2. Insurance & Financial Services Cluster Shared Action for Growth Economic Summit & Outlook 2004 January 21, 2004

3. The IFS Cluster

4. January 21, 2004Shared Action for Growth3 IFS Cluster A formal structure for action –Collaboration and cooperation on issues that impact Connecticut’s business climate. –Consolidation, Convergence, Technological advancement, Product refinement and sophistication, Outsourcing Workforce Development is Critical Best People Best Companies Best Value

5. January 21, 2004Shared Action for Growth4 Workforce & Professional Development – World Class Insurance & Financial Services Workforce Addressing key needs and critical growth areas  Risk Management Skills  Core IFS function:  Underwriters, Claims Examiners - 7,220 employed in CT  Financial Analysts, Financial Advisors - 7,030 employed in CT  Actuarial - 820 employed in CT  Information Technology  24% of CT’s IT employment is in Finance, Insurance, & Real Estate  Highest concentration of any sector  Customer Service  3 rd highest expected job growth in Connecticut  20% growth anticipated 2000-2010  Nearly 800 annual openings

6. January 21, 2004Shared Action for Growth5 Addressing key needs and critical growth areas  Award of Department of Labor Grant  IFS Cluster and member companies awarded $1.3 million for technology training  IFS Industry Partnership with Academia  Enhanced UConn School of Business Risk Management program.  Created Applied Financial Mathematics Program at UConn  Created IT Education Center with Capital Community College, providing reduced cost training to IT professionals  Created “IFS Track”, enhancing community college Customer Service and Call Center training  Working with University of Hartford, Central Connecticut State University, Fairfield University, Trinity College Workforce & Professional Development – World Class Insurance & Financial Services Workforce

7. January 21, 2004Shared Action for Growth6 Moving Proactively on Issues of the Future  Entrepreneurial Support  Advance job growth by advancing entrepreneurial activity  Experts leaving traditional corporate employment  Young professionals desiring alternative careers  Tax and Regulatory Actions  Advance strength of existing firms and create superior competitive climate  IFS companies highly responsive to regulatory environment  Advance CT’s attractiveness to attract and retain IFS business  Promotion to Global IFS Industry  Proactive strategy to bring jobs to Connecticut  Present CT’s strengths to attract companies from other states and countries. Workforce & Professional Development – World Class Insurance & Financial Services Workforce

8. Insurance & Financial Services Cluster Bob Flynn Executive Director 860.525.4451 ext. 271 RFlynn@metrohartford.com IFS Center of Excellence – Workforce Development