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Q1 2026 Insurance Labor Study Results

Explore staffing projections and hiring plans for the U.S. insurance industry for the next 12 months.

Download the results from the Q1 2026 iteration of The Jacobson Group and the benchmarking division of Aon’s Strategy and Technology Group’s Semi-Annual U.S. Insurance Labor Market Study. A valuable industry tool, the study examines data collected on insurance industry hiring and revenue trends and projections.

The Changing Face of Insurance Talent

Understand, support and develop the industry’s next generation of leaders.

Download the white paper for strategies to help your organization better understand emerging generations, foster meaningful mentorship and build a future-ready workforce poised to lead the industry forward.

Competing for Technology Talent

Technology talent continues to be in high demand as insurers work to enhance customer experience, increase operational efficiency, personalize their offerings and compete in a quickly evolving environment.

Read our blog post for ways to be strategic and intentional in overcoming this talent challenge and effectively appealing to candidates within the technology space.

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Staffing Considerations for Your Risk Adjustment Strategy

The health insurance landscape continues to rapidly evolve, presenting new regulations, challenges and opportunities. One of the areas many health plans are continuing to refine is their approach to risk adjustment. While risk adjustment is commonly viewed from the perspective of compliance and cost savings, a well-defined strategy, fine-tuned structure and function-specific expertise can evolve it into a revenue generating area within your organization. As you work to most effectively meet the Centers for Medicare & Medicaid Services requirements and optimize your models, there are several staffing considerations to take into account. Here are a few key areas to explore and questions to ask as part of a comprehensive risk adjustment strategy. Have you made risk adjustment a priority?No matter where risk adjustment sits within your organizational structure, recognizing and leveraging its potential impact on numerous functional areas can help guide your decisions and better define your staffing needs. A comprehensive risk adjustment program helps ensure more accurate reimbursements and forecasting, while also impacting revenue cycle management, quality assurance, care management and more. The information derived from risk adjustment may also influence member program development and community partnerships, as well as contribute to a high Medicare Star Rating. Strategically investing in risk adjustment positively affects many departments, while maximizing revenue and leading to improved outcomes for members. Are you able to collaborate effectively across your health system?Alignment across your health system is key for ensuring consistent and accurate information. Make sure everyone understands your organization’s goals and standards for data collection and interpretation. Especially with the transition to value-based care, hierarchical condition category coding awareness and compliance can have a notable impact on the accuracy of your submissions. Consider employing coding experts who can train your HCC coding teams and educate partner clinicians and physicians. It may also be necessary to reevaluate or consolidate your core claims systems and data processing tools to ensure information can be entered and extracted in an accurate and efficient way. Experienced consultants can help guide these decisions and implementations, while skilled temporary employees are available to maintain your team’s day-to-day workloads during times of transition. How are you balancing time, accuracy and cost?There’s a fine balance involved with using readily available data and maximizing a model’s predictive accuracy, while also ensuring the method can be implemented at a reasonable cost. How can you best work toward clean and complete data to inform your models? How can you close any gaps in processes or communication to work most efficiently? Think long term by bringing in risk adjustment actuaries who can create flexible models to forecast payments for future risk adjustment, while providing details on how a model works, its process flow and how it can be updated moving forward. Do you have a scalable audit process?Most payers use a variety of third-party solutions. Are you holding these companies accountable and ensuring their work meets your organization’s internal standards? By bringing in knowledgeable professionals to provide audit consultations and insight, you’re able to identify gaps and build an automated and replicable audit process. Periodic audits can ensure claims are being interpreted accurately and maximize your reimbursements. Who is leading the charge?As risk adjustment becomes a more high-profile program across health plans, it may be necessary to enhance your leadership team’s expertise in this area. Many plans are beginning to build out this space by hiring executives who can develop, oversee and evolve long-term risk adjustment strategies and operations. These individuals can also help identify and address vulnerabilities within your program. Along with most accurately meeting CMS requirements, an investment in risk adjustment has the potential to impact a number of areas within your health system. By focusing on your risk adjustment strategy, creating a holistic structure and identifying the individuals who can help achieve your goals, you’ll be prepared to not only meet regulatory requirements and maximize profits, but also provide the best care to those most in need.

March 2021: Labor Market Pulse

The insurance industry saw unemployment hold steady at 2.2% in February. However, the industry also experienced its second consecutive month of job losses since recovery from the COVID-19 pandemic began. The majority of losses appear to be in life/health and claims roles. In our Q1 2021 Insurance Labor Outlook Study, conducted in partnership with Aon plc, 14% of life/health insurers shared they were planning to decrease staff in the next 12 months. However, it’s likely this decline is temporary, as 43% of life/health insurers reported plans to increase staff in the same time period. Claims roles also saw a notable decrease, with a 9.5% decline in employment in January* 2021. As companies enter a steadier state, we’re seeing increased activity and a focus on moving forward. Overall, 56% of insurers plan to increase staff in 2021. The greater U.S. economy is also seeing growth, with an increase of 379,000 positions in February and a slight drop in unemployment. AT-A-GLANCE NUMBERS Unemployment for the insurance carriers and related activities sector remained unchanged at 2.2% in February.  The insurance carriers and related activities sector lost 2,900 jobs in February. The U.S. unemployment rate decreased to 6.2% in February with the addition of 379,000 jobs. At roughly 2.9 million jobs, industry employment increased by approximately 47,200 jobs compared to February 2020.   INDUSTRY HIGHLIGHTS On a year-to-year basis, January* insurance industry employment saw job increases in title (up 8%), property and casualty (up 2.2%), agents/brokers (up 1.6%) and life/health (up 1.1%). Meanwhile, job decreases were seen for reinsurance (down 4.9%), TPAs (down 3.6%) and claims (down 1.1%). On a year-to-year basis, January* marked the seventh consecutive month of wage increases for reinsurance (up 21.5%), property and casualty (up 7.6%), title (up 4.7%), life/health (up 5.4%), agents/brokers (up 4.1%) and TPAs (up 0.8%). Meanwhile, wage decreases were seen for claims (down 3.4%).      BLS Reported Adjustments: Adjusted employment numbers for January show the industry saw a decrease of 8,900 jobs, compared to the previous reported decrease of 9,300 jobs. *The BLS reports on wages and employment for the industry category are only available for two months prior. The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector.

Jacobson Employee Spotlight – Q1 2021

At Jacobson, we believe every employee’s contributions matter and impact the success of our organization, clients and candidates. In celebration of Employee Appreciation Day, we’re shining the spotlight on three featured employees. To all of our amazing team members, we want to say thank you for your hard work and dedication throughout the year! Learn about more of our Jacobson colleagues by viewing past editions of our Employee Spotlight here. For monthly Employee Spotlights, follow our Facebook page. BRITTNI SMITH P&C Client Advisor, 1 year at Jacobson Hometown: Valparaiso, Indiana Alma Mater: Indiana University Describe Your Role: As a property and casualty client advisor, I build and maintain relationships with clients. I take the time to listen to their needs and provide experienced insurance professionals on a temporary basis. Jacobson in Three Words: Teamwork, Unique, Relationships Favorite Band: My favorite DJ is Kaskade. He is always on repeat on my Spotify. Ideal Lunch Break: Stuffing my face with food while catching up on Netflix Bucket List Item: I want to finally make it to Bali! WHITNEY STEPHENS Content Lead, 5 years, 7 months at Jacobson Hometown: Winter Garden, Florida Alma Mater: DePaul University Describe Your Role: I’m on the marketing team and lead Jacobson’s content strategy and development. I work with our thought leaders to share valuable insights and best practices with the industry through white papers, articles and speaking engagements. I also manage media relations and oversee our two blogs: The Jacobson Journal and The Career Catalyst. Jacobson in Three Words: Supportive, Caring, Fun Favorite Dessert: Salted caramel chocolate Ideal Lunch Break: Someone else planning and making lunch, then eating and reading outside Weekend Plans: Watching my kids’ soccer games, sitting by the pool and spending time with friends SARAH KARVEL Engagement Manager, 1 year at Jacobson Hometown: Buffalo Grove, Illinois Alma Mater: Kaplan University Describe Your Role: I contribute as both a recruiter and engagement director based on the needs of the executive search team. It keeps me on my toes and allows me to exercise familiar skills while honing new ones. Jacobson in Three Words: Proficient, Respected, Warm Favorite Movie: Shawshank Redemption Ideal Lunch Break: Grabbing a quick bite with my sister somewhere in the Chicago Loop Bucket List Item: To watch the sun set on every continent Looking to join these employees? View our corporate careers page here.

The Insurance Industry’s Hiring Outlook Remains Strong

The past year has brought on many unknowns for job seekers. Adapting to virtual interviews, starting new positions in remote office environments and building connections over video calls are only a few of the ways most professionals have had to step out of their comfort zones. However, despite the pandemic, the insurance industry remains strong. Our recent Q1 2021 Insurance Labor Market Study, conducted in partnership with Aon plc, found that overall, insurers are more optimistic than six months ago. In fact, respondents indicated staffing and revenue plans that are not drastically different from January 2020, prior to the COVID-19 pandemic. Sixty-seven percent of respondents plan to grow revenue in the next year, up 9 percentage points from July 2020. Ninety-one percent plan to maintain or increase staff in the same time period, up 8 percentage points from July and just 1 percentage point lower than one year ago. Unlike many industries, insurance has not experienced extensive layoffs in the past year. As we near the pandemic’s one-year mark, anticipated staffing reductions are down 8 percentage points from six months ago. And, of the insurers planning to reduce staff, fewer than 3% report the reduction will be by 2% or more. The most common driver for expected decreases is reorganization, while areas currently understaffed is the most common reason provided for anticipated increases. Insurance carriers have seen steady employment growth during the pandemic, adding nearly 20,000 positions since March 2020. As organizations move forward with modernization initiatives and focus on creating more relevant customer experiences, there’s a continued need to bring in tech-savvy individuals. Technology and analytics roles are in the highest demand, according to the study. With an industry unemployment rate of just 2.2%, the recruiting climate remains challenging and open roles in most insurance functions are at least moderately difficult to fill. Analytics roles are the most challenging, followed by actuarial and technology. The study also found virtual work options and flexible schedules are here to stay, even as physical offices reopen. More than a quarter of insurers plan to provide occasional work-from-home opportunities and nearly half will offer flexible hours. Fifty-six percent plan to offer full-time remote work, up from 48% in the July study. The Q1 2021 study ran from January 12 through February 5, 2021, and attracted participation from insurance carriers across all sectors of the industry. View the full report or results infographic for more insights.

Insurance Industry Adds Nearly 20K Jobs During Pandemic

Published in Carrier Management: Carrier Management takes a look at highlights from The Jacobson Group and Aon's Semi-Annual U.S. Insurance Labor Study and webinar.

Insurance Labor Study Results: Employment Outlook Remains Strong

While the past year has brought on challenges for all industries, insurance has remained relatively stable. Our recent Q1 2021 Insurance Labor Market Study, conducted in partnership with Aon plc, uncovered a hiring environment not drastically different from January 2020. The semi-annual study examines data collected on insurance industry hiring, as well as revenue trends and projections. Now in its 13th year, the Q1 2021 study ran from January 12 through February 5, 2021, and attracted participation from insurance carriers across all sectors of the industry. Highlights from the study’s findings are below. View the full report here. Ninety-one percent of respondents plan to maintain or increase their headcounts in the next 12 months: 56% percent intend to add staff and 35% plan to maintain staff size. Nine percent anticipate a decrease in staff, which is down 8 percentage points from 17% six months ago. Of those expecting to reduce staff, fewer than 3% report the reduction will be by 2% or more. The most common driver for anticipated staffing reductions is reorganization, while areas currently understaffed is the most common reason provided for anticipated increases. Given modernization initiatives, an increased focus on automation and AI, and the transition to remote and socially-distanced work environments, it’s not surprising technology and analytics roles are anticipated to be in the highest demand. The study found a notable increase in the demand for operations roles as well, which is also the function most in need of entry-level employees. Steady employment growth and the need for experienced staff will continue to propel a challenging recruiting environment. Roles in the majority of insurance functions continue to be difficult to fill and seven of the 11 functions surveyed have seen recruitment difficulty increase in the past year. Analytics roles are the most challenging to fill, followed by actuarial and technology. In regard to revenue, 67% of companies plan to grow revenue in the next 12 months, up from 58% in July. Less than 3% of insurers anticipate a decrease in revenue. Shifts in revenue are expected to be primarily driven by a change in market share. As the pandemic continues, the industry is becoming more comfortable with non-traditional work environments and schedules. Nearly all respondents (95%) indicated shifting expectations around employee schedules and hours when physical offices reopen. Fifty-six percent plan to offer full-time remote work, a slight increase from the July 2020 study. Seventy-seven percent will provide occasional work-from-home opportunities and 47% will offer flexible hours. For more results and analysis, view the full results summary and listen to the webinar recording. You may also find our recent articles on leading through change and managing in the remote environment to be of value.

Evolving Compensation Practices to Meet Changing Employee Needs

Published in Insurance Journal: From adapting interview processes to confidently making a final offer to someone they've never met, hiring managers have risen to the challenge and expanded their comfort zones. In order to attract and retain top employees in the evolving environment, organizations should also be taking a fresh look at how they approach compensation.

Open Enrollment: Lessons Learned for Success

Although next year’s open enrollment and annual enrollment periods are still several months away and 2021’s OEP has been extended, it’s not too early to plan. As you determine your staffing strategy for OEP/AEP, there are several considerations to keep in mind. We reached out to a few health plans to hear firsthand how they’ll be approaching enrollment and the tips they’ve uncovered for success. Plan ahead. Don’t wait until the summer to plan for OEP/AEP. Consider your internal team’s bandwidth and areas where you may require additional support. Think about potential workload fluctuations and contingency plans for various scenarios. Often, top talent is contracted several months before OEP begins, and acquiring appropriate licensures can slow the process even further. Having the right team in place is key. “Choosing the right people to be on your team from day one is crucial. You need to have folks who embody your company’s values and believe in your products,” shared a health plan based in the Northeast. Be strategic with your resources.Will your internal staff be stretched too thin during OEP? Are there ways interim resources could help them remain productive and avoid burnout? A regional health plan shared the following about last year’s experience when interim support was finally brought in to help, "Our internal staff said it was one of the best years they can recall: a smooth process, great staff and wonderful communication meant our team could focus on the tasks at hand. Previous years were more demanding; even executives were asked to step in and take calls on occasion, since they could not find the right local support.” Work with a knowledgeable staffing partner.Whether or not you have partnered with a staffing firm in the past, take a fresh look at the firm’s breadth and depth of experience. Firms that are well-networked within the industry and truly understand your business and the unique challenges being faced during OEP/AEP will be more likely to provide the right talent when you need it. As a field marketing organization shared about their experience, “The greatest value add was finding a significant number of skilled agents in a short amount of time to fill our needs.” Proactively seek areas of improvement.As you make your plans for next year’s enrollment periods, talk with your team about what could be done to increase efficiency. Are there any potential lapses in processes or communication? “We could improve by getting a better understanding of the implications of agents being previously contracted with other carriers and how easy it will or won’t be to obtain a release,” shared the field marketing organization. The Northeastern health plan shared the following advice, “Having one electronic source of truth that houses all of the resources your team will need through OEP will keep everyone on the same page, and allow them to be feel empowered to help themselves and their teammates.” Stay ahead of industry best practices.In addition to providing qualified talent, the right staffing firm can help you understand how other companies are handling similar experiences. For instance, if forecasting is a concern due to the pandemic, your staffing firm can help you better understand how other companies are responding and the tactics that are and are not working. Address onboarding needs early on.Successful onboarding takes time and consideration. Prior to this year’s OEP, reflect on what has been successful in past years and how you may be able to smooth any potential bumps. For instance, onboarding forms may need to go through an agency and be reviewed by legal and human resources, in addition to being signed and returned by the employee. Gain an understanding of employees’ past and current licensure to ensure they’re able to be productive right away. From a technology standpoint, and especially in today’s remote environment, equipment will need to be purchased, prepared and often shipped. Consider the specific systems employees will need to access and ensure they are up and running prior to an employee’s start date. Consider using incentives.During times of heavy workloads, it’s even more important to build a sense of camaraderie and energy among employees, no matter their employment status. Build opportunities for recognition into your team culture and encourage healthy competition. “Sharing weekly enrollment updates and ‘top sellers’ among your team sparks healthy competition through OEP, and helps sales agents hold themselves more accountable,” shared the Northeastern health plan. There are several considerations to take into account as you prepare for 2022’s OEP/AEP. By identifying your staffing needs, reaching out to the right partner, and working through licensures and other potential hurdles early on, you’ll be prepared to best service your members this fall.

Q1 2021 Labor Market Study Results Infographic

The results of the first quarter iteration of the 2021 U.S. Insurance Labor Outlook Study are now available. The study, led by The Jacobson Group and Aon, examines insurance industry labor and hiring trends. View this infographic for the highlights.

February 2021: Labor Market Pulse

The insurance industry saw unemployment decline in January, starting the new year with a 2.2% unemployment rate. This is lower than 2020’s overall average unemployment rate of 3% and even January 2020’s 2.9% unemployment rate. At the same time, the industry lost 9,300 jobs in January, marking its first decline since May 2020. However, it’s not uncommon for these numbers to be revised over time by the BLS. In total, the industry is starting 2021 with 53,300 more jobs than January 2020. Throughout 2020, the industry also saw average weekly earnings rise by 6.8%. This is compared to an annual increase of just 2.8% in 2019. While the insurance industry remains relatively strong, the overall U.S. economy increased by just 49,000 jobs in January, maintaining a deficit of nearly 9.6 million jobs compared to January 2020. AT-A-GLANCE NUMBERS Unemployment for the insurance carriers and related activities sector decreased to 2.2% in January.  The insurance carriers and related activities sector lost 9,300 jobs in January. The U.S. unemployment rate decreased to 6.3% in January with an increase of 49,000 jobs. At roughly 2.9 million jobs, industry employment increased by approximately 53,300 jobs compared to January 2020.   INDUSTRY HIGHLIGHTS On a year-to-year basis, December* insurance industry employment saw job increases in title (up 8.5%), claims (up 5.8%), property and casualty (up 2.4%), life/health (up 2.1%), and agents/brokers (up 1.8%). Meanwhile, job decreases were seen for reinsurance (down 4.3%) and TPAs (down 1.9%). On a year-to-year basis, December* marked the sixth consecutive month of industry-wide wage increases: reinsurance (up 26.8%), property and casualty (up 9.2%), title (up 6.8%), life/health (up 7.2%), agents/brokers (up 6.7%), TPAs (up 2.6%) and claims (up 1.0%).      BLS Reported Adjustments: Adjusted employment numbers for December show the industry saw an increase of 4,600 jobs, compared to the previous reported increase of 4,900 jobs. *The BLS reports on wages and employment for the industry category are only available for two months prior. The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector. For more insight on the industry’s labor outlook, join us for a complimentary webinar revealing the results of our Semi-Annual Insurance Industry Labor Market Outlook Study, conducted in partnership with Aon plc. The presentation will take place on February 11, 2021, at 1:00 p.m. CST. Register here.

Q1 2021 U.S. Insurance Labor Market Study Results

The Jacobson Group and Aon-Ward conducted a study to investigate hiring trends within the insurance industry. The following presents the findings of an insurance labor survey conducted in the first quarter of 2021...

Creating An Effective Personal Brand for the Virtual World

In today’s primarily remote work environment, professionals have had to adjust how they approach daily interactions. Face-to-face meetings, impromptu hallway conversations, and in-person lunches are relatively nonexistent. Additional effort is required to meet colleagues, build relationships and make an impact in virtual meetings. Even as physical office locations begin to reopen, remote work and virtual interactions will likely continue indefinitely. In these hybrid work environments, it’s important individuals build and maintain consistent personal brands that reflect who they are both in person and on screen. It can be a challenge translating even well-developed personal brands to the virtual world. Here are a few ways to make sure your brand is a clear and consistent reflection of who you are and the story you want to tell, even in the remote environment. Stay relevant. If it’s been a while since you’ve taken a fresh look at your professional values and goals, dedicate time to reevaluating your brand. Have your priorities or career goals shifted in the past year? As personal and professional lives continue to blur, are you comfortable sharing more information about your family or personal hobbies in order to build stronger connections? What are your current strengths and what areas need work? Refresh your elevator pitch. If you’ve already honed your personal brand, consider any tweaks that will help it best translate to the online space. If you’re asked to introduce yourself on a video call, is your elevator speech prepared? How does it differ if you are talking to a broad group versus in a smaller, more focused meeting? There will be many situations when you have to deliver your brand story to a virtual audience and preparation is key. Keep your content shorter than what you would typically share in person. Strive for something memorable, but also remember sarcasm, tone and facial expressions may not always come across how you intend. Update your social media profiles. Does what people see online match up with the brand you want to convey? If you haven’t updated your LinkedIn profile recently, take some time to review and make sure it is consistent with the story you’re telling around your brand. Ensure your professional accomplishments are up-to-date and you’re sharing any articles you’ve recently written or have found valuable. Schedule time to regularly interact with posts from others in your network at least once a week to remain active and relevant. Seek out networking opportunities. In the virtual world, initial introductions may not happen as organically as they do in real life. When attending a conference or networking event in person, it is easier to control who you speak with and which conversations you join. You may even catch someone in between sessions to introduce yourself or discuss a specific topic. The virtual environment is different and break out rooms, online networking events, private LinkedIn Groups and other tools are being used to help recreate these more intimate interactions. Proactively talk to colleagues and individuals already in your network to find opportunities that fit your needs and will help you move toward your goals. Dress the part. If you are typically dressed in business casual attire for work and meetings, consider dressing similarly for video calls. At the same time, your background in video calls should reflect your professional self, similar to your physical office or cubicle space. Avoid clutter and aim for a space that reinforces who you are and further builds your brand. Focus on your body language and remember individuals can see you and your reactions, even if you are not speaking. Follow up. Following up is key to making networking and relationship-building efforts worthwhile, whether in person or online. If you’re attending a virtual conference or networking session, organizers may create Excel sheets where individuals can add and share their contact information with one another. Or, attendees may be placed into smaller breakout rooms, where they can focus on meeting a select group of people. Don’t hesitate to ask about connecting on LinkedIn, or even if individuals would be open to virtual lunches or coffee to continue conversations more in depth. One-on-one meetings are often where longer-term relationships can be built and strengthened. As individuals return to work and restrictions ease, it may even be possible to meet new online connections face-to-face. As you continue to grow as a professional in the virtual environment, creating and maintaining a consistent personal brand that transcends both face-to-face and virtual environments is paramount. For more on effectively presenting yourself in the virtual environment, view “Lights, Camera, Action! Putting Your Best Virtual Foot Forward.”