Senior and principal life underwriters are in high demand due to a major shortage of staff within the domestic market, says recruiter Hays.
Hays’ Quarterly Report for January to March showed that senior life underwriters are in high demand due to insufficient new underwriters joining the industry and undergoing training to fill those roles.
“Given the domestic shortage of staff, hiring managers are open to the internal transfer of life underwriters from overseas,” the report said.
“The skill shortage has also led to salaries increasing at the senior to principal level in underwriting.”
Other occupations in high demand are senior life insurance claims consultants and senior life claims assessors, Hays said.
The report noted many life insurers are restructuring teams in order to decrease portfolio sizes for claims staff.
It said some insurers are even taking seniors off portfolios, and are creating growth in teams and new vacancy activity.