Ireland’s Insurtech Sector Sees Significant Growth
The technology sector in Ireland continues to expand, with the latest figures showing that there are now more than 120 companies working in the 'insurtech' industry. Insurtech refers to the use of technology to make insurance services more efficient and accessible for customers.
This growth is being tracked by InsTech.ie, an organization dedicated to supporting innovation within the insurance market. The group currently connects 23 major insurance industry members, helping them collaborate with new technology startups to improve their services.
To support this development, the industry has launched the second cohort of 'The Foundry.' This program is designed to help new companies grow by providing them with the necessary resources and professional guidance to succeed in a competitive market.
As these companies continue to develop new digital tools, experts believe this will lead to better insurance products for people across Ireland. By combining traditional insurance expertise with modern technology, the sector aims to make the process of buying and managing insurance faster and easier for everyone.