Insurance industry hiring, revenue to rise during next 12 months

Posted on: Monday, August 27, 2012

A new report indicates there may be light at the end of the tunnel for insurance agents who have been struggling to find employment.

According to its Mid-Year Insurance Labor Market Study, the Jacobson Group and Ward Group indicate that more than half of insurance companies intend to increase their staffing numbers in the months ahead.

About 55 percent of the insurers polled indicated that they intend to hire more people over the next year, up from 52 percent when a similar survey was conducted in January. This intent to expand payrolls may have something to do with insurers' anticipation that their returns will be positive, as more than 77 percent said they were optimistic their revenue stream would increase.

"Participants of the study are reporting moderate but sustainable growth," said Gregory Jacobson, CEO of the Jacobson Group. "The optimism that has been apparent in previous iterations of the study has materialized into greater revenue and hiring."

Should hiring increase at the level that's anticipated, industry employment could rise by 1 percent over the next 12 months, the report concluded.

Posted In: Insurance News, Marketing & Advertising

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