Most insurance workers plan to stay in sector

Additionally, 78 per cent plan to work in insurance for their next job, and 61 per cent of young insurance professionals planned to remain in insurance for the next two decades.

The research, conducted on behalf of Breeze by online survey platform Pollfish, surveyed college-graduated and actively employed professionals from the ages of 22 to 30, between 14 and 16 September 2022. Those surveyed were divided into two groups: those currently working in insurance and those who were not.

A total of 55 per cent said that working in insurance was what they wanted to do – the remaining 45 per cent took an insurance job for other reasons, such as a higher salary.

Among non-insurance professionals, 65 per cent are open to working in the sector, while 57 per cent would rather be at a traditional insurance company instead of a newer insurtech.

Additionally, 75 per cent of non-insurance professionals would consider a job offer from an insurance company if it came with a 10 per cent pay increase compared with their current job, while the remaining quarter said they wouldn’t.

Both groups were asked the same set of four questions. On a scale from one (least) to 10 (most), they rated their current job for satisfaction, stability, opportunity and sexiness.

The data suggests that insurance employers can remain hopeful about their ability to hire and retain staff, despite ongoing worries about labour shortages and talent gaps around the world.

The latest Bupa Wellbeing Index found that health insurance is the most sought-after employee benefit for young professionals.