The insurance industry still faces a shortage of skilled executives and will have trouble filling vacancies, according to recruitment company Hays.

“Insurance remains one of the most skills-short industries in Australia,” Hays Insurance Business Director Carl Piesse told insuranceNEWS.com.au. “There appears to be a continued lack of investment in attracting graduates and entry-level staff.

“A lot of people who work in the industry fall into it rather than identifying it as a target sector.”

Hays’ jobs report for the March quarter says the industry will look to hire more staff, with account executives and senior life underwriters in high demand. But it warns finding qualified candidates will be difficult.

Claims professionals with motor and catastrophe experience are also in demand.

Career advancement rather than remuneration is the main motivator for most executives in the industry, which is reflective of the wider financial services sector.

“Candidates are looking for a chance to grow and develop their career… so the industry needs to do more to ensure talented candidates don’t go elsewhere and are given opportunities to continue their career growth,” Mr Piesse said.