The insurance technology and services industry in Columbia, S.C., has generated an increase in total insurance employment nationwide, reaching 15,000 with an average salary of $62,000.
“The insurance tech industry has been growing consistently in South Carolina since the early 1970s because we have a deep talent pool of experienced insurance technology professionals that include business analysts, programmers and project managers,” said Eddie Jones, senior manager of Accenture Software for P&C Insurance, told INN.
Many insurers and insurance and technology providers, including BlueCross BlueShield of South Carolina, Colonial Life, Advanced Automation Consulting, Aflac, TM Floyd, DP Professionals, StoneRiver, Seibels, EagleEye Analytics, Duck Creek Technologies, Dovetail Insurance and Trumbell Services, have a presence in South Carolina.
The industry has more than 1,000 career opportunities and a direct economic impact of $6.7 billion per year in South Carolina alone and more than $4.9 billion in annual sales, according to Accenture’s “Business in Motion” report about insurance and technology services in South Carolina.
Founded in 2008, Insurance Technology and Services South Carolina (iTs|SC) is a New Carolina cluster dedicated to promoting the Greater Columbia area’s wealth of opportunities within the insurance technology and services industry.
“The industry in Columbia has grown through existing companies opening up additional offices and start-up companies locating here. In insurance and insurance technology, there are several important clusters around the country and it is certainly likely that additional clusters will develop,” said Jones who is also chair of iTs|SC.
According to iTs|SC other specific economic clusters of insurance and insurance technology services include:
• Columbus, Ohio
• Des Moines, Iowa
• Hartford, Conn.
A majority of firms reported they either anticipate sales growth over the next year or hiring to fill an estimated 1,200 open positions in Columbia insurance technology and services firms.
“The industry has an impact on any place that an insurance company is located. If modern technology helps an insurance company be successful, it stands to reason that they will grow and increase hiring nationwide,” said Jones.
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