Insurance Sector Notices Highest Surge In Hirings Activities: Naukri Job Speaks
The monthly hiring index Naukri Job Speaks by Naukri.com shows the increase in the hiring percent in the insurance sector by 87 % while overall growth accounts for 6% in August 2022 over the last year. After the Insurance sector, +56 %Travel/Hospitality, +43%BFSI, +29% Auto/Auto Ancillary are the industries that have hired a higher number of people as per the data in the time period of one year. IT-Software and Pharma industries are standing on the last position with the hiring trends in minus digit.
Naukri Job Speaks is a monthly index that records the hiring activities across the industries in the country. The major objective of this index is to highlight the industry that is hiring on a larger scale, So, that the employees and desirable candidates can get the cognizance of their skill-interest related posts.
“Important to note that insurance as a sector has been flourishing since the start of this year as there has been continuous growth in hiring which is creating opportunities across experience bands with over 100 per cent YOY growth in 0-7 years’ experience band.” said Pawan Goyal, Chief Business Officer, Naukri.Com.
The GlobalData, a leading data and analytics company’s forecasts that the life insurance industry in India is set to grow at a compound annual growth rate (CAGR) of 10.3% from Rs 7.0 trillion ($92.3 billion) in 2021 to Rs 11.4 trillion ($150.6 billion) in 2026, that also giving the grounds to the data released by the Naukri Job Speaks. Indian Insurance sectors comprising a total of 57 companies, among which 33 are non-life insurance and 24 are life-insurance providers. 7 out of these companies are having public ownership.
When the Insurance sector is growing all the way, the role of IRDAI (Insurance Regulatory and Development Authority of India) is going to take a different side and become more prominent at all levels.
Apart from showing hiring trends across the industries, Naukri Job Speaks also put out the data of the number of hiring that took place in different cities, in which Mumbai topped the metro cities list with +21% while Coimbatore placed on first place among emerging cities’ list with +28%.
