Kayna, a fast-growing InsurTech based in Cork, has announced plans to create 13 new jobs as it prepares for a major push into the UK and US insurance markets.
The expansion was revealed during a high-profile visit from Minister of State for Financial Services, Credit Unions and Insurance, Robert Troy, who met with the firm’s leadership to discuss innovation and government support for the tech sector.
Founded by seasoned entrepreneurs Paul Prendergast and Peter Bermingham, Kayna is focused on embedding insurance directly into the digital tools used by SMEs in sectors such as construction, hospitality, and legal services. The platform aims to tackle a long-standing issue in the insurance market—many small businesses remain uninsured or underinsured, particularly in the US, where 40% of SMEs have no insurance coverage at all, Kayna said.
Kayna CEO Paul Prendergast outlined the company’s ambitious vision for the future. “The opportunity is huge. Embedded insurance is forecast to account for 15% of the global insurance market, worth $1.5trn, within a decade. Kayna’s goal is to lead from the front, and to do so from Cork,” he said.
Minister Troy, who visited Kayna’s headquarters, commended the company’s achievements and its role in Ireland’s InsurTech ecosystem. “Kayna is a real success story, and represents the growing environment for InsurTech innovation in Ireland. I congratulate them on their plans to hire new staff and expand further into more markets,” he said. He also reaffirmed the government’s commitment to maintaining Ireland’s status as a competitive hub for financial services innovation.
Launched in 2021, Kayna is the third successful venture by Prendergast and Bermingham. The startup is backed by €1m in funding and has secured a strategic partnership with global insurance broker Willis Towers Watson. This collaboration will support Kayna’s international scaling efforts, especially in the UK and US.
As part of its expansion, Kayna is now recruiting software engineers and business development professionals. Despite its global ambitions, the company remains firmly rooted in Cork—a city that Prendergast credits as instrumental in their entrepreneurial journey.
Prendergast, “We’ve always believed in building from Cork. Over the years, we’ve launched and scaled three InsurTech companies here with invaluable support from EnterpriseIreland. 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.”
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