Daily News

View All News

Study finds 11% of insurance firms to increase temp use over next 12 months

February 22, 2017

Insurance companies remain focused on increasing staff and more companies will require temporary staff, according to the semi-annual US Insurance Labor Outlook Study, conducted by The Jacobson Group and Ward Group.

The study’s survey found 11% of insurance companies plan to increase their use of temporary staffing during the next 12 months, up from 7% who said the same in a similar survey six months ago; it is the highest anticipated increase in temporary staff usage since the January 2014 survey. The survey also found 8% plan to decrease use of temporary employees during the next 12 months and 81% plan to maintain temp employment levels.

The survey also found 65% of insurance companies plan to increase their total staff numbers during the next 12 months, driven by 67% in the commercial lines and personal lines categories. Six percent of companies expect a decrease in staffing during the next 12 months, five points higher than a year ago, while 29% expect no change.

The primary reason to increase staff during the next 12 months is the expectation of an increase in business volume, cited by 58% of survey respondents. Expansion of business/new markets and areas currently understaffed followed at 54% and 37% respectively.

Companies responded that positions are still moderately difficult to fill and recruiting is slightly more difficult in most disciplines than it was a year ago. Actuarial, analytics and technology positions are the most difficult to fill.

“Expected increases in business volume and expansion into new markets are driving continued hiring,” said Gregory Jacobson, co-CEO of Jacobson.