In Focus: Talent attraction versus job opportunities – Where is the biggest people pinch point?

WE ASKED: “According to a January 2026 report published by Vacancysoft, entitledYear in Review – UK Insurance Labour Market Trends Report, the insurance industry is hiring 5.7% fewer people year-on-year, with only 4% of younger individuals saying they would consider a career in insurance. Is the sector’s biggest talent challenge attracting young people, or creating enough roles for them?” 

Ela Metalia, underwriting and claims executive, International Underwriting Association (IUA)

Supporting talent attraction and retention continues to be a key priority for the International Underwriting Association (IUA). We provide regular training and networking opportunities for new practitioners, ultimately supporting the market’s succession planning.

As an industry, we have thought carefully about how we sell insurance as a career and, while there is still more to be done, we believe students are more aware of our sector than ever before.

The IUA and the London Market Association’s (LMA) online work simulations with Forage, two-day taster programme via London Insurance Life’s Spring into Insurance scheme and the London Market Group’s Lime Street Festival are all helping demystify the sector and give students a practical sense of what careers in insurance involve.

But awareness only has value if it leads to progress. London market hiring data at the time of writing showed that of the 65,000 employed by the industry in the last year, only 1,200 were young people – and approximately half of those hires were by the five major broking firms.

If entry level roles remain concentrated among a few companies, with fewer opportunities across the wider market, then it will be harder to meet the demand for roles in insurance for school and university leavers.

If the insurance industry does not invest consistently in junior roles and structured training, all firms will feel the gap later on when experienced practitioners move firms, take career breaks, or retire.

Emma Higgins, chief people officer, QBE International

The insurance industry needs to create opportunities for young people, but it also needs to help them understand the breadth of careers available in insurance.

At QBE, we are focused on building that connection early through programmes such as QBE Horizons. This school partnership programme gives students exposure to the workplace, helping them develop employability skills, explore different career paths and gain firsthand insight into the role insurance plays in society and the economy.

Over the course of this summer, our partnership is delivering a four-week work experience programme, designed to unlock real careers in insurance for 20 young people across London and Leeds, who may not otherwise have had access to careers in insurance.

The programme is designed to challenge perceptions of the industry and show young people that insurance offers rewarding careers across a wide range of disciplines.

Through our partnership with education charity Action Tutoring, which launched in 2023, QBE colleagues volunteer their time to support pupils in improving their educational outcomes and building confidence, while also contributing to early awareness of careers in insurance.

We should be ensuring more young people can see a future for themselves in insurance and that the pathways into the industry are visible, accessible and inclusive.

Andy Parsons, HR director for UK and Ireland retail division, Gallagher 

It is fair to say our sector is overlooked by many of those starting out in their careers.

There is the perception that insurance is boring and with many of the younger generation looking for work with a social impact, insurance is seen as unable to fulfil this desire.

The irony is that neither of these statements are true, with the reality being that insurance is a great industry.

This is proved by the fact that many people who enter insurance, often thinking it will be a stopgap, typically end up building a lifetime career.

Average tenures are much longer in insurance than many other industries and for the many school leavers that join Gallagher on one of our development programmes, they almost always stay and develop their career with us in their chosen path.

Why? Compared to other industries, insurance is stable, firms continue to make good returns and this means they invest in their employees by paying decent salaries and offering training and career development.

You can specialise in many different types of career genres in insurance, as well as different industry sectors. Not many other industries can offer that.  

With the current tougher job market for young candidates, this dynamic presents an opportunity. Although year-on-year there are marginally less vacancies, when you compare us to other industries, insurance is in a far better position – construction, real estate and the arts, by comparison, are all tracking at more than 25% less hiring opportunities.

Our experience at Gallagher is that attracting younger candidates is not a problem – we have many applications across our entry level roles and graduate schemes. 

Entry level roles are changing and this will play to our advantage over the coming years as these positions move away from being admin heavy and become more skills based. This is likely to be more attractive for those starting out in their careers.