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5 Insurance considerations for firms operating under PSD2
Elmore AISPS/PISPS 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 AISPS/PISPS insurance solution:
Identification of risk – Elmore Review
Support in mitigating risk – Elmore Improve
Arranging risk transfer with challenger bank insurance – Online Application
Claims support and response – Insurance Claims
AISPS/PISPS Insurance Explained
Elmore has carefully designed an AISPS/PISPS insurance policy that provides all the key types of financial insurance within one policy. To ensure policy coverage is relevant and up-to-date, we have worked closely with key stakeholders to develop our PSD2 insurance solution and can guide firms on the implications of PSD2 for their business and which types of insurance they need.
To ensure policy coverage is kept up-to-date, Elmore has worked closely with key stakeholders to develop a solution that meets PSD2 insurance requirements and which guides firms on the implications of PSD2 for their business and the types of insurances they will need.
Elmore AISPS/PISPS Insurance – Policy Coverage
A cobertura abaixo poderá ser combinada numa só apólice ou disponibilizada em apólices separadas:
Responsabilidade Civil Profissional (PI)
- PSD2 PII Endorsement
- Reivindicações de clientes
- Claims for failure of regulated services
- Reivindicações por falha tecnológica
Directors & Officers Liability
- Reivindicações de reguladores
- Reivindicações de accionistas
- Reivindicações de funcionários
- Reivindicações de outras partes interessadas
Cyber & Crime
Seguros
- Gestão de eventos
- Gestão de reputação
- Perda financeira incluindo multas
- Responsabilidade Cyber
Seguro para Escritórios e Colaboradores
- Propriedade e equipamento
- Employers’ liability
- Responsabilidade pública
- Seguro de viagem
Multinational AISPS/PISPS Insurance Programme Management
As firms with PSD2 service offerings multiply and their businesses grow, they will need a clear and coordinated approach for insurance. Because Elmore has a worldwide network of insurance partners, it can provide a global insurance programme. To enable better compliance and visibility, local policies should be coordinated by a central function.
MULTINATIONAL INSURANCE PROGRAMMES
Partner With Insurers – Embedded Insurance
With a captive audience and engaged users, why not embed insurance in existing services and offer additional value to customers? This will differentiate your offering and create a new income stream for the business.
Elmore delivers bespoke and innovative programmes for both consumer and business users. Please contact us to learn more.
PARCERIA COM SEGURADORAS
Gestão de Risco Fintech
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.
AISPS/PISPS Insurance Claims
Elmore’s claims team is committed to the highest standards of service and operational excellence. Our experienced specialists focus on individual product lines and different geographies, and we always follow best practice and due diligence. When needed, we partner with specialised claims consultants to ensure that no matter how complex an insurer’s claims may be, the proper technical expertise is employed to analyse and resolve the loss.
learn about elmore claims
Mantenha os seus dados seguros
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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