Competing For Claims Talent

The insurance industry is currently in the most competitive labor market most professionals have ever experienced. Seasoned employees are retiring, ‘the Great Reshuffle’ persists, and new roles and opportunities are emerging to meet shifting needs and requirements.

Results from the ‘Q1 2022 U.S. Insurance Labor Market Study,’ conducted by The Jacobson Group and Aon plc, further depict a recruiting climate that has reached record difficulty, with no signs of letting up in 2022.

This semi-annual study has collected revenue and hiring projections from carriers across all sectors of the industry since 2009.

The most recent survey took place in January 2022 and found 72% of insurers are planning to hire this year -- a record high. Within the property and casualty space, this percentage is even greater, hitting 79%. This is a notable increase of 28 percentage points from July 2021’s survey, and a 21-point increase from pre-pandemic January 2020.

The primary reasons respondents plan to add employees are to support anticipated increases in business volume and accommodate areas that are currently understaffed.