Jacobson/Aon Labor Research Reveals 55% of Carriers Anticipate to Rent, with Underwriting, Claims and Tech Roles in Highest Demand
Roughly 55% of property/casualty and life/medical health insurance carriers plan to extend their workers over the subsequent 12 months—a 3-point enhance over the prior two research performed in July 2024 and January 2024. The vast majority of the remaining carriers, 33%, intend to take care of present staffing ranges signaling continued optimism within the sector’s hiring outlook.
The findings have been specified by the most recent version of the U.S. Insurance coverage Labor Market Research from The Jacobson Group and Aon plc. Performed semi-annually since 2009, the research offers benchmarks on hiring expectations, income projections, role-specific staffing wants, and recruiting challenges throughout the U.S. insurance coverage trade.
“Employment expectations stay comparatively just like final yr,” mentioned Jeffrey Blair, senior vice chairman of government search and enterprise improvement at The Jacobson Group. “Regardless of a slight spike within the trade’s unemployment fee, turnover has slowed since final January and carriers proceed to anticipate reasonable development as they transfer via the subsequent 12 months.”
If carriers comply with via on their said plans, whole insurance coverage trade employment is anticipated to rise by 1.08% over the subsequent yr.
Massachusetts Carriers Face Nationwide Traits with Native Implications
Right here in Massachusetts—the report’s nationwide findings replicate a number of key operational challenges and alternatives.
Hybrid work has change into the norm. Seventy-five p.c of carriers now count on their staff to function below a hybrid work association, and solely 3% require full-time in-office presence. This shift has long-term implications for expertise acquisition and retention, particularly within the Boston space the place competing monetary and tech employers provide related flexibility.
“Extra firms count on to focus recruiting efforts on skilled workers, relatively than hiring entry-level positions,” mentioned Jeff Rieder, associate and head of Technique and Know-how Group Efficiency Benchmarking at Aon. “It stays essential for organizations to take care of robust profession improvement and aggressive compensation packages to retain and develop expertise.”
Know-how, underwriting, and claims roles proceed to be the trade’s most sought-after positions. Native carriers might face further stress as they compete with non-insurance sectors within the area for certified tech and analytics expertise. The report additionally discovered that recruiting issue has elevated in six of 11 job classes in comparison with the prior research, with actuarial, government, and analytics positions named as essentially the most tough to fill.
Moderating Income Expectations Could Form 2025 Methods
Whereas hiring expectations are up, income development expectations have barely softened. Seventy-four p.c of insurers anticipate income development over the subsequent 12 months, down three factors from January 2024. This tempered outlook might replicate macroeconomic warning and pricing self-discipline throughout the P&C sector.
Regardless of the softening, the relative power of income projections aligns with insurers’ continued curiosity in strategic hiring and organizational stability. For brokers, this setting presents each challenges and alternatives: capturing development in choose markets whereas navigating tighter underwriting controls and attainable margin compression.
Subsequent Research Slated for July 2025
The Jacobson/Aon Insurance coverage Labor Market Research will likely be performed once more in July 2025. Till then, labor market individuals—significantly in roles tied to underwriting, claims adjudication, and know-how—can count on elevated competitors for knowledgeable professionals, continued reliance on hybrid working fashions, and elevated stress on inside profession improvement packages.
