Insurance Technology (Insurtech)
UK
The following table provides summary statistics for contract job vacancies with a requirement for Insurtech skills. Included is a benchmarking guide to the contractor rates offered in vacancies that have cited Insurtech over the 6 months to 8 May 2024 with a comparison to the same period in the previous 2 years.
| 6 months to 8 May 2024 |
Same period 2023 | Same period 2022 | |
|---|---|---|---|
| Rank | 560 | 649 | 766 |
| Rank change year-on-year | +89 | +117 | -177 |
| Contract jobs citing Insurtech | 26 | 44 | 83 |
| As % of all contract jobs advertised in the UK | 0.060% | 0.076% | 0.094% |
| As % of the Processes & Methodologies category | 0.070% | 0.084% | 0.10% |
| Number of daily rates quoted | 17 | 35 | 75 |
| 10th Percentile | - | £400 | £405 |
| 25th Percentile | £500 | £525 | £470 |
| Median daily rate (50th Percentile) | £600 | £600 | £550 |
| Median % change year-on-year | - | +9.09% | +2.33% |
| 75th Percentile | £625 | £719 | £669 |
| 90th Percentile | £665 | £800 | £695 |
| UK excluding London median daily rate | £500 | £550 | £600 |
| % change year-on-year | -9.09% | -8.33% | +20.00% |
All Process and Methodology Skills
UK
Insurtech is in the Processes and Methodologies category. The following table is for comparison with the above and provides summary statistics for all contract job vacancies with a requirement for process or methodology skills.
| Contract vacancies with a requirement for process or methodology skills | 37,201 | 52,182 | 79,685 |
| As % of all contract IT jobs advertised in the UK | 86.27% | 89.83% | 90.59% |
| Number of daily rates quoted | 23,946 | 36,175 | 55,967 |
| 10th Percentile | £300 | £325 | £341 |
| 25th Percentile | £413 | £438 | £426 |
| Median daily rate (50th Percentile) | £525 | £550 | £530 |
| Median % change year-on-year | -4.55% | +3.77% | +8.72% |
| 75th Percentile | £638 | £650 | £638 |
| 90th Percentile | £750 | £750 | £738 |
| UK excluding London median daily rate | £500 | £500 | £475 |
| % change year-on-year | - | +5.26% | +8.57% |
| Number of hourly rates quoted | 2,437 | 1,727 | 1,890 |
| 10th Percentile | £12.75 | £11.00 | £12.50 |
| 25th Percentile | £16.00 | £16.25 | £15.50 |
| Median hourly rate | £36.50 | £36.00 | £25.00 |
| Median % change year-on-year | +1.39% | +44.00% | +2.04% |
| 75th Percentile | £60.00 | £65.00 | £49.25 |
| 90th Percentile | £72.50 | £75.00 | £65.00 |
| UK excluding London median hourly rate | £38.00 | £35.00 | £20.00 |
| % change year-on-year | +8.57% | +75.00% | -6.98% |
Insurtech
Job Vacancy Trend
Job postings citing Insurtech as a proportion of all IT jobs advertised.
Insurtech
Contractor Daily Rate Trend
3-month moving average daily rate quoted in jobs citing Insurtech.
Insurtech
Daily Rate Histogram
Daily rate distribution for jobs citing Insurtech over the 6 months to 8 May 2024.
Insurtech
Top 6 Contract Locations
The table below looks at the demand and provides a guide to the median contractor rates quoted in IT jobs citing Insurtech within the UK over the 6 months to 8 May 2024. The 'Rank Change' column provides an indication of the change in demand within each location based on the same 6 month period last year.
| Location | Rank Change on Same Period Last Year |
Matching Contract IT Job Ads |
Median Daily Rate Past 6 Months |
Median Daily Rate % Change on Same Period Last Year |
Live Jobs |
|---|---|---|---|---|---|
| England | +70 | 22 | £600 | -2.04% | 40 |
| Work from Home | +118 | 19 | £600 | +33.33% | 21 |
| London | +78 | 16 | £600 | -7.69% | 26 |
| UK excluding London | +74 | 7 | £500 | -9.09% | 14 |
| South East | +14 | 5 | £500 | -20.00% | 6 |
| Northern Ireland | - | 2 | - | - |
Insurtech
Co-occurring Skills and Capabilities by Category
The follow tables expand on the table above by listing co-occurrences grouped by category. The same employment type, locality and period is covered with up to 20 co-occurrences shown in each of the following categories: