The global insurance industry experienced a 49% drop in new job postings related to electric vehicles in Q4 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to an 88% decrease versus Q4 2022. GlobalData’s Insurance: Hiring Trends & Signals Q4 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the insurance industry, facilitating anticipation of future workforce needs. Buy the report here.
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Notably, Management Occupations jobs accounted for a 30% share of the global insurance industry’s electric vehicles-related total new job postings in Q4 2023, down 32% over the prior quarter.
Management Occupations drive electric vehicles-related hiring activity
Management Occupations, with a share of 30%, emerged as the top electric vehicles-related job roles within the insurance industry in Q4 2023, with new job postings drop by 32% quarter-on-quarter. Computer and Mathematical Occupations came in second with a share of 14% in Q4 2023, with new job postings dropping by 47% over the previous quarter.
The other prominent electric vehicles roles include Office and Administrative Support Occupations with a 12% share in Q4 2023, Business and Financial Operations Occupations with a 12% share of new job postings.
Top five companies in insurance industry accounted for 96% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q4 2023 were Aviva, BGL Group, Direct Line Insurance Group, Unum Group, and Phoenix Group. Together they accounted for a combined share of 96% of all electric vehicles-related new jobs in the insurance industry.
Aviva posted 65 electric vehicles-related new jobs in Q4 2023, BGL Group 25 jobs, Direct Line Insurance Group 21 jobs, Unum Group 14 jobs, and Phoenix Group 8 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the UK with a 92.75% share of total new job postings, Q4 2023
The largest share of electric vehicles-related new job postings in the insurance industry in Q4 2023 was in the UK with 92.75% followed by the US (5.07%) and Jamaica (0.72%). The share represented by the UK was 0 percentage points higher than the 92.59% share it accounted for in Q3 2023.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q4 2023, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
