New Carolina: South Carolina's Council on Competitiveness

Champion

Alan Whelchel, Colonial Life

Website

www.its-sc.com

Overview/Mission

The Columbia Insurance Technology Services Cluster (iTs|SC) is a New Carolina cluster dedicated to promoting the Greater Columbia area's wealth of opportunities within the insurance technology sector.

The vision of  iTs|SC is to grow its 40 employers and nearly 15,000 employees into the largest, most dynamic, and most competitive insurance technology cluster in the world. 

The iTs|SC is dedicated to accomplishing five goals in achieving its mission of helping to increase the competitiveness of insurance technology in South Carolina:

1. Attracting and retaining high quality professionals with technical and/or insurance industry experience to the Greater Columbia area by promoting the advantages of living and working in the area
2. Assisting insurance technology companies to identify, grow, and source local talent by collaborating with the educational and workforce development community through curriculum development, internships, and student engagement activities
3. Creating a business and regulatory environment where insurance technology and services companies have a competitive edge by communicating the value of the industry to economic development, governmental, and higher education organizations throughout the state
4. Supporting innovation within the industry by establishing collaborations with statewide research institutions to help companies develop more competitive products and services
5. Promoting Columbia and South Carolina as a center of excellence in insurance technology and services to help companies attract both talent and new business opportunities

Why Columbia?

Columbia is home to a growing cluster of important entities to the insurance, technology, and services industry. The collaboration among the insurance technology cluster combined with the talent developed at the progressive research universities in South Carolina make Columbia a great place to do insurance business. Columbia is quickly becoming a talent magnet for innovative solutions providers in the insurance technology field from boutique software development firms to fortune 500 nationally recognized leaders.

It begins with talent, and it ends with a world class cluster, where innovation, collaboration, and a shared vision collide.    

Economic Impact 

• Total Economic Impact - $6.7 Billion
• Total Number Employed in Region - 14,900 (EST.)
• Average Salery $62,000
• Total Annual Sales - $4.9 Billion
• Direct Economic Impact - $4.2 Billion
• % Gross State Product - 2.5%
• Source - Business in Motion:  Insurance Technology  & Service South Carolina.  Read more here.

Reference Library

• American Risk & Insurance Association
• An Incomplete History of Insurance Technology in Columbia
  
• Innovation in Insurance
• Economic Impact of Insurance Technology on South Carolina
• Insurance & Technology Magazine
• Tech Decisions
• Insurance Technology Business Directory
• Business & Application Software Developers Association
• New Carolina Champion Eddie Jones and John Denise on the SC Business Review