The insurance industry is poised for steady growth in 2025 as technological advancements create new opportunities, insurers look at how they can adopt improved approaches to risk modelling, and demand for skilled talent increases. According to a study by Jacobson Group and Aon’s Strategy and Technology Group, it's projected there will be a “0.58% growth in insurance jobs overall in the next 12 months” with “life & health…anticipated to experience a 1.49% increase in employment opportunities, while property & casualty is expected to see a 0.26% increase” (Risk & Insurance: Insurance industry forecasts strong growth).
Talent attraction, retention and development will be key as employers compete with each other to attract the best talent in the market. From our 2025 Insurance Salary Guide and Market Sentiment report 76% of employers say they plan to hire in the next 12 months, however 52% say their biggest challenge will be a shortage of suitable applicants. Research shows this is partly to do with the ageing population across the market and a lack of strategies to attract younger talent into the profession.
Additional insights from our 2025 Insurance Salary Guide and Market Sentiment report include a range of interesting factors employers and professionals should pay attention to.
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Our data shows that:
66% of employers don’t have an employer value proposition
Our data shows that over 66% of insurance employers do not have an employee value proposition, yet a good employer brand and reputation in the market was cited as one of the most important things employees look out for when selecting a new job.
To attract top talent and encourage a younger generation into the profession it’s not enough for insurers to offer good compensation packages and standard benefits, they need to address their brand image. In the Insurance Times’ 2024 Talent Development Report 80% of respondents said industry reputation and attractiveness were the main barriers to attracting talent and “being overworked, underpaid and other industries being more attractive, were stated as the top reasons…brokers were leaving their jobs” (Insurance Times: Talent Development Report 2024).
60% of employees plan to change jobs in the next year
60% of respondents to our survey said they planned to change jobs in the next 12 months, with 37% citing job dissatisfaction. Reasons expressed include; heavy workload, minimal pay rises, gender imbalances and an absence of career development, with comments illustrating a considerable amount of disengagement and frustration. People said, “The team is understaffed, putting too much pressure on existing team members”, “My employer does not and has not provided any pay rises, in over five years”, “Insurance is still a gentlemen’s club in so many ways”.
30% of employees said their salary has either decreased or stayed the same for the past 12 months
When we asked hundreds of employees across the insurance profession what they look for when searching for a new job, the majority said pay was most important, followed by non-financial benefits and career progression. In fact, comments from employees highlight dissatisfaction with salary and workload. One respondent said, “the salary package is low compared to competitors” and another commented, “our team is well understaffed, putting too much pressure on existing team members”. 50% of those surveyed in the Insurance Times’ 2024 Talent Development Report said that brokers are leaving jobs because they are underpaid (Insurance Times: Talent Development Report 2024).
For more insights on the insurance market, plus accurate salary data and hiring predictions for the next year access our 2025 Insurance Salary Guide and Market Sentiment report.
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