Recruitment agency Talenza says demand for skills in cybersecurity and program delivery is climbing, and hiring managers are adjusting job descriptions and offering more flexible arrangements to fill gaps.

CEO Henry Gatehouse says insurance industry employers are prioritising professionals who embrace emerging technologies such as AI and who can lead during tech transformations.

“Following years of disruption and uncertainty, the market has stabilised, but hiring decisions have become more deliberate.”

Australian insurance companies are investing in modern systems, driving demand and stable salaries, according to Talenza’s latest pay survey.

With large-scale transformation of claims and policy management under way, experienced business analysts are commanding up to $145,000 a year, and program managers up to $225,000.  

“As insurers push forward on digital transformation, they’re hitting a wall when it comes to accessing the talent needed to deliver,” Talenza says. “Business analysts with insurance domain expertise, for instance, are in short supply, particularly those skilled in agile delivery and process optimisation.”

Enterprise architects and cyber professionals are highly sought because the talent pool has not kept pace with rising demand. Those positions command salaries of up to $240,000 and $145,000 respectively. 

Data engineer salaries have jumped by up to $15,000, or about 9%, while general digital marketing roles have dropped by as much as $10,000, or 7.5%.

Talenza account manager Adam Higgins says for insurers, the report reinforces the need to double down on flexible work arrangements and investment.

He says Talenza clients are looking for “people with nimble and agile growth mindsets who can offer value in multiple ways.

“Versatility, adaptability and the ability to learn quickly is vital. We need individuals who can conceptualise and work at pace ... to move things forward with efficiency.”