Cork InsurTech Kayna accelerates global growth with embedded insurance model

Kayna, a Cork-based InsurTech, has announced plans to create 13 new jobs as it expands into the US and UK insurance markets.

The news was shared during a visit from Robert Troy, Minister of State for Financial Services, who met with Kayna CEO Paul Prendergast to discuss the company’s international growth strategy and Ireland’s role as a hub for FinTech innovation.

Founded in 2021 by Paul Prendergast and Peter Bermingham, Kayna delivers embedded insurance solutions for small businesses in sectors such as construction, hospitality, and legal services. The platform enables SMEs to access tailored coverage directly through the software tools they already use. In the US alone, 40% of SMEs are uninsured, highlighting a significant market gap Kayna aims to address.

Prendergast said. “The opportunity is huge. Embedded insurance is forecast to account for 15pc 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.”

The company is backed by €1m in funding and has secured a major partnership with global broker Willis Towers Watson to support its expansion. Recruitment will focus on software engineers and business development staff, with all roles based in Cork.

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