Online insurer behind Its4women, 25Plus opens ‘Brexit-proof’ base in Swords
The Northern Ireland insurance firm behind brands Its4women, 25Plus and BoxyMo has opened a Swords office to "Brexit-proof" its business.
MCL InsureTech said it already has hired 24 of its planned 40 fulltime positions in the Swords operation to grow business on this side of the Border.
The company - which has served customers island-wide from its Coleraine base for the past decade - said it is switching support for its 90,000 Republic of Ireland-based customers to Swords after receiving regulatory approval from the Central Bank of Ireland.
MCL’s brands target specific sectors of the online insurance market. Its4women caters to female drivers and BoxyMo to younger drivers, while 25Plus offers a wider range of insurance products to older customers.
MCL said it opened a Swords base so "that it can easily manage its Irish customer base without the restriction of any Brexit-induced regulations.”
Currently no MCL brand markets itself for business in Britain or continental Europe.
But managing director Gary McClarty said the Swords operation will allow MCL’s brands to “have access to the 500 million people of the single market”.
“Although Brexit has created a lot of uncertainty in the insurance space, now that we are authorised by the Central Bank, there are exciting times ahead for our business,” he said. “We will be launching a range of new products and services that will hopefully benefit Swords and the wider area.”
MCL said the Swords expansion doesn’t affect its employment of 102 staff in Coleraine, where increased investment in IT and contact centre staff also is planned.
The firm launched Its4women in the Republic more than a decade ago. Last year it expanded that brand north of the Border with a goal of capturing 10pc of the Northern Ireland car insurance market by 2024.