The arrival of a new competitor in the Irish insurance market has been welcomed, as insurance premiums continue to rise for consumers.Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Neale Richmond says, “First and foremost this is going to create hundreds of jobs but it's also going to offer Irish consumers a much needed new option when it comes to Insurance.
“Key to the action plan for insurance reform is competition, we need more providers coming into market and we need more providers providing extra policies.”, something new to the Irish insurance market, where customers can get 10% of their premiums back in cash into their bank accounts when they hold their OUTsurance policy claim-free for 3 years.
OUTsurance Ireland Chief Executive Peter Broome says, “We will change the way people think about car and home insurance, why shouldn’t they get something out of their insurance when they have not made a claim?” €160 million is set to be invested in Ireland by OUTsurance and the business aims to grow its workforce from 70 to 300 over three years.
OUTsurance, the new car insurance and home insurance provider in Ireland, has launched its first marketing campaign.