The initiative aims to ‘position Ireland as a leading testbed for insurance innovation by connecting emerging companies directly with insurers, industry experts, investors and experienced founders’.
12 Ireland-based insurance technology start-ups will participate in the second edition of InsTech.ie’s Foundry, a pre-accelerator programme run in partnership with Furthr, one of the country’s four Business Innovation Centres.
InsTech.ie is a national body that aims to connect start-ups, insurers, investors and policymakers to accelerate innovation and help Irish insurtech companies scale globally.
It is supported by 24 insurance industry members, tracks more than 120 Irish insurtech companies, and has eight innovation partnerships, including with IDA Ireland, KPMG and Enterprise Ireland.
The Foundry initiative is designed to create a direct route between established insurance expertise and younger or smaller companies developing technologies capable of shaping the insurance sector’s future, according to InsTech.ie.
The programme aims to “position Ireland as a leading testbed for insurance innovation by connecting emerging companies directly with insurers, industry experts, investors and experienced founders”, according to its operator.
“The first Foundry cohort showed what can happen when ambitious founders are given direct access to the insurance expertise, networks and decision-makers that can help turn promising ideas into commercially viable businesses,” said Gary Leyden, CEO of InsTech.ie.
“With cohort two, we want to build on that momentum and give another group of companies the opportunity to validate their solutions, develop meaningful industry relationships and accelerate their path to market.
“Ireland has a unique combination of insurance expertise and technology talent, and the Foundry is about bringing those two strengths together.”
The 12 selected companies, and their technological offerings, are:
Alteric AI
An AI orchestration layer for commercial brokerages to automate workflows across servicing, renewals, claims and new business.
Fairwrite
A start-up aiming to make life and protection insurance more inclusive for people with mental health conditions, disabilities or neurodivergence through a more individualised approach to underwriting.
Finch AI Systems/LitAgent
An explainable AI platform to support personal-injury reserving and settlement valuation, producing consistent, traceable assessments while keeping the final decision with the claims professional.
Global Nutrition Value
This company is creating a time-stamped evidence trail for food safety and compliance data with applications across underwriting, loss prevention, claims and product recalls.
Insurteam MGA
A start-up creating a solution that combines embedded travel insurance distribution with AI-enabled claims handling, allowing partners to offer cover at checkout and customers to manage claims through WhatsApp.
Maximo
A platform connecting pensions, tax and open banking to help consumers better understand and increase their pension contributions and access associated tax relief.
Model Library/Elliptic
This start-up is developing a climate-risk modelling platform to help insurers and other risk-transfer providers understand and quantify basis risk in parametric insurance.
RMI Agentic
A solution designed for managing risks created when autonomous AI agents transact on behalf of consumers.
SeatFair Technologies
This start-up is exploring how preference-pricing and optimisation technology could support complex reinsurance placements involving price, capacity, counterparties and terms.
TalkTerms AI/Swift Settle
An AI decision-support platform designed to help insurance professionals manage complex claims and complaints while retaining human oversight.
Vardus
A pre-send compliance platform that checks customer communications, identifies potential regulatory issues and provides greater oversight of recurring compliance risks.
Voxalytics
This start-up’s solution analyses broker-client calls to automate administration and identify portfolio-level signals around customer retention, churn, cross-sell and growth.
Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.
You must be logged in to post a comment Login