WORKFORCE CHARACTERISTICS AND WORKFORCE DEVELOPMENT IN OHIO S INSURANCE INDUSTRY

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1 WORKFORCE CHARACTERISTICS AND WORKFORCE DEVELOPMENT IN OHIO S INSURANCE INDUSTRY Bill LaFayette, Ph.D. Owner, Regionomics S. Fourth St., Columbus, OH

2 WORKFORCE CHARACTERISTICS AND WORKFORCE DEVELOPMENT IN OHIO S INSURANCE INDUSTRY Bill LaFayette, Ph.D. Owner, Regionomics 2013 Summary Ohio s insurance industry will require approximately 26,000 new workers to fill positions coming open between now and 2020 whether newly created through growth or vacant as a result of employee turnover. If these positions are not filled, the growth of Ohio insurance companies will be suboptimal. Private- sector insurance carriers and related activities in 2010 contributed $17.4 billion to Ohio GDP a contribution one- third greater than would be expected in an economy Ohio s size. The 37 percent growth between 2002 and 2010 exceeded the 32 percent national average. There were nearly 95,000 insurance industry jobs in Ohio in 2011 an employment concentration 39 percent greater than average. Even after the employment losses during the recession, industry employment in Ohio is 1.8 percent higher than its level a decade ago, while U.S. employment is 3.5 percent lower. Thus, the industry helped to offset to a degree the much weaker- than- average growth of Ohio employment overall. Not all components of the insurance industry have an above- average concentration in Ohio. Property and casualty insurers have almost twice the employment that would be expected, while life and health carriers employment is slightly below average. Concentrated pockets of insurance employment exist throughout the state, including in a number of smaller metropolitan areas and rural counties. Employers in these counties may have significant problems finding qualified workers because of the smaller total workforce and the smaller share of college graduates that is common outside of Ohio s major metropolitan areas. State and federal labor market data are used to generate distributions of employment by occupation, and specific employment needs in each occupation. Projected net growth represents only a portion of the total need for new employees. A substantial need is also created through turnover in existing positions. Backfilling existing positions generates 79 percent of the Ohio insurance industry s total need for workers through The implementation of the Affordable Care Act is likely to lead to higher employment and a demand for insurance workforce greater than the 26,000 implied by the analysis. The elimination of the ability to exclude prospects based on pre- existing conditions is likely to increase the risk of health insurance pools, despite the entry of healthy people who formerly self- insured. Managing these risks is likely to increase demand for actuaries. The customer base is also likely to become far more granular, increasing the need for customer service representatives and financial and marketing functions.

3 WORKFORCE CHARACTERISTICS AND WORKFORCE DEVELOPMENT IN OHIO S INSURANCE INDUSTRY Bill LaFayette, Ph.D. Owner, Regionomics 2013 Introduction This report is an update and expansion of a workforce analysis completed in May 2011 for a task force of insurance industry executives representing companies throughout Ohio. There is a keen understanding among these leaders that without a trained, capable workforce, the industry s growth and competitiveness will be severely hampered. The purpose of this report is to provide an overview of the geographic dispersion of Ohio s insurance employment and its growth over the last decade, and identify the occupations most critical for the industry s continued growth and the number of workers needed to fill those positions in coming years. The principal finding is that Ohio s insurance industry will require approximately 26,000 new workers to fill positions coming open between now and 2020 whether newly created through growth or vacant as a result of employee turnover. The key point is that if these positions are not filled, the growth of Ohio insurance companies will be suboptimal. In the extreme case, Ohio might lose these companies to other states that are able to offer a convincing argument that they are better equipped to provide a steady flow of talent. Ohio s Insurance industry The size and importance of Ohio s insurance industry can be documented in several ways. One is the industry s contribution to the state s output, or Gross Domestic Product (GDP). Private- sector insurance carriers and related activities in 2010 contributed $17.4 billion to Ohio GDP a contribution one- third greater than would be expected in an economy Ohio s size. Insurance- related GDP grew 37 percent after inflation between 2002 and 2010, versus U.S. growth of 32.1 percent. Insurance employment is also a larger- than- average share of total Ohio employment and has grown much faster than average over the past decade. There were nearly 95,000 insurance industry jobs in Ohio in 2011 an employment concentration 39 percent greater than average. As Figure 1 shows, insurance employment grew far faster than average during the expansion of the last decade and declined at a slower- than- average rate during the recession. Employment grew 6.3 percent in Ohio between 2003 and 2007, compared to U.S. growth of 2.2 percent. Employment declined 4.2 percent between 2007 and 2011 in Ohio, while falling 5.6 percent nationwide. Thus, the industry softened two unfavorable employment trends during the past decade. Total Ohio employment grew less than 0.5 percent between 2003 and 2007, far below the 10 percent U.S. rate. Ohio was one of only four states with fewer jobs at the end of the expansion in 2007 than at the end of the previous expansion in Total Ohio employment peaked in 2006, one year sooner than the U.S., and fell 7.6 percent from that peak, a decline more than one- third greater than the U.S. average. 3

4 Figure 1 Ohio and U.S Insurance Carriers and Related Activities Employment Growth, Index: 2002 = Ohio U.S. Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages. As shown in Figure 2 on the next page, this better- than- average employment growth has continued more recently as well. This chart tracks cumulative employment growth on a monthly basis beginning in January 2010, near the trough of Ohio and U.S. employment. These totals are less reliable than those in Figure 1 particularly those for June 2012 and later but as the chart shows, net growth in Ohio employment since January 2010 has been 3.3 percent, more than triple the 1.0 percent national average. It is worth noting that U.S. insurance employment did not begin growing until May 2011, nearly a year an a half later than most industries. Insurance employment in Ohio is at record highs; U.S. employment is still 6.5 percent below its 2007 peak. 4

5 Figure 2 Ohio and U.S Insurance Carriers and Related Activities Employment Growth, Jan Mar Seasonally Adjusted /10 3/10 5/10 7/10 9/10 11/10 1/11 3/11 5/11 7/11 9/11 11/11 1/12 3/12 5/12 7/12 9/12 11/12 1/13 3/13 Ohio U.S. Source: U.S. Bureau of Labor Statistics, Current Employment Statistics. Seasonal adjustment of Ohio employment by Regionomics. The fact that Ohio s insurance employment is greater than average and is growing faster than average as well as the fact that Ohio insurance companies serve significant numbers of customers outside of Ohio implies that it is an economic driver of the state s economy. Economic drivers lead to the state s economy performing better than it otherwise would. Further, because drivers serve customers outside of Ohio, they bring dollars into the state s economy the only way that household incomes can increase and Ohioans living standards can improve. For these reasons, economic drivers deserve special attention by economic and workforce development. Another implication of the fact that the industry is larger and faster- growing than average is that the companies in the industry are more competitive than their counterparts elsewhere because of some set of economic and/or environmental characteristics in Ohio that favor these companies. Determining the array of characteristics making Ohio insurance companies unusually successful is beyond the scope of this study, but doing so is an important task. Part of nurturing the growth of the drivers is caring for the underlying factors that make them successful in the first place. Workforce quality is certainly one of those factors. Table 1 on the next page analyzes the composition, growth, and relative strength of Ohio s insurance industry. This is a nested classification, with successively more specific components a subset of the broader component above; this is indicated in the table by indenting the industries that are subsets of the broader category. Insurance Carriers and Related Activities is the broad category, which consists of two primary components: Insurance Carriers, and Insurance Agencies and Brokerages and Other 5

6 Activities. Insurance Carriers in turn includes Direct Life and Health Insurance Carriers; and Direct Insurers, except Life and Health. The table compares Ohio to U.S. employment growth through the expansion and the contraction, unpacking the better- than- average employment growth in Ohio. Comparing Ohio and U.S. growth, it is clear that the key reason for the above- average growth of insurance employment during the expansion was property and casualty insurers, which are a large share of total employment (more than one- third of the total) and growth of more than 10 percent, versus a small loss at the national level. While health insurers growth also exceeded the average, life insurance companies shed positions at a faster rate than their counterparts elsewhere. The contributions to the smaller- than- average recession declines were much more balanced: most segments did better than average, with health insurers turning in an especially impressive performance. The final column of Table 1 presents each component s Location Quotient (LQ). This is a measure of relative employment concentration, and is calculated by dividing the share of total payroll employment accounted for by the industry in Ohio by its employment share nationally. LQs greater than one indicate industries with greater- than- average concentrations of employment in Ohio. (The overall LQ of can be interpreted as a concentration of employment 14.3 percent higher than what would be expected in an economy Ohio s size.) Certain components are far more concentrated than are others; property and casualty insurers have almost twice the employment that would be expected, while life and health carriers employment is slightly below average. Agencies and brokerages are also below average, but that is to be expected: these establishments serve primarily a local market, so an LQ far greater than Table 1 Employment, Growth, and Concentration of Ohio s Insurance Industry Ohio emp. Change, Change, LQ** Industry* 2011 Ohio U.S. Ohio U.S Insurance carriers and related activities 94, % 2.2% - 4.2% - 5.6% Insurance carriers 61, % - 2.7% - 3.6% - 7.6% Direct life and health insurance carriers 23, % - 3.4% 3.7% - 6.2% Direct life insurance carriers 10, % % - 5.6% - 7.5% Direct health & medical ins. carriers 13, % 4.0% 12.1% - 5.2% Direct insurers, except life and health 38, % - 1.4% - 7.6% - 9.4% Direct property and casualty insurers 36, % - 1.7% - 4.6% - 5.3% Direct title insurance carriers 1, % - 3.5% % % Other direct insurance carriers % 30.6% 4.4% 2.5% Reinsurance carriers % % 3.2% - 3.5% Insurance agencies and brokerages and other activities 32, % 10.1% - 5.4% - 2.8% Insurance agencies and brokerages 23, % 9.1% - 6.6% - 5.3% Other insurance related activities 9, % 12.9% - 2.1% 4.7% Claims adjusting 1, % 9.4% 27.7% - 1.8% Third party admin. of insurance funds 6, % 10.8% - 2.3% 7.6% All other insurance related activities 1, % 22.4% % 4.2% *Indented industries are subsets of the industry above. **LQ = Location quotient, the percentage of total Ohio employment in the industry divided by the percentage of U.S. employment in the industry. LQ greater than 1.0 implies a higher- than- average concentration of employment in the industry. Source: Calculated from U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages. 6

7 1.0 would be a danger sign indicating overconcentration. However, one of the subcategories of Other Insurance- Related Activities that does have a high concentration is third party administration. Because this industry is a conduit between insurance companies and employers, access to the expertise of former insurance carrier employees that is available to these companies is likely a significant advantage that Ohio- based third- party administrators enjoy. Insurance Employment at the County Level An important point for insurance industry workforce planning is that concentrated pockets of insurance employment exist throughout the state, including in a number of smaller Metropolitan Statistical Areas (MSAs) and rural counties. This is shown in Figure 3, which color- codes Ohio counties in terms of their overall insurance location quotient. Insurance employment is not reported for the 19 counties in white. Confidentiality restrictions require employment to be suppressed in cases where employment for any single business could be deduced either because of a very small number employers or a single dominant employer. Information from a different source Figure 3 County- Level Location Quotients for Insurance Carriers and Related Activities, 2011 LQ 1.2/higher LQ LQ LQ LQ 0.34/lower No data Source: Calculated from U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages. 7

8 (the Census Bureau s County Business Patterns) suggests that none of these counties has an insurance employment concentration greater than 0.4. Table 2 presents employment and employment growth in the 13 counties with LQ greater than the state average the counties colored dark blue in Figure 3. From a workforce planning standpoint, LQ is a more significant indicator of a county requiring workforce development focus than is its sheer number of jobs. A table of counties with the greatest employment size would be dominated by the large urban counties. These counties have large numbers of insurance workers, but they also have large numbers of available workers and are part of MSAs from which even more workers can be drawn. This is true of the suburban counties in Table 2 as well. On the other hand, small MSA and rural counties (for instance, Clark, Crawford, Monroe, and Van Wert in Table 2) have smaller total employment but may have even greater problems finding qualified workers because of the smaller total workforce and the smaller share of college graduates that is common in the workforce of the counties outside of Ohio s major metropolitan areas. Table 2 Level and Growth of Insurance Employment in High- Concentration Ohio Counties Employmt. Percentage change LQ* County County seat Butler Hamilton 5, % - 2.1% Clark Springfield 2, % 12.8% Clermont Batavia 1, % - 7.6% Crawford Bucyrus % - 4.3% Cuyahoga Cleveland 18, % % Delaware Delaware 2, % 21.0% Franklin Columbus 21, % - 8.0% Hamilton Cincinnati 10, % % Licking Newark 1, % 11.6% Monroe Woodsfield 129 N/A N/A Summit Akron 4, % 1.8% Van Wert Van Wert % - 5.7% Warren Lebanon 2, % 35.2% Ohio 6.3% - 4.2% United States 2.2% - 5.6% Source: Calculated from U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages. Statewide Occupational Employment Distribution and Projection A Bureau of Labor Statistics database, the Industry- Occupation Employment Matrix, provides national- level estimates of the number of workers employed in specific occupations within a wide array of industries as of 2010 and The insurance industries available include Direct Insurers, except Life and Health; Insurance Agencies and Brokerages; and Other Insurance- Related Activities. (See Table 1; regrettably, Direct Life and Health Insurance Carriers are not available in the database.) If we assume that the distribution of occupations in Ohio companies is typical of the national distribution, estimates of occupational employment in Ohio insurance companies in 2011 can be easily generated by multiplying the national percentage of employment in each occupation by the corresponding 2011 employment total from Table 1. 8

9 Further, combining the 2020 Employment Matrix projections with net industry growth projections for Ohio from the Ohio Labor Market Information Bureau generates occupation- level employment projections for the state that incorporate both industry growth and anticipated shifts in demand for specific occupations by the insurance industry. Table 3 shows the Ohio net growth projections as well as the U.S. growth projections from the Bureau of Labor Statistics for the overall economy and for the insurance industry. Projected Ohio growth for insurance carriers in the coming decade is much stronger than the national average. Agency, brokerage, and other activity growth is less, however likely because Ohio s slow population growth will generate less growth in the demand for insurance agency services. Table Net Growth Projections for Insurance- Related Industries Ohio employment (000) Ohio change U.S. change Change Total, all industries 5, , % 9.3% - 2.2% 14.3% Insurance carriers and related activities % 7.8% 0.8% 8.7% Insurance carriers % 5.2% - 4.6% 3.4% Agencies, brokerages, and other insurance- related activities % 12.6% 10.5% 17.0% Source: Employment Projections, Ohio Labor Market Information Bureau and U.S. Bureau of Labor Statistics. The net employment changes derived from these calculations represent only a portion of the total need for new employees, however; a substantial need is also created through turnover in existing positions. The Ohio Occupational Employment Projections include estimates of the annual need created by turnover within each specific occupation (across all industries). Multiplying the annual need by ten gives the ten- year all- industry turnover for the occupation. This is divided by the 2010 all- industry employment to get the ten- year turnover rate; the ten- year rate is multiplied by 0.9 to get the nine- year rate. The nine- year rate times the estimate of 2011 employment in the occupation within the specific insurance industry gives the replacement need for the occupation within the industry. The replacement need plus the growth need equals the total need. In most cases, the replacement need is far larger than the growth need; in total, replacement needs account for 79 percent of the total workforce need. The Appendix contains tables providing growth and replacement needs for workers in total and for the most prevalent occupations within the available insurance industries. Table A- 1 features Direct Insurers, except Life and Health. Insurance Agencies and Brokerages are in Table A- 2, and Other Insurance- Related Activities are in Table A- 3. Table A- 4 combines the information in Tables A- 1 through A- 3 to provide occupational needs for these industries in total. For the industry overall, four occupations sales agents, claims adjusters, claims and policy processing clerks, and customer service representatives together account for a need of nearly 10,900, more than half of the 19,600 total. Again, however, occupational needs for life and health insurers are not part of this overall need because this industry is not included in the Employment Matrices. In many respects the staffing pattern for life and health insurers likely resembles that of the other types of direct carriers in Table A- 1, except for a greater relative need for actuaries and for medical professionals such as registered nurses. 9

10 Because life and health insurers are not represented in this analysis, the 19,600- employee need reported in Table A- 4 understates the total industry- wide need. A rough approximation of the total need can be obtained by noting that the total need for all three available industries as a percentage of 2011 employment is quite similar between 27.2 percent and 27.9 percent so the total need for new workers in life and health insurance companies probably lies in this range as well. Life and health insurers employed 23,696 in 2010 and 23,372 in 2011; the latter total is reported in Table 1. From Table 3, insurance carriers employment is expected to increase 5.2 percent between 2010 and 2020; this implies life and health insurance employment of 24,921 in Net nine- year growth is thus 1,549. The most appropriate total need percentage is probably the 27.2 percent for direct non- life and health carriers rather than the 27.6 percent for the combined three industries. This implies a total growth and replacement need of 6,358; subtracting the growth need from the total need gives a replacement need of 4,809. Adding life and health carriers needs to the total for the other industries implies that Ohio s insurance industry will need a total of 26,000 new workers between 2011 and These calculations and the resulting needs are summarized in Table 4. 1 Table 4 Occupational Growth and Replacement Needs, All Insurance Industries Including Direct Life and Health Carriers Growth Turnover Total need Pct. of 2011 Industries other than life & health* 71,038 75,217 4,179 15,417 19, % Life and health 23,372 24,921 1,549 4,809 6, % Total industry 94, ,138 5,728 20,227 25, % *From Table A- 4. The Affordable Care Act and the Health Insurance Industry An implicit assumption in the ten- year projections analyzed above is that although they reflect anticipated changes in technology, the industry s status quo will continue fundamentally unchanged. That assumption fails in one important case: the passage of the Affordable Care Act (ACA) and its affirmation in the Supreme Court in June 2012 will have potentially substantial impacts on the health insurance industry. While no detailed analysis seems to exist regarding the impact of the ACA on insurance industry employment, considering the implications of the law implies the general conclusion that employment is likely to increase, both for carriers and agencies. Beginning next year, everyone (with a few exceptions) will be required to buy health insurance. Those who fail to do so other than those who do not earn enough to owe income tax will be charged a fine equal in 2014 to one percent of income or up to $285 per family, whichever is higher. By 2016, the fine rises to 2.5 percent of income or up to $2,085 per family, whichever is higher. Insurance costs will be subsidized for anyone earning less than 400 percent of the federal poverty threshold, or $45,960 for an individual and $94,200 for a family of four in Insurers cannot deny people insurance on the basis of pre- existing conditions. However, the public option which would have drawn customers away from private insurance companies was not part of the final law. 1 Observant readers will note a slight difference between total 2011 Ohio insurance employment in Table 4 and the total reported for all industries in Table 1. The Table 4 total does not include the 325 employees of reinsurance carriers; reinsurance is not part of any other industry and is not covered in the analysis. 10

11 These provisions will induce numerous healthy people who currently self- insure to buy insurance, as well as those previously uninsurable. Nationally, 46.4 million people lacked health insurance at some point during 2011, as did 1.35 million Ohioans, according to estimates in the American Community Survey. Madhavan argues that this creates both challenges and opportunities for insurance carriers. The challenge is managing the risk of those with pre- existing conditions. Madhavan recommends that these be grouped in two categories those whose conditions are manageable with medications and lifestyle changes, and those with conditions that are severe and leading to high medical loss ratios. This requires insurance carriers to implement more sophisticated risk analysis and management practices. The opportunity is that the potential customer base is much larger and more retail- oriented. Madhavan recommends that insurance carriers become more deliberate about targeting the right product to potential customers in order to increase sales. Nussbaum argues that the industry in general will need to shift its marketing strategy to a far more retail- oriented approach rather than focusing on a human resources director who may be choosing coverage for a staff of several hundred. He cites a United Healthcare customer service center in a mall as an example of this approach. These points imply that staffing patterns in health insurance may shift. There is likely to be greater demand for actuaries to quantify the changing risk of the expanded customer base. The need for customer service representatives and back- office financial functions is likely to increase to handle the larger, more granular customer base. Marketing functions are likely to be in greater demand as well to help capitalize upon the opportunities that the ACA will provide. The demand for services of insurance agencies and hence their employment is likely to increase as well. In general, the passage of the ACA suggests that insurance employment and the demand for insurance workforce is likely to be greater than the 26,000 implied by the analysis above. Works Cited Madhavan, Anand. "Prospecting For Members." Best's Review (2012): Business Source Premier. Web. 16 May Nussbaum, Alex. "Buy Your Insurance Next To The Cinnabon." Bloomberg Businessweek 4313 (2013): Business Source Premier. Web. 16 May

12 APPENDIX Table A- 1 Occupational Growth and Replacement Needs, Direct Insurers, except Life and Health Occupation Growth Turnover Total need Pct. of 2011 Total, All Occupations 38,116 40,279 2,163 8,205 10, % Claims Adjusters, Examiners, and Investigators 6,251 6, ,444 1, % Insurance Claims and Policy Processing Clerks 3,964 3, , % Insurance Underwriters 3,164 3, , % Customer Service Representatives 3,126 3, % Insurance Sales Agents 2,401 2, % Title Examiners, Abstractors, and Searchers 1,067 1, % First- Line Supervisors of Office and Administrative Support Workers 991 1, % Office Clerks, General 991 1, % Business Operations Specialists, All Other % Management Analysts % General and Operations Managers % Computer Systems Analysts % Executive Secretaries and Executive Administrative Assistants % Financial Managers % Accountants and Auditors % Secretaries and Administrative Assistants, Except Legal, Medical, and Executive % Bookkeeping, Accounting, and Auditing Clerks % Software Developers, Applications % Lawyers % Insurance Appraisers, Auto Damage % Computer Support Specialists % Managers, All Other % Financial Analysts % Sales Managers % Computer and Information Systems Managers % Training and Development Specialists % Computer Programmers % Loan Interviewers and Clerks %

13 Table A- 1 Occupational Growth and Replacement Needs, Direct Insurers, except Life and Health (Continued) Occupation Growth Turnover Total need Pct. of 2011 Loan Officers % Information Security Analysts, Web Developers, and Computer Network Architects % Sales Representatives, Services, All Other % Network and Computer Systems Administrators % Actuaries % Paralegals and Legal Assistants % First- Line Supervisors of Non- Retail Sales Workers % Billing and Posting Clerks % Receptionists and Information Clerks % Marketing Managers % Administrative Services Managers % Compliance Officers % Human Resources, Training, and Labor Relations Specialists, All Other % Computer Occupations, All Other % Telemarketers % File Clerks % Mail Clerks and Mail Machine Operators, Except Postal Service % Chief Executives % Financial Specialists, All Other % 13

14 Table A- 2 Occupational Growth and Replacement Needs, Insurance Agencies and Brokerages Occupation Growth Turnover Total need Pct. of 2011 Total, All Occupations 23,899 25,312 1,413 5,101 6, % Insurance Sales Agents 8,269 9,467 1,198 1,717 2, % Customer Service Representatives 3,226 3, % Insurance Claims and Policy Processing Clerks 2,748 3, , % Office Clerks, General 1,482 1, % Secretaries and Administrative Assistants, Except Legal, Medical, and Executive 1,147 1, % Claims Adjusters, Examiners, and Investigators % Bookkeeping, Accounting, and Auditing Clerks % Insurance Underwriters % First- Line Supervisors of Office and Administrative Support Workers % Receptionists and Information Clerks % Executive Secretaries and Executive Administrative Assistants % General and Operations Managers % Accountants and Auditors % First- Line Supervisors of Non- Retail Sales Workers % Sales Managers % Financial Managers % Securities, Commodities, and Financial Services Sales Agents % Telemarketers % Market Research Analysts and Marketing Specialists % Personal Financial Advisors % Computer Support Specialists % Sales Representatives, Services, All Other % File Clerks % Chief Executives % Management Analysts % Business Operations Specialists, All Other % Computer Systems Analysts % Network and Computer Systems Administrators % Billing and Posting Clerks % Data Entry Keyers % Marketing Managers % 14

15 Table A- 2 Occupational Growth and Replacement Needs, Insurance Agencies and Brokerages (Continued) Occupation Growth Turnover Total need Pct. of 2011 Administrative Services Managers % Computer and Information Systems Managers % Insurance Appraisers, Auto Damage % Compliance Officers % Human Resources, Training, and Labor Relations Specialists, All Other % Compensation, Benefits, and Job Analysis Specialists % Training and Development Specialists % Financial Analysts % Financial Specialists, All Other % Computer Programmers % Public Relations Specialists % Janitors and Cleaners, Except Maids and Housekeeping Cleaners % Retail Salespersons % Switchboard Operators, Including Answering Service % Mail Clerks and Mail Machine Operators, Except Postal Service % 15

16 Table A- 3 Occupational Growth and Replacement Needs, Other Insurance- Related Activities Occupation Growth Turnover Total need Pct. of 2011 Total, All Occupations 9,023 9, ,914 2, % Claims Adjusters, Examiners, and Investigators 1,823 1, % Customer Service Representatives 929 1, % Insurance Claims and Policy Processing Clerks % Office Clerks, General % First- Line Supervisors of Office and Administrative Support Workers % Insurance Sales Agents % General and Operations Managers % Bookkeeping, Accounting, and Auditing Clerks % Secretaries and Administrative Assistants, Except Legal, Medical, and Executive % Executive Secretaries and Executive Administrative Assistants % Accountants and Auditors % Insurance Underwriters % Registered Nurses % Billing and Posting Clerks % Business Operations Specialists, All Other % Financial Managers % Management Analysts % Compensation, Benefits, and Job Analysis Specialists % Computer Systems Analysts % Software Developers, Applications % Computer Support Specialists % Data Entry Keyers % Sales Representatives, Services, All Other % Insurance Appraisers, Auto Damage % Computer Programmers % Actuaries % Receptionists and Information Clerks % Computer and Information Systems Managers % Network and Computer Systems Administrators % Mail Clerks and Mail Machine Operators, Except Postal Service % Administrative Services Managers % 16

17 Table A- 3 Occupational Growth and Replacement Needs, Other Insurance- Related Activities (Continued) Occupation Growth Turnover Total need Pct. of 2011 Financial Analysts % File Clerks % Chief Executives % Sales Managers % Compliance Officers % Training and Development Specialists % Bill and Account Collectors % Human Resources, Training, and Labor Relations Specialists, All Other % Market Research Analysts and Marketing Specialists % Personal Financial Advisors % Financial Specialists, All Other % Information Security Analysts, Web Developers, and Computer Network Architects % Lawyers % Securities, Commodities, and Financial Services Sales Agents % Correspondence Clerks % 17

18 Table A- 3 Occupational Growth and Replacement Needs, Combined Insurance Industries, except Life and Health Occupation Growth Turnover Total need Pct. of 2011 Total, All Occupations 71,038 75,217 4,179 15,417 19, % Insurance Sales Agents 10,986 12,633 1,647 2,280 3, % Claims Adjusters, Examiners, and Investigators 8,719 9, ,019 2, % Insurance Claims and Policy Processing Clerks 7,443 7, ,019 2, % Customer Service Representatives 7,281 7, ,874 2, % Insurance Underwriters 3,879 4, ,141 1, % Secretaries and Administrative Assistants, Except Legal, Medical, and Executive 1,992 1, % First- Line Supervisors of Office and Administrative Support Workers 1,770 1, % Bookkeeping, Accounting, and Auditing Clerks 1,327 1, % General and Operations Managers 1,322 1, % Executive Secretaries and Executive Administrative Assistants 1,301 1, % Title Examiners, Abstractors, and Searchers 1,091 1, % Business Operations Specialists, All Other 1,075 1, % Accountants and Auditors 1,014 1, % Management Analysts 980 1, % Financial Managers % Computer Systems Analysts % Receptionists and Information Clerks % Software Developers, Applications % Computer Support Specialists % Lawyers % Insurance Appraisers, Auto Damage % Sales Managers % First- Line Supervisors of Non- Retail Sales Workers % Financial Analysts % Sales Representatives, Services, All Other % Billing and Posting Clerks % Managers, All Other % Computer Programmers % Computer and Information Systems Managers % Market Research Analysts and Marketing Specialists % Training and Development Specialists % 18

19 Table A- 3 Occupational Growth and Replacement Needs, Combined Insurance Industries, except Life and Health (Continued) Occupation Growth Turnover Total need Pct. of 2011 Network and Computer Systems Administrators % File Clerks % Loan Interviewers and Clerks % Telemarketers % Information Security Analysts, Web Developers, and Computer Network Architects % Actuaries % Data Entry Keyers % Mail Clerks and Mail Machine Operators, Except Postal Service % Administrative Services Managers % Loan Officers % Compliance Officers % Human Resources, Training, and Labor Relations Specialists, All Other % Chief Executives % Marketing Managers % Compensation, Benefits, and Job Analysis Specialists % Registered Nurses % Securities, Commodities, and Financial Services Sales Agents % Paralegals and Legal Assistants % Financial Specialists, All Other % 19