Insurance ranks 18th out of 30 industries in an international survey of business students’ preferred career paths, according to Deloitte.

Even in the UK, despite London being one of the world’s most important insurance hubs, insurers account for just 0.2% of companies listed among students’ five “ideal employers”.

Deloitte UK Insurance Lead Partner James O’Riordan says the survey reveals “some uncomfortable truths” for the industry.

“Insurers aren’t appealing to graduates with the right mindset to safeguard future success,” he said.

“Knowing what motivates these students should be central to future recruitment campaigns.”

The research shows “professional training and development” is students’ leading aspiration, with more than half wanting this from an employer.

They also aspire to have leaders who support their development.

“Technological innovation will be critically important for insurers, so as part of the competition for talent insurers must secure the technologically savvy and innovative people that other sectors are chasing too,” Mr O’Riordan said.

Deloitte Head of Financial Services Insight Margaret Doyle says insurers must work with industry bodies and universities to promote careers.  

“Insurers have typically had low campus profiles at university recruitment fairs, so building on this will be key,” she said. “Also important will be showing the range and stability of roles available in insurance and how careers can meet the aspirations of students today.”