Hays Insurance - July 2010
Hotspots
There are currently a lot of roles related to special projects on the life side.
In high demand are Product Development Project Managers whose role will be to create a leaner approach by utilising in house resources and streamline product development from start to finish.
Many insurers will continue to be competitive for both inorganic and organic growth. Business Developers with M&A and financial modelling experience are in demand as a result.
Candidates with MCEV knowledge and solvency II experience are highly sort after in the European life markets due to changes in regulatory reporting requirements for Europe.
In order to fill these skill short areas employers may need to consider candidates from other sectors such as banking. These candidates will have similar experience, often with transferable skills. Insurance is however a niche area so this would require comprehensive on the job training so employers have been reluctant to proceed with this option.
Coming quarter
Due to the buoyancy of the life market there is likely to be continued demand for new headcounts and replacement positions. These will be both contractor and permanent positions.
Employer trends
With the lack of available talent it is taking longer for employers to find the right people. This is lengthening recruitment time frames. The bigger insurers are taking their time to see what else is out there before making any decisions.
Candidate trends
Candidates are now seeking higher salaries as the market recovers. Employers however do not have any immediate plans to increase remuneration which is deterring good candidates from switching jobs at this point in time.
