Insurance Underwriters: Is the demand for these roles increasing?

This quarter we have seen a shift in focus in the finance sector towards more commercially focused roles, which can lead to talent shortages.

So how much of an impact will this have on the Underwriting space?

Sharing our snippet from our latest Finance & Accountancy Insight Report, here our Underwriting Recruitment Consultant Alanna Smith shares her view on the current state of the underwriting market:

The need for insurance underwriters has increased this year, particularly in commercial business lines like financial lines, property and casualty, and renewable power. The market has become more competitive for professionals with these specialities due to industry expansion to serve multinational and UK clients. Additionally, the growing focus on sustainability has increased the demand for underwriters as business practices change risk profiles.

Underwriting has evolved with the introduction of artificial intelligence, streamlining many processes. However, underwriting still requires high expertise, as many companies continue to rely on manual underwriting and human judgment for accurate risk assessments. As the industry progresses, the combination of technological innovation and expert human insight remains crucial for companies looking to create and maintain a competitive advantage.

To find out more and to read our Underwriter Specialism Spotlight with an overview of talent pool location, salary ranges and gender splits, download your copy of our latest Finance & Accountancy Insights Report here: https://www.sandersonplc.com/download/q2-2024-finance-accountancy-insights/

If reading this has sparked a need for insights into your market, contact our expert Talent Insights Team today. We use a variety of first-hand research techniques, tools and proprietary data to help you understand more about the trends and opportunities within your market.