In 2006, New Carolina and the Greater Columbia Chamber of Commerce were approached by a group of insurance technology companies, led by Columbia-based T.M. Floyd, to address how the industry could raise awareness for itself, strengthen its competitive position, and address workforce and talent development. Over the next two years, New Carolina worked with these companies to develop and build an economic development strategy around insurance technology and services based on Michael Porter's "cluster development" concept. In 2008, the cluster officially launched under the brand of iTs|SC: Columbia's Insurance Technology and Services Cluster.

Today, Insurance Technology and Services South Carolina (iTs|SC) is a talent-rich economic development cluster of businesses, educational institutions and industry professionals dedicated to expanding the Midlands of South Carolina as the global destination for insurance, insurance technology and insurance services.