Committed to delivering outstanding insurance for Banks
Banks are the lifeblood
of the economy
Providing critical infrastructure and the liquidity of the financial markets,
Banks don’t just represent economies but they represent the driving force
to societies drive and delivery.
Partner with Insurers
Elmore Credit Insurance
Credit (or non-payment) insurance covers the inability of the borrower, for whatever reason, to repay monies due under a lending agreement. Credit Insurance allows a Bank to:
- Offer customers larger facilities
- Avoid syndication
- capital relief
Elmore Bankers Insurance
Reliance on networks, systems, data, cloud technology, and outsourced service providers exposes a Bank to an array of risks. Changes to regulation, perception to corporate responsibility and increased media attention towards Bankers have focused the importance of effective operational, financial and technology risk management.
The Elmore Bankers insurance solution:
Banks Insurance Explained
With Technology being the differentiating factor for Banks, and regulation the opportunity to deliver innovative products and services to its customers, the backing of experienced Insurers behind a Bank it can trade knowing their balance sheet has critical support should an operational or credit loss event occur.
Banks are continuing to pioneer new ways in which services can be delivered. The engagement of its customers, the reputation it maintains and grows and the risks of operating a bank in todays fast paced environment means at even the most benign times, challenges can post them-selves unexpectantly.
Managing operational and credit risk exposures is one part of an effective risk management programme, Banks partnership with (re)insurers can provide catastrophe balance sheet protection.
Elmore Bankers Insurance –
The following cover can be combined in one policy or offered in separate policies:
Directors & Officers
- Claims by regulators
- Claims by shareholders
- Claims by employees
- Claims by other stakeholders
- Claims by customers
- Claims for failure of service
- Claims for failure of technology
- Mitigation costs to put right
Cyber & Crime
- Event management
- Reputation management
- Financial loss incl. fines
- Cyber liability
Office & Employee
- Property and equipment
- Employers liability
- Public liability
- Travel insurance
Multi-National Bankers Programme Management
In the scale up of a FinTech, rapid global expansion requires a coordinated approach to Insurance acquisition. Elmore’s network of established insurance partners around the world allows for a Global Insurance Programme. With the requirement to have local policies while being coordinated by one centralised function it can allow better compliance and visibility into the global requirements.
MULTI-NATIONAL INSURANCE PROGRAMMES
With a captive audience and engaged users why not consider cross selling insurance solutions along side the Bankers offering adding value to customers, differentiating your offering and brining a new income stream for the business.
- Add value
- Differentiate offering
- Additional revenue source
Elmore delivers bespoke and innovative programmes for both consumer and business users, get in touch to learn more.
PARTNER WITH INSURERS
For Banks to partner successfully with it’s key stakeholders, it must appreciate the breadth and depth of financial and technology risk management. In particular, the Bank must understand the operational risk considerations that a stakeholder will need to consider before engaging them.
By following best practice controls and processes required to onboard insurance it can improves the overall governance and acceptance of a Bank. The diagram represents the benefits of mitigating and reducing risk to optimise risk transfer through insurance: