Job prospects Insurance Broker in the Montréal Region

Over the past few years (2021-2023), there was a labour shortage for Insurance agents and brokers in the Montréal Region. There were more job openings than workers available to fill them in this occupation.

Source Labour Market Information | Recent Trends Methodology

The employment outlook will be good for Insurance agents and brokers (NOC 63100) in the census metropolitan area of Montréal for the 2024-2026 period.

The following factors contributed to this outlook:

• Employment growth will lead to several new positions.
• A moderate number of positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

Employment trends are dependent on various factors related to the finance and insurance industries.

In recent years, insurance companies have invested in diversifying their services to offer personalized coverage for businesses and individuals. In addition, investments in electronic platforms are facilitating access to their products. The growth of the population is also expected to result in increased demand for various insurance products in the coming years. 

The ongoing digital transformation and the tendency of financial planners to sell insurance plans could limit the scope of factors that are beneficial for this occupational group.

While the employment outlook will be good for this occupational group at the provincial level, it will be limited in Côte-Nord and Nord-du-Québec.

Here are some key facts about Insurance agents and brokers in the census metropolitan area of Montréal:

• Approximately 8,070 people worked in this occupation in May 2021.

Source Labour Market Information | Prospects Methodology