Insurance & actuarial hiring enters 2026 after a year containing record annuity activity, renewed demand for specialist actuarial skills, and growing pressure on property & casualty (P&C) teams to modernize workflows – all while firms continue to balance return-to-office expectations, changing candidate priorities, and early-stage AI adoption. 

In this outlook, Nicole Mahoney, Senior Vice President – Life & Annuity Recruitment and Serena Helou, Senior Vice President – P&C Insurance Recruitment at Selby Jennings USA, share how these trends will influence hiring, talent availability, and team structure across life, annuity, and P&C functions over the next year.

What changed in insurance & actuarial in 2025, and how will it shape 2026?

"Across P&C, many firms increased their expectations around remote and hybrid work, and started to require more time in the office, leaving many candidates unprepared for such a change. AI also became a prominent topic across P&C functions, influencing tools, workflows, and early adoption plans.

"On the life and annuity side, 2025 delivered record annuity sales, creating significant talent demand. Strong sales allowed firms to reprioritize capital management work and expand hiring needs. Meanwhile, more teams began exploring in-house model development and accelerated underwriting solutions as part of broader automation efforts, and these areas will continue to influence hiring needs and skill requirements in 2026."

What hiring challenges will the insurance & actuarial sector face in 2026?

"Hiring will become more selective across both P&C and life. Firms want deeper specialization, particularly in data and AI capability, and more defined actuarial backgrounds such as commercial versus personal lines.

"Life and annuity hiring managers have also become more particular about relocation and compensation alignment, and many will wait for the exact profile they want rather than adjusting requirements. During COVID, firms were more flexible, but the market has moved back toward stricter expectations, and this is likely to continue throughout 2026."

What are the hardest-to-fill insurance & actuarial roles in 2026? 

"P&C teams will struggle most with hybrid actuarial and data science roles. The skill set is available in the market, but compensation often does not meet these professionals’ expectations, which gives candidates significant influence in the hiring process.

"On the life side, roles requiring a combination of niche technical expertise and strong communication ability remain the hardest to fill. Firms want actuaries fluent in languages such as Python, R, SQL and SAS, alongside traditional actuarial tools, who can also communicate clearly and contribute to innovation – but these profiles are rare."

How should firms update their insurance & actuarial hiring strategy for 2026?

"P&C hiring teams should reduce lengthy interview processes. Multiple rounds lead to candidate disengagement, and most insight can be gathered in three to four interviews, especially when one is held in person.

"On the other hand, life and annuity teams benefit from more proactive planning. Many firms wait until hiring becomes urgent, which puts them behind competitors. Identifying succession needs and building a pipeline earlier creates a more stable hiring process.

"Firms also need to recognize that the market remains candidate-driven. Even when a role feels distinctive, candidates often have several similar offers. Highlighting long-term opportunities and future growth is essential, especially in competitive areas like reinsurance."

How are insurance & actuarial candidate expectations changing in 2026?

"Insurance & actuarial candidates increasingly prefer employers with modern tools and workflows, as opposed to outdated systems. Flexibility also continues to rank high, often outweighing financial incentives.

"Passive candidates will normally only be tempted by roles offering a combination of strong compensation, flexibility, and interesting work. However, at Selby Jennings we frequently help professionals to prioritize what matters most, because it is rarely possible to have all three simultaneously."

How will AI change insurance & actuarial teams in 2026?

"AI is already influencing workflows across insurance, with accelerated underwriting currently one of the biggest applications. Many firms, particularly smaller ones, are moving toward building models in-house as they look to stay competitive.

"AI is not replacing roles. If anything it is expanding opportunities, especially in compliance, audit and model oversight, as actuaries still need to validate and monitor models given the scale and importance of insurance decisions.

"Another emerging change when it comes to hiring is the rise of AI-generated resumes. Hiring teams must ask deeper, more specific questions during interview processes to confirm whether candidates genuinely possess the skills they list."

Which tasks and processes are being automated in insurance & actuarial functions?

"P&C teams are seeing the fastest automation adoption, particularly in:

• Underwriting intake
• Pre-bind analysis
• Broker and agent service work through conversational AI

"Life and annuity has been slower to automate. Much data is still being digitized from physical formats, and many firms are focused on validating accuracy before moving ahead. However, candidates are increasingly looking for roles where AI integration is part of the long-term plan."

Which regulations will impact insurance & actuarial teams in 2026?

"Life teams will be focused on VM-22 and AG 55. AG 55 becomes effective at the end of 2025, with reporting due in 2026. U.S. regulators are applying greater scrutiny to cross-border reinsurance, making AG 55 a major priority next year.

"There are currently no major regulatory changes set to impact the P&C side."

What will be the biggest growth areas in insurance & actuarial in 2026?

"P&C growth is expected in:

• Workers’ compensation, which remains highly profitable
• MGA/MGU expansion and specialty program development
• Property

"Life and annuity growth areas include:

• Valuations and financial reporting
• Modelling
• Non-traditional actuarial roles such as ALM, ERM and market origination"

Where are firms increasing their insurance & actuarial headcount in 2026?

"P&C hiring will continue across MGAs, especially in pricing roles supported by AI-enhanced modeling.

"Life teams are likely to expand in financial reporting, valuation, and offshore-related positions tied to capital management and reinsurance work."

What compensation trends will impact insurance & actuarial hiring in 2026?

"Across the insurance & actuarial sector, expectations around total compensation continue to rise. Salary demands are higher, especially as more firms require in-office working.

"Additional trends include:

• More tuition reimbursement for junior hires
• Expanded parental leave
• Greater use of stock options and RSUs
• Higher actuarial exam raises
• Inclusive holiday calendars aligned with different faith traditions

"On the life side in particular, private equity and investment management firms are disrupting compensation norms. They offer pay levels significantly above traditional carriers, making certain actuarial roles increasingly competitive."

How should firms adjust insurance & actuarial pay and incentives to stay competitive?

"Improving total compensation is becoming more important than adjusting salary alone. Competitive exam programs, expanded benefits, and inclusive policies help firms appeal to a wider range of candidates. Flexibility, culture, and modernization efforts also play a role in staying competitive."

What’s causing insurance & actuarial retention challenges in 2026?

"Remote roles continue to draw talent away from in-office positions. MGAs and MGUs attract candidates with higher bonuses.

"Life and annuity retention is being affected by heavy M&A and reinsurance activity, which has raised concerns about company stability following downsizing in 2025. Culture also remains a major factor. Teams split between remote and in-office work can feel disconnected unless leaders work intentionally to create cohesion."

How can leaders reduce attrition risk and strengthen retention in insurance & actuarial?

"Professionals always respond well to clear growth paths, supportive managers, and flexibility. Mental health days and understanding managers make a measurable difference. Many actuaries stay because their manager recognizes personal commitments and adapts when needed. Purpose and culture matter just as much as compensation."

How can leaders build stronger insurance & actuarial teams in 2026?

"Leaders should focus on culture, purpose, and understanding team members as individuals. Knowing what motivates people and what they want from their careers builds trust and strengthens long-term commitment. Teams are more resilient when employees feel understood and valued."

Speak to the Selby Jennings insurance & actuarial team

If your organization is planning to hire across insurance or actuarial functions in 2026, you can request a call back from Nicole, Serena, and the Selby Jennings insurance & actuarial team for market insights, hiring strategies, and compensation benchmarking. Learn more about our insurance & actuarial talent solutions.

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