Insurance: a talent-rich industry with much to offer

The insurance industry offers significant added value, dedicating substantial efforts to innovation and remaining at the forefront of new technologies and trends. This is precisely what underpins high-quality employment, allowing professionals to fully develop their potential.

Every area of activity—from sales and claims management to customer service and human resources—plays a key role, forming a robust network of diverse talents that strengthen companies. That’s why talent is so important among its ranks.

A quality job should offer motivation, suitable conditions, security, and the opportunity to pursue personal goals. The insurance industry excels in these areas, providing stability, competitive remuneration, and other social benefits.

According to the Social Report by UNESPA (the Spanish insurance employers’ association), the average annual salary in 2023 was €49,000, with 98.2% of contracts being permanent. The industry is also committed to equality (according to ICEA—Cooperative Research between Insurance Entities and Pension Funds—31.4% of managerial positions in insurance are held by women) and talent development.

The industry’s commitment to quality employment is evident in the 18th Merco Talent Spain Ranking, which lists the top 100 companies for attracting and retaining talent. Notably, seven insurance companies made the list, with MAPFRE ranking first among insurance firms and tenth overall. The report emphasizes that the industry’s “key strengths include work-life balance, employee recommendations, and recognition.”

Experience is a significant component of the insurance value chain. Given the complexity of the industry, professionals gain skills through their work that enhance their ability to strengthen this chain. Maintaining and developing this expertise is essential for insurance companies to better serve their clients.

Specialization is equally important, as continuous professional training and development is key to success. This ongoing learning process provides excellent motivation, encouraging individuals to excel, challenge themselves, and improve each day.

The insurance industry emphasizes the importance of training, with most companies offering robust development programs for their employees. According to 2023 data from ICEA:

• 36% of employees have a career development plan
• 95% of workers received training in the past year
• An average of €455 is invested per employee in training
• Employees spend an average of 34 hours annually on training

Age is a valued attribute in the insurance industry across all levels. Young talent infuses the sector with fresh perspectives and innovative ideas, which is why organizations like AJPS (the Association of Young Insurance Professionals) have emerged to drive industry change with youth as a key catalyst.

At the same time, the industry increasingly needs increasingly specialized and skilled professionals. To meet this need, Fundación MAPFRE, in collaboration with UNESPA, Fundación Bertelsmann, and the Alliance for Dual Vocational Training, supports targeted programs such as the Higher Degree in Administration and Finance with a specialization in advanced insurance skills.

Senior talent is also greatly valued. For example, MAPFRE, where 28% of professionals are over 50, has once again led the IBEX 35 ranking for its commitment to this age group, as reported in the sixth edition of the Senior Career and Talent Report 2023.

In addition to training programs, professionals at this company benefit from a range of growth opportunities:

• Career development and progression plans
• Functional and geographic mobility
• Recognition and mentorship programs
• Knowledge management tools
• 360º performance appraisals
• Innovative and transformational projects
• Work-life balance initiatives
• Social benefits and health programs
• Corporate volunteering projects

MAPFRE has also recently signed a cooperation agreement with the ISDI Business School to jointly promote activities that support young talent and specialized training in the insurance sector.

Interest in these careers is on the rise. According to the Guidewire study on customer perspectives in European insurance, 43% of respondents find the insurance sector an attractive field to work in. Have you considered pursuing a career in this industry?

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