said that optimism to grow revenue is at the highest level it is has been since the semi-annual survey began in 2009.
For the third straight survey, the primary reason to increase staff during the next 12 months continues to be an increase in business volume.
The Jacobson Group is an insurance employment and recruitment firm. Ward Group offers benchmarking and best practices research studies for insurance companies