Insurance
Innovating in Michigan’s Insurance Hub
Nestled in the heart of the Great Lakes, Lansing’s strong existing insurance cluster, pipeline of industry-honed talent and InsurTech-focused entrepreneurial culture make it a safe haven and low-cost market for insurance industry leaders looking to invest in a bright future.
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Emma Bostwick
Vice President of Business Attraction
Affordable Market
The Lansing market is home to eight insurance company headquarters ranging from regional to global in scale and collectively responsible for over $30 billion in annual premiums/revenue.
Projected industry growth vs. 3.5% projected national growth (2023-2028)
Industry growth vs. 10% national average (2017-2023)
Lansing region's supply of jobs in Insurance Carriers vs. national average
Facility Cost Per Sq Foot
Industry average per sq. ft. cost for full-service lease rate for quality class A/B office space in 2023
| Region | Cost per Sq. Foot |
|---|---|
| Lansing | $23 |
| Houston | $29 |
| Chicago | $35 |
| Washington D.C | $52 |
| San Francisco | $61 |
| Boston | $62 |
| New York | $78 |
Projected industry growth vs. 3.5% projected national growth (2023-2028)
Industry growth vs. 10% national average (2017-2023)
The Lansing region’s insurance talent pipeline is bolstered by educational institutions building industry-honed programs.
Average Earnings Per Insurance Job
| Institution | Programs and Degrees |
|---|---|
| K-12 |
|
 | Computer Information & Technologies Program degrees & certificates:
Computer Science Insurance and Risk Management |
 |
|
 | Undergraduate Minor in Insurance and Risk Management Computer Science Degrees
Mathematics
Actuarial Science
|
Beyond the actual production and processing of various food products, digital transformation and technology-driven innovation is creating new opportunities across the agricultural value chain just like in many other industries. Our existing industry is no slouch in this area.
PROTO Accelerator is a new business accelerator platform offering equity investment, expert guidance, and connectivity with insurance industry leaders to technology startups geared toward insurance solutions.
Dewpoint
- Dynamic technology company that serves the insurance industry
- Expanded from 40 to 400 full time employees at their Lansing headquarters since 2010
- Focused on leveraging sound business practices, an enticing urban office environment, and company culture to build workforce.
Quest Software
- $1M investment into new equipment in 2014 resulting in 32 new jobs
- Manages claims for over 40 insurance companies, handling 4,000 incoming calls per day
- Growing to 250+ employees company wide
- Acquisition of Sircon Corp. in 2008
- Expansion into 36,000 sq. ft. office space in East Lansing in 2012
- 130 employees
