Ireland’s insurtech sector grows to 120+ companies as Foundry opens Cohort 2

Applications have officially opened for the second cohort of the InsTech.ie Foundry following the success of its inaugural programme, which has already helped participating start-ups secure international recognition, commercial partnerships, customer validation and significant business growth.

Delivered by InsTech.ie in partnership with Furthr, the Foundry was established to position Ireland as a leading testbed for insurance innovation by supporting ambitious founders developing technologies capable of transforming the insurance industry. Through a structured programme combining expert mentoring, industry engagement and practical commercial support, the initiative connects entrepreneurs directly with leading insurers and industry organisations including Allianz, Aviva, AXA, FBD, Irish Life and Canada Life, alongside brokers, investors and experienced founders.

The first Foundry cohort attracted more than 30 applications, with ten companies selected to participate. The cohort forms part of a rapidly growing Irish insurtech ecosystem, with InsTech.ie now tracking more than 120 Irish insurtech companies and bringing together 23 insurance industry members. By connecting founders directly with established insurers, the Foundry is helping bridge Ireland’s technology and insurance sectors and create new pathways for collaboration and commercial growth.

Among the programme’s success stories is Solvera Underwriting, founded by former AXA XL Country Head David Gallagher and former Hiscox Europe Chief Underwriting Officer Stuart Middleton. Solvera has developed an innovative parametric insurance product providing a “sunshine guarantee” for solar installations, helping remove uncertainty around renewable energy investment. The company has already received positive feedback from installers across Ireland and the UK and is now preparing to commercialise the product more widely.

Another standout participant, ITUS Secure Technologies, has continued its rapid growth following the programme. The company was recently selected as one of just 20 companies worldwide to present at Lloyd’s Lab Accelerator Pitch Day after being chosen from a record 220 international applicants. The company is now participating in the current Lloyd’s Lab Accelerator programme, providing significant international exposure and direct access to global insurance leaders and potential partners.

The inaugural cohort also included Finerty, Halo, Protostars AI, Suredocs, Amethyst Care, BlueDot, ICE ID and Regzact, with founders tackling challenges ranging from pension automation and cyber resilience to AI-powered eldercare, ESG reporting, claims management and regulatory compliance.

The Foundry programme combines eight in-person sessions with six intensive learning modules delivered between September and April. Founders receive practical support covering opportunity validation, value proposition development, product design, business modelling, financing, commercialisation and investment readiness before presenting to insurers, investors and industry leaders at the Foundry Showcase Day.

Gary Leyden, CEO of InsTech.ie, said, “The success of our first Foundry cohort has demonstrated both the strength of insurance innovation emerging in Ireland and the value of bringing founders together with the people who can help accelerate their businesses. We’ve seen founders validate products, build commercial relationships and gain exposure to industry decision-makers in a relatively short period. As applications open for Cohort 2, we’re looking for ambitious founders who want to solve real challenges facing the insurance sector and scale their businesses with the support of Ireland’s insurance ecosystem.”

Dr Clare Ryan, Founder and CEO, ITUS Secure Technologies said, “The Foundry gave us access to experienced mentors and direct engagement with insurers and industry experts who understood both the challenges and opportunities facing our business. The programme helped us refine our proposition, expand our network and accelerate our commercial journey. The relationships we built through the programme have continued beyond the cohort and have supported the next stage of our growth.”

Applications for Cohort 2 are now open to founders developing products, services and technologies capable of improving every stage of the insurance value chain. The programme is designed to support both first-time founders and experienced entrepreneurs through direct access to industry mentors, insurers, investors and the wider InsTech.ie community.

Applications will close on August 5th, with founder interviews taking place during August ahead of the programme commencing in September. The second cohort will once again be delivered in partnership with Furthr and hosted at the FINEOS offices in Dublin.

Building on the momentum of its inaugural programme, InsTech.ie is now inviting applications from the next generation of founders developing innovative solutions for the insurance industry.

Founders interested in applying for the InsTech.ie Foundry Cohort 2 programme can submit their applications via the InsTech.ie website.

A podcast with Gary Leyden, CEO of InsTech.ie will be published next week.

About InsTech.ie

InsTech.ie is backed by a powerful coalition of founding members including AA, Allianz, Aviva, Axa, FBD, Irish Life, VHI, Laya, William Fry, KPMG, RSA/123.ie, CNP Santander, Greenlight Re, Greenval, and Ayvens. InsTech.ie connects startups, insurers, investors, and policymakers to create a collaborative ecosystem that accelerates growth, supports emerging technologies, and drives international partnerships.

Led by CEO Gary Leyden, InsTech.ie supports incumbent insurers on their transformation journeys while helping Irish insurtechs scale globally. Key initiatives include the Irish Insurtech Map and the Foundry pre-accelerator programme. Its mission is to foster innovation, unlock scale-up potential, and position Irish insurtech as a world-leading cluster of digital insurance excellence.

For more information, visit www.InsTech.ie

A podcast with Gary Leyden was published yesterday and can be heard here.

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