Irish insurtech Kayna wins Insurtech NY award

Kayna, an Irish insurtech outfit, has won the Carrier/Broke Competition for Global Early-Stage Insurtech at InsurTech NY’s Spring Conference.

The insurtech enables distribution through vertical Software as a Service (SaaS) platforms.

The embedded insurance solution was developed by Co-Founders Paul Prendergast, CEO, and Peter Bermingham, CTO, to provide the technology orchestration layer between insurance carriers, brokers and any vertical SaaS platform to distribute insurance products.

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.

Prendergast said: “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.”