FinTech Insurance
The Global Leader in arranging FinTech Insurance
From Start-up to Scale-up and beyond
FinTech is the future
Pioneering innovation, disrupting the norms, a FinTech needs to trade knowing its business is suitably protected.
Elmore delivers bespoke, focused FinTech Insurance for each type of FinTech
Challenger Banks
Insurance
E-Money
Insurance
AISPs/PISPs
Insurance
Payments
Insurance
Alternative Finance
Insurance
InsurTech
Insurance
Blockchain
Insurance
Wealth Platforms
Insurance
Trading Platforms
Insurance
Lending Platforms
Insurance
Peer 2 Peer Platform’s
Insurance
Aggregator Platforms
Insurance
PSD2
Insurance
Sharing Economy
Insurance
Crypto Exchanges
Insurance
Crypto Wallets
Insurance
Elmore Fintech Insurance
Reliance on networks, systems, data, cloud technology, and outsourced service providers exposes a FinTech to an array of risks.
Changes to regulation, perception to corporate responsibility and increased media attention towards FinTechs have focused the importance of effective operational, financial and technology risk management.
The Elmore Fintech insurance solution
Identification of risk
Support in mitigating risk
Arranging risk transfer with FinTech Insurance
Claims Support and Response
Fintech Insurance Explained
With the backing of experienced Insurers behind a FinTech it can trade knowing their balance sheet has critical support should the unthinkable happen.
FinTechs are increasingly adopting and leveraging advanced technologies to deliver innovative financial products and services. While these innovative technologies present opportunities, they may also pose new sources of risks.
Elmore Fintech Insurance – Policy Coverage
The following cover can be combined in one policy or offered in separate policies:
Directors & Officers Liability
- Claims by regulators
- Claims by shareholders
- Claims by employees
- Claims by other stakeholders
Professional Indemnity Insurance (PII)
- Claims by customers
- Claims for failure of service
- Claims for failure of technology
- Mitigation costs to put right
Cyber & Crime
Insurance
- Event management
- Reputation management
- Financial loss incl. fines
- Cyber liability
Office & Employee Insurance
- Property and equipment
- Employers liability
- Public liability
- Travel insurance
Multi-National Fintech 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
Partner With Insurers
With a captive audience and engaged users why not consider cross selling insurance solutions along side the FinTech offering adding value to customers, differentiating your offering and brining a new income stream for the business. Elmore delivers bespoke and innovative programmes for both consumer and business users, gee in touch to learn more.
PARTNER WITH INSURERS
Fintech Risk Management
For a fintech to partner successfully with its key stakeholders, it must appreciate the breadth and depth of financial and technology risk management.
In particular, the fintech must understand the operational risks that a stakeholder needs to consider before engaging it.
Observing best practice controls and processes to onboard insurance can improve the overall governance and acceptance of a fintech.
The diagram represents the benefits of mitigating and reducing risk to optimise risk transfer through insurance.
Keeping Your Data Secure
We take cybersecurity very seriously and are one of the few practices in the insurance industry to certify with Cyber Essentials. These controls can significantly reduce the risk of unskilled, but widespread, cyberattacks.
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