30/01/2019

Coleraine Based Insurance Firm Announces Expansion & Recruitment Drive

An online insurance company based in Coleraine has announced plans to create 10 new jobs in the next six months as part of a major expansion plan.

MCL InsureTech hopes to create a further 50 jobs over the next three to five years as it aims to replicate its success over the last 10 years in the Republic of Ireland market.

The firm operates insurance brands Boxy.Mo.ie which offers competitive insurance to young drivers and rewards better driving and 25plus.ie which provides online home, car, travel, health and property cover for those over 25.

An IT solutions company and a media buying business also make up part of MCL InsureTech's portfolio.

The company is set to launch a new insurance brand, 'Its4Women' in NI next week and aims to secure up to 10% of the local online car insurance market over the next five years.
News Image
Chief Executive Gary McClarty said: "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 MCL InsureTech."

Staff numbers at the firm have tripled over the last decade from a team of just 30 to 102, while it solidified its position within Ireland's insurance market.

"Within ten years MCL InsureTech 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."



(JG/MH)

Related Northern Ireland Business News Stories
Click here for the latest headlines.

15 February 2019
Patisserie Valerie Buy Out Saves 60 NI Jobs
Two out of three Patisserie Valerie cake shops in Belfast have been saved after an Irish firm stepped in to buy-out the company. The purchase by Dublin-based Causeway Capital Partners of 96 branches of the café chain safeguards 60 jobs in Northern Ireland and around 2,000 positions UK-wide.
16 April 2014
Local Insurance Company Removes Common Van Insurance Obstacles
Local company, Find Insurance NI, is going that bit further to make life easier for their van insurance customers. Whether you use your van for business or pleasure, making sure your insurance policy is up to date is one of those necessary evils that you just can’t avoid. The team at Find Insurance NI understand that your time is precious.
08 December 2003
FSB welcomes report on Employers’ Liability Compulsory Insurance
The Federation of Small Businesses, welcoming a number of the proposals announced in the Government’s review of Employers’ Liability Compulsory Insurance (ELCI), have warned that there is still some way top go on this issue.
01 February 2019
Mercedes-Benz To Open £3M Showroom
Mercedes-Benz is set to open a new Approved Used car showroom in Boucher Crescent, Belfast, in a £3 million investment. The site, which is the first of its kind in the Mercedes UK network, will house over 100 Mercedes-Benz approved used vehicles.
16 November 2004
Job cuts hit CIS district office network
The Co-operative Insurance Society (CIS) is to close 106 regional offices with the loss of 900 jobs. Unions have said that many staff felt a "sense of anger and betrayal" after the company confirmed plans announced earlier this year to close its District Office network by the end of 2005.