Since reopening after Covid, team in Ireland has doubled in one year from 18 to 37

World Nomads is a fast-growing, specialist global travel insurance company. It is part of the nib Group, which provides health and medical insurance to more than 1.5 million Australian and New Zealand residents, and is Australia’s third-largest travel insurer and global distributor of travel insurance through its business nib Travel.

Ireland as a gateway to Europe

The company set up its European headquarters in Cork, in the southern region of Ireland, in November 2018. Already well established in both the US and Oceania, the company saw the Irish operation as holding a pivotal role in its global strategic playbook, as the company sees Europe as the heavyweight in the global travel insurance arena, with a 34.7% share of the travel insurance market. 

It considers Ireland as the ideal base for a gateway into the European market, because of its conducive business environment, skilled workforce, and well-developed financial and technological infrastructure. 

Creating a Managing General Agency as the cornerstone of its European presence, World Nomads / nib Travel Services could distribute and market travel insurance within Europe and also provide claims and insurance services directly to travellers. 

In 2022, after a temporary cessation of sales during the COVID-19 pandemic, World Nomads successfully re-entered the European travel insurance market. Since then, World Nomads more than doubled the size of its European team from 18 employees in early 2022 to 37 employees as of August 2023. 

R&D product focus at Irish operations

Its Ireland-based team focuses on R&D and product development, including the launch of a harmonised EU product that covers local conduct of business rules in four EU countries. The company also has several other opportunities in progress including new distribution channels and products. 
 

World Nomads in Ireland by the Numbers

• Chose Cork, Ireland for its European HQ in 2018
• Since reopening after Covid, team in Ireland has doubled in one year from 18 to 37
• Sees Ireland as a strategic foothold into Europe’s strong travel insurance market
• Ireland team focuses on R&D and product development