Medtech Insurance from start-up, to scale-up and beyond
Groundbreaking advances in treatment and diagnostics, medical devices are now connected to the internet, and can transmit data to healthcare providers or patients remotely. This is enabling new forms of healthcare delivery and monitoring, but also brings new forms of risk. A Medtech needs to trade knowing its business is suitably protected. Elmore delivers bespoke, focused Medtech Insurance for each type of Medtech.
With the backing of experienced Insurers behind a Medtech it can trade knowing their balance sheet has critical support should the unthinkable happen.
Medtechs 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.
The following cover can be combined in one policy or offered in separate policies:
In the scale up of a Medtech, 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.
With a captive audience and engaged users why not consider cross selling insurance solutions along side the Medtech 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.
For a Medtech to partner successfully with it’s key stakeholders, it must appreciate the breadth and depth of financial and technology risk management.
In particular, the Medtech 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 Medtech.
The diagram represents the benefits of mitigating and reducing risk to optimise risk transfer through insurance:
Elmore experienced claims team is committed to meeting the highest standards of service and operational excellence. Seasoned professionals are aligned with each specialty product line and geography and consistently employ best practice standards. As needed, Elmore partner with specialised claims consultants to ensure that no matter how complex an Insurers claims may be, the proper technical expertise is employed to analyse and resolve the loss.
We take cyber security seriously and are one of the few in the insurance industry to certify with Cyber Essentials. Implementation of Cyber Essentials controls can significantly reduce the risk of prevalent but unskilled cyber-attack.