A recent study has shown that 65 percent of companies plan to boost their staff size this year.
The Jacobson Group and Ward Group have now issued the most recent version of their Semi-Annual U.S. Insurance Labor Outlook Study and have determined that this year, insurance jobs are still out there and waiting to be filled as 65 percent of the companies in the industry plan to boost their staff in 2015.
Since the start of the survey, this is the second highest insurance hiring rate that has been recorded.
Furthermore, the Bureau of Labor Statistics has released its own figures, in which it showed that when it comes to insurance jobs, the unemployment rate is currently only 1.6 percent, which maintains the trend for low unemployment rates throughout the industry in the United States. According to the Jacobson Group co-chief executive, Gregory P. Jacobson, “The survey results show revenue growth predictions dropping to their lowest rate in three years.” Still, while some would think that would reduce employment, that is not the case.
These insurance jobs have remained available and are continuing their growth in numbers.
Jacobson explained that even though there has been a steady revenue growth drop, the predictions for staffing are currently at the second highest rate that they have seen since the economic downturn. “The industry is clearly focused on filling positions and growing staff. The result is an increasingly competitive labor market.”
The research pointed out that insurance companies are finding that it is increasingly challenging to be able to find the people they need to fill the majority of the positions that they have opened up. Regardless of the fact that product line is a top determining factor with regards to how easy a position will be to fill, insurers who participated in the research still stated that the majority of positions were at least moderately difficult for them to adequately fill.
Other key insurance jobs findings from this study included that almost 79 percent of insurers anticipate a revenue increase throughout the next year, which represents the lowest level since the survey conducted in July 2012. It also found that claims, tech, and underwriting positions are the most in-demand positions and should increase over the upcoming year.