“Expected increases in business volume and expansion into new markets are driving continued hiring,” in the insurance industry, said co-chief executive officer of Jacobson Group Gregory Jacobson in a recent report.
To cope with continued growth, insurance companies are increasing staff and more companies expect to fill the workforce gap with temporary labor, the semi-annual US Insurance Outlook Study found.
The study is regularly undertaken by the Jacobson Group and the Ward Group.
According to trade publication Staffing Industry Analysts, the study revealed that 11% of those surveyed plan to increase their use of temporary staffing in the next 12 months, up from 7% six months ago.
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Furthermore, 65% of insurance companies have plans to increase their staff total in the coming year with commercial lines and personal lines accounting for 67% of the demand.
The growth in demand for labor in the insurance sector is due to business expansion activities, especially in new markets; an expected increase in business volume; and persistent understaffing.
The companies surveyed also noted that actuarial, analytics and technology remain the most difficult positions to fill in the industry.
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