POWERED BY
LEARN

Tech Talent Insights & Trends - 2024

London Market and Specialty Insurance Sector
< Back to hub

We explore the most current developments and trends influencing the tech talent market in 2024, as part of our recent partnership with Pioneer Search, a top tech and transformation recruiter for the London Market and Specialty Insurance industry.

It is clear that the London Market and Specialty Insurance industry has shown remarkable resilience and flexibility throughout the challenging years of 2022 and 2023, which were characterised by dramatic changes in the nature of the tech talent market and the standardisation of pay. The rise of the remote worker is one of these shifts that has raised important concerns over the nature of work in the future and how best to attract and retain top talent.

Following the IR35 reforms in 2021, the London Market was exceptional in its management of contractor working status challenges, which resulted in stable pricing for contractor day rates. However, the emergence of the remote worker is the overriding issue that affects all job categories. Flexible working patterns, the need for physical presence, and the feasibility of hybrid working models are fundamentally questioned by this movement.

Could London Market and Specialty Insurance benefit from using remote workers? Is it necessary for contractors to operate from a certain place of work? These inquiries highlight the changing dynamics of today's technology workforce, where established standards are giving way to innovative ideas.

As we embark on the ever-changing tech talent landscape, we delve into the latest trends shaping the market at the moment:

The focus very much remains on software development, with Microsoft technologies in the driving seat. With the demand in no-code and low-code capabilities, there is an increase in the need for skills in C#.Net, Azure, and Power Platforms. In 2023, there was a remarkable success with diversity across software development, with 50% percent of candidate placements identifying as female.

Data science is still in its early stages of development within the London market, with many data scientists eventually transitioning to data engineering. New developments in Machine Learning and AI are driving a convergence of Actuarial functions with Data Science, despite early scepticism.

The adoption of Blueprint Two in 2024 has contributed to the spike in demand for experienced architecture professionals, which is widely recognised as the backbone of the IT sector. In the contracting and interim world, many architects work outside of IR35, meaning those with deep subject expertise are now able to command six-figure salaries.

But even with all these innovations, the London Market and Specialty Insurance sector is still facing challenges. There is a shortage of talent because of the post-BREXIT climate, the IR35 tax changes, and the proliferation of hybrid work patterns. Salary and contract day rate increases across the board are likely to occur as businesses compete for the best talent.

To sum things up, the London Market and Specialty Insurance scene is at a turning point in terms of change and innovation. Embracing remote work, supporting diversity, and investing in people development will be crucial for staying ahead in the digital race as it navigates the challenges of a quickly developing tech ecosystem.

Whether you’re struggling to recruit hard-to-find tech talent for your business or looking to elevate your tech and change functions to stay ahead of the curve in the competitive tech talent market, the team at Pioneer Search are here to help.


Dive into invaluable insights tailored exclusively for you, breaking down salary ranges, contract rates, and the latest inside vs. outside IR35 trends. Plus, gain access to expert analysis from Pioneer Search’s recruitment specialists, helping you make informed decisions to optimise your hiring strategies.
 
Don't miss out! Register today to unlock your exclusive guide and stay in the loop with the London Market tech talent landscape.

Or alternatively, contact a member of the Pioneer Team today to discuss your recruitment and talent needs.

Tech Talent Salary Guide 2024
LEARN
Tom Meyer Joins Lockton Re As The New Head Of Specialty Division
Tom Meyer brings expertise to Lockton Re as Head of Specialty.
READ MORE
LEARN
Lloyd's of London Reports 6.5% rise in 2024 premiums
Lloyd's of London reports a 6.5% rise in premiums for 2024.
READ MORE
LEARN
Gallagher Re Launches Cyber Risk Rating Index
New index reveals the true cost of cyber reinsurance in a volatile market
READ MORE
LEARN
Lloyd’s CoR well below 90% despite high nat cat activity in 2024
ICMR Forecasts Lloyd’s CoR Below 90% Despite 2024 Catastrophes
READ MORE
LEARN
Emma Woolley appointed CEO of AIG’s Talbot
Talbot Underwriting Names Emma Woolley as CEO, Effective March 2025.
READ MORE
LEARN
Beazley posts record profit for 2024
Beazley Reports Record $1.42B Profit for 2024, Driven by 10% Growth in Premiums
READ MORE
LEARN
The Future of Data Contracting
Key skills that will dominate
READ MORE
LEARN
Hiscox: Profit hits record at Lloyd’s of London insurer
Hiscox, a Lloyd’s of London insurer, posted a record profit for 2024.
READ MORE
LEARN
Lockton Re Cyber Report: Cyber Risk Pools and Public Private Partnership
Time to dive in?
READ MORE
LEARN
2025: the year GenAI delivers real value to the re/insurance industry
2025: The Year GenAI Delivers Real Value in Re/Insurance.
READ MORE
LEARN
Poll suggests re/insurers to prioritise AI and machine learning
As 2025 unfolds, 55% of re/insurers prioritize AI & ML, a Reinsurance News poll finds.
READ MORE
LEARN
Re/insurance broker Howden in talks to buy Risk Strategies
Howden is reportedly in talks to acquire US insurance broker Risk Strategies.
READ MORE