New Zealand's insurance market is active, with various trends impacting skills in demand, says global recruitment firm, Hays.

In its FY2019/20 Salary Guide which spotlights Australia and New Zealand salary and recruitment trends, Hays says that one trend is the continued movement of brokers either back into underwriting or overseas after gaining three to five years of experience. This is creating high demand for skilled and experienced commercial brokers. In response, employers have begun to consider candidates from Australia and the UK.

Another is the trend of brokerages bringing their claims in-house in order to increase customer service and create a one-stop shop for all insurance needs. This is fuelling demand for end-to-end claims professionals with a holistic understanding of the claims process. Meanwhile, population growth will also add to ongoing demand for claims professionals.

Property underwriters and property loss adjusters are highly sought after too due to New Zealand’s strong residential construction industry as well as the increase in the commercial property market.

Hays expects too to see growing demand for financial advice providers with a Level Five qualification on the New Zealand Qualification Framework due to new legislation. By the end of 2020, this will be a requirement for all brokers and broker support professionals. A Level Five certificate or diploma qualifies individuals with theoretical and/or technical knowledge and skills within an aspect(s) of a specific field of work or study.

While salaries in larger companies remain steady, smaller brokerages are offering increases in order to retain high performing staff and attract candidates from larger organisations. As a result, larger companies will need to assess their packages if they want to retain staff.

Finally, higher salaries are also being offered in specialist areas such as professional indemnity and liability, says Hays.