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Broker demand and claims skill shortages ‘drive insurance salaries’

Demand for brokers and claims professionals is expected to rise in the first half of this year, with increased salaries likely as brokerages look to retain talent, according to recruitment group Hays.

“In particular, we’re seeing a shortage of suitable brokers and claims professionals, with team managers and seniors highly sought,” the company says.

“This is starting to impact salaries. The number of counter-offers is also increasing as organisations attempt to retain experienced staff.”

Hays says senior employees are being taken off portfolios to develop their leadership skills, while workers’ compensation claims consultants are being moved to the group side of income protection to utilise their rehabilitation and return-to-work skills.

The demand for claims professionals is a response to natural disasters, and motor assessors are needed following an increase in vehicle registrations.

The life insurance market can expect a shortage of group and retail claims consultants, and team managers, Hays says.