The insurance industry’s 12-month hiring outlook is bright. Unemployment remains low at 1.4% and job openings are abundant, according to Bureau of Labor Statistics’ data. As we move through 2023, the insurance talent landscape is strong and stable. Our recent Q3 2023 Insurance Labor Market Study, conducted in partnership with Aon-Ward, found the majority of insurers plan to add staff and increase revenue in the next year.

Despite ongoing uncertainty throughout the U.S. economy, insurance remains in a candidate’s market as 2023 unfolds. The industry hit record-high employment in January, job openings continue to be elevated after reaching a peak in 2022 and insurance unemployment is just 1.4%. According to our recent Q1 2023 Insurance Labor Market Study, conducted in partnership with Aon plc, 90% of insurers plan to increase or maintain their staff sizes this year. Most companies also have a positive outlook regarding revenue expectations, making hiring necessary for successfully meeting their growth goals. 

The industry is in the midst of one of the tightest labor markets many have ever experienced. Job openings have peaked in the past few months, voluntary quits are high, and we’re continuing to see an industrywide realignment as both professionals and employers assess their long-term needs and desired working environments.

Job openings reached an all-time high in January, retirements are accelerating, and new roles are continuing to emerge within the industry. "A candidate’s market” has never more accurately described the insurance industry’s recruiting climate. According to our recent Q1 2022 Insurance Labor Market Study, conducted in partnership with Aon plc, 72% of insurers are planning to increase staff this year — a record high percentage and a 16-point increase from July 2021's study. If you’re looking to make a career move within the industry, now is an opportune time to start exploring your options, refresh your resume and ensure you’re prepared if your dream job presents itself.

For the past 18 months, job seekers have experienced a shifting labor market and many uncertainties. Now, as professionals feel a greater sense of stability, many are reevaluating their current roles and priorities, and seeking out employers who can best meet their needs. Although insurance industry unemployment rose to 4.2% in July, we’re seeing an increasingly active recruiting climate.

At Jacobson, we believe every employee’s contributions matter and impact the success of our organization, clients and candidates. In celebration of Employee Appreciation Day, we’re shining the spotlight on three featured employees. To all of our amazing team members, we want to say thank you for your hard work and dedication throughout the year!

Learn about more of our Jacobson colleagues by viewing past editions of our Employee Spotlight here. For monthly Employee Spotlights, follow our Facebook page.

The past year has brought on many unknowns for job seekers. Adapting to virtual interviews, starting new positions in remote office environments and building connections over video calls are only a few of the ways most professionals have had to step out of their comfort zones. However, despite the pandemic, the insurance industry remains strong.

We're reaching the end of a year like no other, and it seems like one of the only things that stayed consistent throughout the year is the value of virtual interactions. As you continue to perfect the art of virtual relationships, check out our recent blog post on how to most effectively participate in videos calls, from looking the part to following the unwritten rules of Zoom.

The staff members represented in this quarter's employee spotlight roundup look forward to making more virtual connections in 2021. Learn more about these employees below, and view previous editions of our employee spotlight here. (Did you know you can see employee spotlights on a monthly basis on our Facebook page?)

We recently wrapped up the Q3 2020 Semi-Annual U.S. Insurance Labor Outlook Study in partnership with Aon plc. Despite the tumultuous overall economic climate, 83 percent of the study's respondents intend to maintain or increase their staff sizes in the next 12 months. Additionally, insurers are seeing persistent recruiting difficulty.

The corporate employees represented in this quarter's employee spotlight roundup are integral in helping our clients meet their insurance talent needs, whether through our executive search practice, professional recruiting service arm or subject matter experts solution.

We recently completed the Q1 2020 iteration of our Semi-Annual U.S. Insurance Labor Outlook Study, and the results are now available! The study, conducted by The Jacobson Group and Aon plc, collects revenue and hiring projections from carriers across the insurance industry. We’re highlighting some of the latest findings below. Download the full results summary, recorded webinar and slide deck for additional insights and commentary.