Coleraine-based online insurance company MCLInsureTech is to create 10 new jobs in the next 6 months as part of a major expansion plan in Northern Ireland. A further 40 new jobs are envisaged over the next three to five years.
The team aims to replicate the success it has achieved in the last decade in the Republic of Ireland market.
MCLInsureTech operates three different insurance brands; Its4Women.ie, BoxyMo.ie and 25plus.ie, as well as an IT solutions company DotSys Ltd and a media buying business B Connected Media.
Staff numbers at the organisation have more than tripled over the last decade, up from 30 to 102.
The company, previously known as MCL Insurance, entered the Republic of Ireland market in 2009 and today handles over €80m of online car insurance policies in Ireland and owns approximately 5% of the Irish market.
Over the next five years MCLInsureTech aims to secure 5% to 10% of the online car insurance market in Northern Ireland. The company will launch the ‘Its4Women’ brand in Northern Ireland next week (Mon 4th Feb 2019).
Gary McClarty, Chief Executive, MCLInsureTech discusses:
“Within ten years MCLInsureTech has become one of Ireland’s leading online insurance companies. We initially launched our brands in the Irish market due to the fact that there was a bigger target audience and potential growth could be achieved more readily. It was a strategy that worked. Our unique online proposition has enabled us to capture around €80 million of the motor insurance market in the Republic which equates to nearly one in every twenty vehicles.”
Mr McClarty continues:
“We are thrilled to be announcing an ambitious expansion programme that will build our customer base in the Northern Ireland insurance market. The forthcoming launch of our flagship ‘Its4Women’ brand is a key step in this process and with the uncertainty surrounding Brexit it is an ideal time for us to bring our great value and convenient proposition to the Northern Ireland market.
“We are investing heavily in Northern Ireland to support the expansion and have already made a commitment of over £1million in advertising spend. Further investment in our IT and contact centre businesses is planned, which should deliver an additional 50 new jobs across a range of disciplines over the next 3 to 5 years. It’s a really exciting time for MCLInsureTech.”
So, what has made the business so successful? Mr McClarty explains:
“We are passionate about everything online and we are constantly embracing new ways of working to give customers the best possible online experience. We have the technological know-how and expertise to create innovative online loyalty services that will enhance the lives of customers who choose us as their online car insurance partner. We also market test our IT solutions in a real-time environment, enabling us to continuously improve the end result for both the consumer and business user.
“At the backend, our systems are designed to provide as much automation through the administrative process to increase efficiency and reduce errors. Our software solutions give us an edge in the competitive online insurance market.”
The company’s flagship brands are: www.its4women.ie which provides online insurance for women; www.25plus.ie offers online home, car, travel, health and property insurance for the over 25s; and www.boxymo.ie rewards better driving and offers younger drivers competitive insurance.
MCLInsureTech also own a software programming company DotSys Ltd which provides financial software solutions to the financial services industry and B Connected Media, an in-house media buying company.
Source: Company Press Release