More than 66 percent of insurance companies intend to increase staff during the next 12 months, according to a new midyear labor study.
That rate is the highest in the history of the study, The U.S. Insurance Labor Outlook Study, conducted by The Jacobson Group and Ward Group. The study has been conducted since 2009.
However, it’s not much higher. Last September, Jacobson and Ward reported that 65 percent of property/casualty insurance companies polled had plans to continue adding personnel, even while expecting a slowdown in business.
“The continued focus on increasing staff paired with mass retirements and virtually non-existent industry unemployment will only further interfuse an already challenging recruiting environment,” said Gregory P. Jacobson, co-chief executive officer of Jacobson,an insurance recruitment firm, in a statement with results form the most recent survey.
Some additional findings include:
- Four percent of companies expect a decrease in staffing during the next 12 months.
- Technology, claims and underwriter roles are expected to grow more than any other industry position during the next 12 months.
- Executive, technology and actuarial positions are the most difficult to fill.
The survey collects revenue and hiring projections from organizations across all sectors of the industry, the survey provides a valuable look at the labor market outlook and hiring trends.