Cork-based insurtech Kayna is to create 13 new jobs over the next two years as the company accelerates its expansion into the US and UK markets.
Founded by local entrepreneurs Paul Prendergast and Peter Bermingham and backed by €1 million in funding and a partnership with multinational broker Willis Towers Watson, Kayna delivers embedded insurance solutions that give small businesses to access tailored coverage directly through the software platforms they use daily.
Paul Prendergast, chief executive and co-founder, Kayna, said: “Embedded insurance is forecast to account for 15% of the global insurance market, worth $1.5 trillion, within a decade. Kayna’s goal is to lead from the front, and to do so from Cork.
“Over the years, we’ve launched and scaled three insurtech companies here with invaluable support from Enterprise Ireland. That backing combined with strong government policy has never been more important. If Ireland is to remain a tech hub of global relevance, we must continue to invest in the ecosystem that enables founders to take bold ideas to market quickly and effectively.”
Anna-Marie Turley, department manager for fintech & financial dervices, Enterprise Ireland, said: “Enterprise Ireland is committed to supporting Irish-owned businesses to start, compete, scale and connect, and this includes innovative companies like Kayna, who are providing cutting-edge solutions to global challenges.
“It is our long-term ambition that exporting Irish companies become the primary driver of the Irish economy, and we are proud to work with Paul and Peter as they scale their third business, having already secured a major partnership with WTW for the UK and US markets. We would like to congratulate them on this milestone, and wish them every success on their business journey.”
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