Supporting Growth in the Technology and MedTech Sectors
Tech companies are vital to the Irish economy. Ireland is home to 16 of the top 20 global tech companies and 14 of the top 15 MedTech companies, according to IDA Ireland. Being the only native English-speaking Eurozone country and the fastest growing economy in the region only helps Ireland’s tech sector.
But alongside that growth comes complex, increasingly sophisticated risk. For this reason, these companies demand more than just broad cover – they need tailored protection.
“A one-size-fits-all approach doesn’t work for tech and medtech companies,” said Craig Mounser, practice leader for Med Tech & Life Science at Travelers Europe. “With each client, we get the full picture of the business so we can design protection around their specific risks. Our expertise and willingness to be flexible ensures the company gets the bespoke protection it requires.”
Travelers has applied this approach with success in the sector – and often under tight timelines. Here is an overview of recent business wins:
Tailored protection for a biotech innovator
The client, a global biotechnology company, researches and develops therapeutic products aimed at cancer treatment. They rely on suppliers in over 20 countries for the manufacture of these products and needed risk protection that aligned with their operational complexity. Travelers arranged face-to-face conversations with the broker to zero in on the specific exposures across the business.
The resulting package integrated a broad range of cover – including Professional Indemnity, Cyber Liability, Public and Product Liability, Employers Liability, Property Damage, Business Interruption, and Spoilage insurance – all aligned with the client's needs. But speed also mattered. Travelers issued terms before competing markets, giving the broker and client time to make a confident, informed decision.
Balancing global strategy and local compliance for an IT company
When an IT services provider expanded into North America, their risk landscape changed overnight. Despite a strong turnover and operational sophistication, their existing cover needed to support the legal and regulatory diversity of their new markets.
Working with the broker, Travelers assessed how the company’s work processes and infrastructure influenced risk. The result was an updated insurance programme with a globally coordinated and locally compliant structure that supported operations across more than 10 countries.
Delivering under pressure for a software company
Sometimes, delivering value means delivering fast. A global software developer with entities in Japan, North America, New Zealand and Singapore had insurance cover due for renewal in 10 working days – but there was a problem. Service issues with the incumbent motivated the broker to find an alternative, but the timeline left little room for error.
Travelers quickly mobilised, engaged with internal stakeholders, and maintained constant communication with the broker. The team didn’t compromise on quality but moved quickly to meet the deadline – and delivered protection that reflected the client's global structure and exposures. The result was an example of how disciplined internal coordination and responsiveness can overcome tight deadlines – all without sacrificing precision.
Supporting long-term growth for an engineering firm
A company specialising in electrical control panels for data centres approached renewal at a time of transition. They had plans to grow into the US market and needed a solution that could evolve with them.
Travelers proposed a combined policy structure and committed early to supporting the firm’s new US entity. Working within a short time frame, the team met the client, conducted a site survey, and issued terms before the incumbent. But more importantly, the approach helped the client feel prepared for what came next – not just protected in the moment.
What these cases reveal
Across these examples, some key actions helped Travelers win the business. Collaborative underwriting, operational insight, and the ability to deliver at speed – without compromising on quality or compliance – were all important. But perhaps more tellingly, the cases reflect a broader truth: insurance isn’t just a safety net. It supports business growth, especially when it’s tailored to a company’s strategic plans – and more tech companies are approaching it that way.
This article is provided for general informational purposes only. It does not, and it is not intended to, provide legal, technical or other professional advice, nor does it amend, or otherwise affect, the provisions or coverages of any insurance policy issued by Travelers.
Travelers operates through several underwriting entities in the UK and Europe. Please consult your policy documentation or visit our websites for full information.
