GARY OWENS, the former chief executive of Hibernian Insurance, has teamed up with Pat Byrne, the CityJet founder, to set up an insurance intermediary aimed at brokers and companies wishing to offer cover to employees.
InsureForSure, the new company, will allow subscribing brokers to compare various rates for different types of cover online. Once an insurance package is chosen, all processing is handled online. InsureForSure hopes to put through sufficient cover to avail of keener rates from insurance companies, with any savings shared between brokers and the company.
Owens said: “The regulatory environment in Ireland is going to push people to shop around, and the technology we have developed allows them to do that easily.”
Owens left Hibernian Insurance, the general insurance arm of Hibernian Group last year, having worked for Ireland’s largest general insurer for nine years.
Byrne was once one of the most high-profile business people in Ireland. Having sold his share in Savings & Investment, a financial brokerage firm, to Woodchester, he set up CityJet, primarily to fly business passengers between Dublin and London City airport. After eight years in which it was profitable for only one month, CityJet was sold to Air France.
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Byrne worked for a while with Vision Consulting before setting up Rainmaker, a management consulting company, which Owens has since joined.
InsureForSure will make its unbranded technology available to individual companies which can then sell insurance, under their own brand name, to employees, clients or any other target group.