Ireland - An international Hub of Insurance Innovation
This is an exciting time for Insurtech in Ireland. Ireland is a global centre for servicing the insurance industry. Our insurance market is the fifth largest in the EU and our reinsurance market is the second largest. We are now home to all the top 10 global software companies as well as the top 10 Born on the Internet companies.
InsTech.ie partners with IDA Ireland to support inward investment.
Ireland’s Insurance Sector
180+ (re)insurers
9 out of the top 10 Global Reinsurers
8 out of 10 Global Insurers
The EU’s largest cross-border exporter of insurance services
35,000 insurance professionals
The world’s highest density of actuaries per capita
Source: IDA Ireland
Why 1,800 multinationals have chosen to set up operations in Ireland
People
One of the youngest, most highly skilled populations in the EU (62.3% of 25 to 34 year olds with 3rd level attainment)
Highest proportion of STEM graduates per capita in the EU
6th most international workforce in Europe
Only country in the EU with unlimited access to both the EU and UK labour markets
Strategic Position
Only English-speaking country in the EU
Well situated to serve both European and North American markets
Unwavering commitment to EU membership
Full access to the single market through EU regulatory passporting
Business Environment
Competitive corporate tax regime (12.5/15%)
30% R&D tax credit
Attractive grant supports from IDA Ireland
Fast and flexible employment permit regime
Case Studies
Irish location in Dublin, Shannon, Cork and Athlone
Employing 2,000+
AXA has 8 entities in Ireland including 7 providing products & services internationally. These include AXA XL’s EMEA & APAC headquarters and the main technology hub for AXA Partners’ Credit & Lifestyle protection business.
Irish location in Dublin, Shannon, Cork and Athlone
Employing 65+
In 2020, Companjon, the multi award winning insurtech that specialises in developing and underwriting digital embedded insurance, selected Dublin
as its global headquarters. From designing, building and underwriting insurance products, to tech integration and customer service handling, Companjon manages the entire insurance lifecycle for its partners from Ireland.
Irish location in Dublin, Cork and Galway
Employing 1,000+
Marsh McLennan has multiple entities in Ireland including its primary global innovation centre, based in Dublin, from where it builds and deploys next generation data and technology solutions, including its core generative AI tools.
Irish location in Dublin
Employing 65+
Hannover Re has been present in Ireland since 1992 and is authorised by the Central Bank of Ireland to conduct both life and non-life reinsurance business. It has recently established an R&D function in Ireland, where it is developing bespoke technology solutions to be rolled out across the group in the area of automated underwriting.
Irish location in Waterford
Employing 550+
Sun Life Financials’ technology and operations centre in Waterford fulfils a number of global functions including Software Development, Data Analytics, Applications Development, Multilingual IT & Customer Support and Life Annuities Claims Processing.
Source: IDA Ireland