Hiring Optimism: Insurers Adding Staff in the Next 12 Months

A survey by The Jacobson Group and Ward finds most insurers are fairly positive about the shape of business in the next 12 months. Most — 67% — say they will increase staff.

Property-casualty line insurers are — at 69% — the most likely to hire.

When it comes to business and people, commercial insurers the most optimistic on revenue generation. A high percentage — 81% — are expecting growth. That compares to 78% of the balanced lines companies and 67% of personal lines insurers.

Life and health insurers had the highest positive numbers and 93% said they expect increases in revenue. About half of the companies said changes in market share are driving that optimism.

Jacobson and Ward said the survey shows that staff increases in the next year are because of increases in business volume and 37% said that’s why they’re going to hire.

The hiring needs vary. Smaller insurance companies need help in claims and technology. Life and health insurers want help in technology, sales, marketing and actuarial.

When it comes to hiring, 92% of the insurers responding said they’re offering a hybrid work schedule. A high percentage of companies — 69% — said they will allow new employees to be full-time remote. Another 52% said they’d offer a flexible schedule to new employees.

That said, 72% said they expect new employees to spend at least one day a week in the office.

  • Personal lines are most likely to offer remote work — 40%
  • Commercial lines offering remote work — 30%
  • Balanced lines offering remote work — 19%

Only smaller insurance companies are demanding that employees be in the office most of the time. The percentage there is 9%. Oddly, smaller companies are also the most likely to offer full-time remote work.

Some 30% said they’d do that.

Source link: Insurance News Net https://bit.ly/3LtDpK1

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