The Insurance UK Market Analysis

As part of the series of insights around our 2023 Insurance Salary Survey, we have analysed the current UK hiring market to understand the trends, challenges and opportunities for the year ahead. Read on for our UK market insights and overview.


An infographic in purple and black showing an overview of the insurance industry


Much like the year before, 2022 saw another year of high hiring demand within the UK Insurance sector. With an average median tenure of 2.8 years, it is evident that the majority of professionals in the industry changed roles post-covid, whilst 16% have changed in the last year. There has been a general rise in salaries across the board as a result of the high demand. But, in spite of this heightened demand, there has only been a 0.5% increase in professionals in the last year, which indicates there aren’t many new professionals entering the market.

Given that insurance businesses thrive on uncertainty, the instability around the financial climate in the UK and the onset of the cost-of-living crisis offer the potential for businesses in the sector to thrive. But, with that being said, businesses within the sector are not immune to these challenges and should therefore also be anticipating further disruption and challenges as a result of these factors.

Top Locations

There has been either no change or negative change in the top 5 most popular locations for Insurance professionals year-on-year, at a rate of between 0% to -1%. The only other notable location is Cardiff, as they are one of the few locations that are significantly increasing at a rate of 4%; however, their demand for hiring isn’t actually as high as other locations in the top 10.

London Area 17,244 (1% increase) 914 Very high
Manchester Area 3,254 (0% decrease) 206 Very high
Greater Leeds Area 2,426 (1% decrease) 113 Very high
Greater Glasgow Area 1,691 (1% increase) 54 Moderate
Birmingham 1,332 (0% increase) 105 Very high
Greater Bristol Area 1,234 (2% increase) 89 Very high
Greater Liverpool Area 1,111 (2% increase) 49 Moderate
Greater Cardiff Area 915 (4% increase) 38 Moderate
Tyneside Area 714 (2% increase) 23 High
Greater Sheffield Area 564 (2% increase) 29 High

Job Titles

The prevalence of more junior titles among the talent pool could indicate that the Insurance industry is building a skills pipeline by hiring professionals at a lower level than previously, and then building them up into more senior positions over time.

Associate Underwriter 40% increase 74
Junior Underwriter 34% increase 106
Assistant Underwriter 9% increase 1334
Senior Underwriter 5% increase 3055
Lead Underwriter 4% increase 243
Senior Claims Adjuster 4% increase 612
Insurance Assistant 4% increase 393
Underwriting Assistant 4% increase 1576
Vice President of Underwriting 3% increase 30
Assistant Claims Manager 3% increase 93

Education & Institutions

Chartered Insurance Institute 1,299
University of the West of England 559
Nottingham Trent University 547
Sheffield Hallam University 488
Northumbria University 473
Liverpool John Moores University 459
London South Bank University 430
University of Reading 411
University College of Estate Management 393
The Open University 391

Interestingly, when comparing recent graduates to the professional body in the industry as a whole, we can see that more people have chosen to stay on at university in order to obtain a master’s degree. This could be indicative of a reluctance to head straight into the world of work, perhaps due to the instability of the current job climate and the difficulty many are facing in securing a position. Or perhaps because so many people have obtained a Bachelor-level degree now, new graduates will need to obtain a master’s degree in order to stand out.

Infographic showing the highest degree attained for recent grads and total professionals within insurance company in blue background


With the hiring market showing no sign of slowing down, the next 12 months are set to be just as busy as the previous ones have been. But, with the shortage of talent continuing to impact ability to hire, HR businesses need to consider their offering and the value they can provide to potential new hires who are spoiled for choice of opportunities.


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