US
Insurers in Australia have high standards when it comes to recruiting foreign nationals, but there are still strong pockets of demand for international talent.
It is generally more difficult than before the GFC for overseas candidates to find insurance work in Australia. “These days, when firms apply for 457 visas, they usually only sponsor exceptionally good candidates,” says Philip O’Sullivan, managing director, Callaways.
When insurers started hiring again during the latter half of the GFC, they discovered many high calibre local candidates in the market, which reduced the need for foreign nationals, he adds.
Employers are also becoming less keen on candidates with 417 Working Holiday Visas. “In the past a 417 would get you a foot in the door. You’d have a six-month contract and then you’d be offered a permanent job because firms were reluctant to go back out to market and recruit the role again. It’s not so easy now for the candidate,” says O’Sullivan.
Highlights
But he reckons there are roles where overseas job seekers are in demand, including actuaries and forensic accountants – “back-office specialist positions where you need the very best people”.
Jane McNeill, director of Hays Insurance, adds: “Firms are open to hiring foreign candidates with relevant experience, particularly in life claims assessment, with a number of people from the UK placed in roles. The skill set is fairly similar from country to country in relation to claims assessment, actuarial and underwriting.”
As a rule, global insurance firms and the big four reinsurers are more keen on international experience than local generalist insurers, with both foreigners and Australians who have worked abroad on their radar.
“The view in Australia is that people with overseas experience have a greater technical understanding. For senior positions at these firms, a candidates’ career history follows the same global path as a foreign diplomat,” says O’Sullivan.
From the little searching that I have done in the Australia market, there are difficulties for internationals, specifically Americans, in gaining front-office positions. I have been looking at smaller firms, so larger firms may be more willing to take on the risk of an international applicant.