Issue link: https://nebusinessmedia.uberflip.com/i/833859
2017 | Doing Business in Connecticut 47 Insurance & Financial Services W hen it comes to a critical mass of talent in the insurance market, Connecticut maintains its centuries-old leader- ship position by leveraging a powerful mix of deep indus- try savvy, forward-thinking educational outreach and a commitment to keeping pace with technology trends. Connecticut's market preeminence makes it a standard-bearer for the insurance industry, but it also makes it a leader when it comes to innovation and the ability to recognize and capitalize on technological, economic and educational disruption. Today, nearly 60,000 people are employed in Connecticut's insur- ance industry, a number that has remained steady despite dramatic economic changes in the overall economy and employment trends. at number also makes Connecticut the state with the greatest percentage of insurance industry employment per capita of any state in the United States. It's no wonder Connecticut is known as the insurance capital of the world. Still, changing times call for changing strategies for an indus- try that can be mistakenly perceived as staid. Staying at the top "Our ranking is No. 1 in insurance employment in the U.S., and we hold that title dearly," said Susan Winkler, executive director of the state's Insurance and Financial Service Cluster (IFS). "We don't want to lose that title in the digital age." Winkler said the most pressing challenge for the cluster, as well as the insurance industry itself, is to convince students, and especially young, high-school students, that a career in a hot field like technology doesn't necessarily mean working for a technology company. She said it's critical that the state and the industry give students the information they need to consider an insurance industry career before they commit to a college. To that end, the IFS cluster has been organizing an "actuarial boot camp" for the past nine years to get high school students familiar with the industry, its strengths and opportunities. More and more, that means presenting them with information about how the industry uses big data and analytics and other technology. "e challenge is the challenge we've had forever," Winkler said. "Insurance is not a first career choice. Financial services is a little dif- ferent, but working at a bank might not be the first choice for a college student either. On the flip side of that, the opportunities are exponen- tial. ese are no longer the IFS companies of the past. ey're working Continued on page 48 > PHOTO/SHUTTERSTOCK.COM