Jacobson/Aon Labor Study Shows 55% of Carriers Expect to Hire, with Underwriting, Claims and Tech Roles in Highest Demand
Approximately 55% of property/casualty and life/health insurance carriers plan to increase their staff over the next 12 months—a 3-point increase over the prior two studies conducted in July 2024 and January 2024. The majority of the remaining carriers, 33%, intend to maintain current staffing levels signaling continued optimism in the sector’s hiring outlook.
The findings were laid out in the latest edition of the U.S. Insurance Labor Market Study from The Jacobson Group and Aon plc. Conducted semi-annually since 2009, the study provides benchmarks on hiring expectations, revenue projections, role-specific staffing needs, and recruiting challenges across the U.S. insurance industry.
“Employment expectations remain relatively similar to last year,” said Jeffrey Blair, senior vice president of executive search and business development at The Jacobson Group. “Despite a slight spike in the industry’s unemployment rate, turnover has slowed since last January and carriers continue to anticipate moderate growth as they move through the next 12 months.”
If carriers follow through on their stated plans, total insurance industry employment is expected to rise by 1.08% over the next year.
Massachusetts Carriers Face National Trends with Local Implications
Here in Massachusetts—the report’s national findings reflect several key operational challenges and opportunities.
Hybrid work has become the norm. Seventy-five percent of carriers now expect their employees to operate under a hybrid work arrangement, and only 3% require full-time in-office presence. This shift has long-term implications for talent acquisition and retention, especially in the Boston area where competing financial and tech employers offer similar flexibility.
“More companies expect to focus recruiting efforts on experienced staff, rather than hiring entry-level positions,” said Jeff Rieder, partner and head of Strategy and Technology Group Performance Benchmarking at Aon. “It remains critical for organizations to maintain strong career development and competitive compensation programs to retain and develop talent.”
Technology, underwriting, and claims roles continue to be the industry’s most sought-after positions. Local carriers may face additional pressure as they compete with non-insurance sectors in the region for qualified tech and analytics talent. The report also found that recruiting difficulty has increased in six of eleven job categories compared to the prior study, with actuarial, executive, and analytics positions named as the most difficult to fill.
Moderating Revenue Expectations May Shape 2025 Strategies
While hiring expectations are up, revenue growth expectations have slightly softened. Seventy-four percent of insurers anticipate revenue growth over the next 12 months, down three points from January 2024. This tempered outlook may reflect macroeconomic caution and pricing discipline across the P&C sector.
Despite the softening, the relative strength of revenue projections aligns with insurers’ continued interest in strategic hiring and organizational stability. For agents, this environment presents both challenges and opportunities: capturing growth in select markets while navigating tighter underwriting controls and possible margin compression.
Next Study Slated for July 2025
The Jacobson/Aon Insurance Labor Market Study will be conducted again in July 2025. Until then, labor market participants—particularly in roles tied to underwriting, claims adjudication, and technology—can expect elevated competition for experienced professionals, continued reliance on hybrid working models, and increased pressure on internal career development programs.
