Snapshots

Insurance talent landscape is shifting in response to advances in automation and AI

April 18, 2023

Contributors:

The insurance industry in the United States currently employs just over 3 million people, an increase of 3.2% since 2019. But continued advancements in technology, namely automation and artificial intelligence, are driving a shift in the occupational landscape within the industry.

As insurance companies further implement automation of services such as underwriting, filing claims, customer service, and fraud detection, associated occupations are declining. Despite accounting for a combined 26% of the industry workforce, office clerks, claims and policy processing clerks, customer service representatives, and claim adjusters, examiners, and investigators have all seen a decline in total employment since 2019.

However, automation is driving stronger demand for more technologically skilled professionals within the industry. The number of software developers has spiked over the past 3 years, as have jobs within management fields in the industry.

As insurance companies refine their long-term workforce strategies, they will also have to reassess their portfolios to meet the needs of their talent. In 2022, insurance was the third-largest sublessor industry in the U.S., behind tech and finance with nearly 6.5 m.s.f. put on the market.

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