OUTsurance has applied for a short-term insurance license in Ireland, planning to enter that market in the first quarter of 2024. | News24_Business
Visser said OUTsurance's products are predominantly aimed at the middle class. SA only has about 7 million people in that category, making its target market in Ireland almost as big as it is at home.
Furthermore, there's well-established behaviour of shopping around for insurance, which has made many foreign insurance entrants thrive. Ireland's economy is growing faster than SA's, and the country has become an entry point for the UK to the European Union following Brexit. Also, being in the northern hemisphere, Ireland's weather cycle is less correlated to SA and Australia.
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