Insurance industry sees biggest increase in hiring: Naukri Job Speaks
According to the Naukri Job Speaks report, the insurance industry is getting ahead and growing on the recruitment aspect
Naukri.com’s Naukri Job Speaks Monthly Hiring Index Shows Insurance Sector Hiring Percentage Increase of 87% While Overall Growth Represents 6% in August 2022 YTD last. After the insurance sector, +56% Travel/Hospitality, +43%BFSI, +29% Auto/Auto Auxiliary are the industries that hired the most people according to the data over the one-year period. The computer software and pharmaceutical sectors occupy the last position with less hiring trends.
Naukri Job Speaks is a monthly index that records hiring activity across all industries nationwide. The main objective of this index is to highlight the industry that is hiring on a larger scale, so that employees and desirable candidates can get to know their positions related to skills and interests.
“It is important to note that insurance as an industry has been thriving since the start of this year as there has been continued growth in hiring which is creating opportunities across all experience brackets with a more than 100% year-on-year growth in the 0-7 year experience bracket.” said Pawan Goyal, Chief Commercial Officer of Naukri.Com.
GlobalData, a leading data and analytics firm, forecasts the life insurance industry in India to grow at a compound annual growth rate (CAGR) of 10.3% from $7 trillion rupees ($92.3 billion) in 2021 to 11.4 trillion rupees ($150.6 billion). ) in 2026, which also supports the data published by the Naukri Job Speaks. Indian insurance sectors comprising a total of 57 companies, of which 33 are non-life insurance companies and 24 are life insurance companies. 7 of these enterprises belong to the State.
As the insurance industry grows, the role of IRDAI (Insurance Regulatory and Development Authority of India) will take on a different aspect and become more important at all levels.
Apart from showing the hiring trends in the industries, Naukri Job Speaks also released the data on the number of hirings that took place in different cities, in which Mumbai tops the list of metropolitan cities with +21 % while Coimbatore ranks first among emerging cities. ‘ list with +28%.
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