We tailor insurance programs to manage risks at each stage of your business journey, offering essential protection and peace of mind. Our ongoing support ensures seamless growth and scalability.
“Fintech” is the amalgamation of “financial” and “technology,” encompassing the application of technology to provide various financial services and products. This includes sectors such as banking, insurance, and investing. On the other hand, “Insurtech” combines “insurance” and “technology” and signifies the utilisation of technological innovations to enhance efficiency and cost-effectiveness within the insurance industry.
For fintech companies, particularly those engaged in payments, the risk of fund theft is heightened due to innovative technologies. Consider a fintech/Insurtech insurance policy, which provides coverage for lost funds, regardless of whether the theft is committed by an employee or a third party.
Our Fintech and Insurtech Solutions includes tailored advice and policies, encompassing Professional Indemnity, Directors & Officers Liability, Crime, and Cyber Liability insurance.
Our convenient solution is adaptable to your specific needs, providing cover for defending allegations of professional negligence, damages, and settlements. It also includes protection for Directors from regulatory exposures and complies with relevant regulations such as PSD2 and MIPRU. Additionally, our policies cover costs related to data breaches or malicious cyber-attacks, with access to specialised providers to minimise their impact.
Yes, some clients may choose to include Fintech insurance as a contractual requirement to ensure additional protection and risk mitigation. In certain cases, industry regulators may deem Fintech insurance essential for compliance, even if it’s not a legal requirement.
While not legally required, Fintechs should still consider insurance due to potential contractual requirements set by clients or essential recommendations from industry regulators. It is advisable to assess the specific risks associated with your Fintech operations.