Seven Insurtech Companies in Northern Ireland to Watch

Featuring Alchemy Technology, Applied Systems, Bluesona, Covernet, Liberty IT, MCLInsuretech and Seopa.

Using tech to tackle one of the oldest financial industries in the world is an exciting prospect, and the global insurance market is expected to expand exponentially according to a report by Grand View Research.

With the tech sector of Northern Ireland rising higher and faster than ever, some of the world’s top insurtech firms are based out of or have offices in the region, and the data sets and tech are only getting better with time.

In fact, a recent Treasury report commended Northern Ireland for being one of the pillars of fintech in the UK. Major US-based insurance marketplace Everquote is setting up a development centre in Northern Ireland as well.

These seven companies are some of the insurtech companies to watch in Belfast and beyond.

Alchemy Technology

Founded in late 2018, Alchemy Technology is a Derry-based firm that works with insurance companies to offer them “a full lifecycle approach to projects, from inception through implementation and data migration to run services”.

Though quiet for most of 2021, the company was ranked number 10 in Great Places to Work’s Best Workplaces in Tech (Medium) 2021 category, as well as placing 11th in the Best Workplaces for Women 2021 category.

Applied Systems

Though not a homegrown company, the US-born Applied Systems does have an office in Belfast. Since setting up shop in 1980, Applied has busied itself by selling insurance firms on its management system Applied Epic, which it claims is “the world’s most widely used management platform”.

In recent news, the insurtech announced that Northern Ireland’s Kerr Group Insurance had adopted Applied Epic as its management software of choice. Raw Material Cover, a specialist in waste & recycling insurance operating out of Cannock, has also begun using the software.


Belfast’s Bluesona has swiftly made a name for itself by providing “connected insurtech solutions that deter distracted driving and incentivise safe on road behaviour”.

The company is one of the youngest ones on the list, being founded in 2017, but has managed to carve a niche for itself as an insurtech firm focused on the automotive industry in that short time. The company’s central product is LoopMatics, a telematics solution designed to “record driver journeys, report events, prevent distractions and improve in-vehicle behaviour”.

In terms of headlines, Bluesona has been dormant for most of 2021. However, it did announce a partnership with Germany’s Bosch Connected Designs and Solutions in the middle of 2020.


Founded in 1995, Covernet is a provider of web-based insurance software solutions. Some of the major clients of this Coleraine-based firm include AXA Insurance, RSA Insurance Ireland and Benchmark Underwriting.

Covernet is also part of Prestige Insurance Holdings, who call themselves a “a group of insurance businesses delivering specialist products and services in broking, underwriting and insurtech throughout the UK and Ireland”.

Though staying out of the news for most of the year, the company announced in September that it had been ranked fifth in Great Places to Work’s Best Workplaces in Tech (Small) 2021 category.

Liberty IT

A subsidiary of American insurance giant Liberty Mutual Insurance, Liberty IT itself is a Belfast-grown company. Beginning in 1997, its main focus has been innovation in a variety of fields, from machine learning to cybersecurity to cloud engineering.

Liberty IT creates software, services and solutions for its parent company.

Most recently, Liberty IT commenced a major recruitment drive targeted toward students and graduates with 45 openings.


Originating in Coleraine, MCLInsureTech was incorporated in 2001 and cut its teeth creating insurance brands with which to test its IT solutions in a real-time environment. These brands include,, McClartys Insurance and

Despite largely focusing on B2C solutions, the company provides its solutions to other businesses. In 2021 news, the company recently won the “Excellence in Corporate Social Responsibility Award at Causeway Business Awards”.

However, the most relevant piece of news comes from the beginning of 2020, when the company created 40 jobs in Dublin and moved the entirety of its Irish operations to the area, citing concerns over potential Brexit regulations hindering them from retaining its Irish customers from the UK. The new Irish base, called Swords, operates separately from its main base in Coleraine, which is still very much up and running.


Getting its start in 2003, Seopa is a Belfast-based firm that has carved a niche for itself as a price comparison software developer in Northern Ireland. The firm offers a price comparison platform and customisable white label co-brand integrations.

Though making its name as a B2C developer, the company also partners with businesses in the financial services, insurance, energy and media industries to share the benefits of its price comparison technology.

It was listed as one of the winners of the “Ireland’s Best Managed Companies Award” by Deloitte Ireland for 2021. The company also revived its scholarship programme for higher education in Northern Ireland in September 2021, designed to attract students from outside the world of fintech.

This is the fourth in a series on tech companies in the region.

Check out ‘Seven Cybersecurity Companies in Northern Ireland to Watch’ here.

Read about ‘Five Data Companies in Northern Ireland to Watch’ here.

Learn about ‘Seven Fintech Companies in Northern Ireland to Watch’ here.

Zephin Livingston
Zephin Livingston
Zephin Livingston is a content writer for eWeek, eWeek UK, IT Business Edge, and SoftwarePundit with years of experience in multiple fields including cybersecurity, tech, cultural criticism, and media literacy. They're currently based out of Seattle.
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