Insurance

Latest Insurance Industry Layoffs News & Data

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The Recent Largest Insurance Layoffs in 2024

June 2024

Company: AXA XL

Head Quarters: Stamford, Connecticut, United States

Number of People: ND

Axa XL, the property/casualty unit of France’s Axa SA, is restructuring its insurance underwriting operations in the Americas and confirmed it will lay off an undisclosed number of staff. In a statement, Axa XL said it has reorganized its operations into three business segments: large commercial, mid-market, and professional.

June 2024

Company: Loop

Head Quarters: Austin, Texas, United States

Number of People: 23

Mission-driven personal auto insurtech Loop has laid off the majority of its workforce in what is at least its third major round of job cuts. It parted ways with around 23 of its remaining 30 staff, which co-CEO Carey Anne Nadeau said was a “last ditch effort to save the business.”

May 2024

Company: Medica

Head Quarters: Minnetonka, Minnesota, United States

Number of People:  162

Medica, a nonprofit health insurance provider based in Minnetonka, has laid off around 162 employees, or approximately 6% of its workforce. “We made the difficult decision to reduce our workforce to align our resources with business priorities,” Medica shared in a statement.

March 2024

Company: Liberty Mutual

Head Quarters: Boston, Massachusetts, United States

Number of People: 250

Liberty Mutual has undertaken an additional restructuring involving eliminating around 250 positions firm-wide, impacting personal and commercial lines and claims, marketing, legal, and talent resource functions.

 

How can you benefit from Insurance Layoff Data?

Investment & Trading:

 Make informed decisions about buying, selling, or avoiding insurance company stocks based on the implications of job cuts for such companies’ profitability and market position.

Revenue Forecasting:

Layoffs typically result in changes in decision-making and budgets. Power your revenue forecasting models with the latest layoff data about your insurance company customers and prospects to predict revenue from them.

Identify Churn Risks:

Layoffs in your insurance customers are signals for downgrades and decreased usage and consumption of products and services. Identify customers’ churn signals proactively.

Market Research & Intelligence:

Use the latest layoff data in insurance companies to identify employment trends in the sector for market research and market intelligence activities.

Hiring/ Recruitment:

Hire talent from insurance companies that announced layoffs.

Why Subscribe to Intellizence Insurance Layoff Dataset?

AI-Powered Platform:

The Intellizence company intelligence platform is powered by cutting-edge Natural Language Processing and Machine Learning technologies that curate layoff data from multiple external sources. Every record is human-audited for data integrity.

Delivered in Near Real-time:

Intellizence monitors thousands of sources in real-time for any latest layoff announcements from various unstructured external sources and delivers layoff data in a structured format.

Comprehensive Coverage:

Intellizence curates the data from news, press wires, and WARN notices to ensure comprehensive coverage. The intellizence layoff dataset covers data from insurance and all other emerging and established industries.

Multiple Delivery Channels

The layoff news is delivered through multiple channels – Web Platform, Email Alerts, Slack, CRM, and ChatGPT Plugin. We offer API to power your applications and models with real-time layoff news and data. 

One-Stop Data Provider for Company Signals:

In addition to Layoff News & Data, Intellizence offers curated news on 80+ company signals and structured datasets – Startup Funding, Mergers & Acquisitions, Business Expansion, Major Hiring, CXO Appointments & Changes, and Data & Security Breaches.

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