Setanta Insurance sells a policy every 15 minutes

by Richard Kilner

Story link: Setanta Insurance sells a policy every 15 minutes

Setanta Insurance is the fastest growing vehicle insurer in Ireland, selling an average of one insurance policy every 15 minutes since it was established two years ago.

Setanta’s written premiums exceed €35m, and it presently has more than 65,000 policyholders.

In July Setanta forecast it would hit 100,000 policyholders by the end of the year.

At the time the firm, based in Dublin and Ireland, had 45,000 policyholders and €25m of written premiums; both figures have since increased by around 40%.

The firm has cited the decision to sell policies only via brokers, rather than directly to customers, as one of the keys to its rapid success.

Chairman and CEO Mike Matthews has said that the firm’s ability to grow quickly despite recession is a sign of the value added service on offer.

One of the feathers in Setanta Insurance’s cap is its cutting-edge IT system, which includes an innovative full cycle online service capable of generating quotes in seconds, a facility which has proven hugely popular with brokers.

Matthews went on to say that the firm aimed to continue its recent success by offering competitive commercial and private vehicle policies coupled with simple administration and no hidden costs to the policyholder.