Irish InsurTech Kayna Wins Insurtech NY Award

Kayna, an Irish InsurTech outfit that developed a unique embedded insurance infrastructure, enabling distribution through vertical SaaS, has won the Carrier/Broker Competition for Global Early-Stage Insurtech at InsurTech NY’s Spring Conference held in New York.

The co-founding pair of Paul Prendergast, CEO and Peter Bermingham, CTO developed the solution to provide the technology orchestration layer between Insurance Carriers, Brokers and any Vertical SaaS platform to distribute insurance products. This novel technology-enabling layer is optimised for Embedded Insurance distribution.

Kayna’s No-Code embed integrates with Vertical SaaS platforms that manage the daily operations for thousands of SMB customers. It leverages the unique data of that platform to provide insurance products specific to the needs of each business. It then tracks the relevant changes to the data to enable real-time updates to insurance policies, which adapt continuously to changes within a business. This ensures that Carriers and Brokers are seamlessly serving SMBs with relevant policies based on real-time SMB data and in turn SMBs benefit from the provision of right-sized insurance cover.

Speaking of the win, Kayna CEO Paul Prendergast, commented that, “This award is a great validation of our technology and business model. We are focused on working with carriers and brokers to allow them to compete in an increasingly crowded SMB insurance sector. As an enabling-technology company, we provide an end-to-end service regardless of carrier and broker technology capability and our infrastructure works across any platform to use real-time SMB data. This is unique and transformative in terms of embedded insurance distribution and it fixes a massive problem of over and under insurance. We were honoured to compete with the brightest InsurTech talent in the world for this win which represents huge opportunity, giving us exposure to 10+ early-stage investors and insurance leaders, and the chance to present in front of 400+ InsurTech influencers live in New York.”

David Gritz , Managing Director InsurTech NY, in announcing the win stated that, “The Carrier/ Broker award is given to the startup that is seen to have the largest commercial potential. The award was developed to recognise the innovative early stage innovators in the space.”