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12% of insurance firms to increase temp use over next 12 months, study finds

August 28, 2017

Insurance companies will require more temporary staff in the second half of the year, according to the Mid-Year US Insurance Labor Outlook Study, conducted by The Jacobson Group and Ward Group.

The study’s survey found 12% of insurance companies plan to increase their use of temporary staffing during the next 12 months, up from 11% who said the same in a similar survey six months ago and 7% in the year-ago survey. The survey also found 10% plan to decrease use of temporary employees during the next 12 months and 78% plan to maintain temp employment levels.

The survey also found 62% of insurance companies plan to increase their total staff numbers during the next 12 months, driven by 73% in personal lines and 69% in life/health segments. Ten percent of companies expect a decrease in staffing during the next 12 months, six points higher than a year ago, while 28% expect no change.

Technology, analytics and claims roles are expected to grow the greatest during the next 12 months. Analytics, executive and actuarial positions are considered the most difficult to fill.

“We stand amid an increasingly volatile labor market,” said Gregory Jacobson, co-CEO of Jacobson. “Growing staffing demands, low unemployment and a tightening labor pool have created the most challenging talent recruitment market in recent history.”