Insurance Labor Study Highlights Continued Staffing Growth

CHICAGO--()--According to the latest iteration of the Semi-Annual U.S. Insurance Labor Study conducted by The Jacobson Group and Ward Group, a part of Aon Hewitt, a business unit of Aon plc (NYSE: AON), 66.3 percent of companies polled intend to increase staff in 2016. In addition, the Bureau of Labor Statistics reported the unemployment rate for the insurance industry at 2.1 percent, continuing the low industry unemployment trend.

“The staffing prediction was the highest anticipated rate in the 7-year history of our survey,” says Gregory P. Jacobson, co-chief executive officer of Jacobson. “It is clear that the insurance industry is focused on building staff, resulting in an increasingly competitive labor market.”

Some additional key findings include:

  • 80.4 percent of organizations expect an increase in revenue throughout the upcoming year.
  • Technology, claims and underwriting positions continue to be the most in demand industry positions.
  • If the industry follows through on its plans, we will see a 1.72 percent increase in industry employment during the next 12 months.

For more highlights, download the full results summary. For commentary, view the webcast.

The Insurance Labor Outlook Study has been conducted semi-annually since July 2009. The next iteration will occur in July 2016. For details, contact Vince Albers of Ward Group at vincent.albers@wardinc.com.

About The Jacobson Group:

The Jacobson Group is the leading global provider of insurance talent. For 45 years, we have been connecting insurance organizations with professionals from the board room to the back room on both a permanent and temporary basis. We offer a variety of solutions including executive search, professional recruiting, emerging talent, RPO, temporary staffing, subject matter experts, and onsite and work-at-home operations support. Regardless of the need or situation, Jacobson is the insurance talent solution. Further information is available at jacobsononline.com.

About Ward Group®:

Ward Group, a part of Aon Hewitt, a business unit of Aon plc (NYSE: AON), is the recognized leader of benchmarking and best practices studies for insurance companies. The firm analyzes staff levels, compensation, business practices and expenses for all areas of company operations and helps insurers measure results, optimize performance and improve profitability. For more information about Ward Group, visit www.wardinc.com.

Contacts

The Jacobson Group
Nicole M. St.Martin, Vice President and Marketing Communications Director
+1 (312) 884-0491
nstmartin@jacobsononline.com
or
Ward Group
Vince Albers, Manager
+1 (513) 746-2422
vincent.albers@wardinc.com

Contacts

The Jacobson Group
Nicole M. St.Martin, Vice President and Marketing Communications Director
+1 (312) 884-0491
nstmartin@jacobsononline.com
or
Ward Group
Vince Albers, Manager
+1 (513) 746-2422
vincent.albers@wardinc.com