Lending Platforms Insurance

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5 Insurance considerations for firms operating under PSD2

Elmore Lending Platforms 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 Lending Platforms 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

SUBSCREVA

Lending Platforms Insurance Explained

Elmore has carefully designed an Lending Platforms 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 Lending Platforms 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 Lending Platforms 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.

IMPROVE OPERATIONAL RISK

Lending Platforms 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.

Elmore Insurance Brokers Limited (Elmore) is a company incorporated in England and Wales with registration number 09548115. Elmore is a Lloyd’s Broker and authorised and regulated by the Financial Conduct Authority – Firm Reference Number 955112.

Elmore, Lda is a company incorporated in Portugal with registration number NIF 516116363 and develops its activity with CAE 66220 – insurance intermediaries activities. Elmore, Lda is a Lloyd’s Broker and is authorised and regulated by the ASF – 420564777. Elmore, Lda is a Subsidiary of Elmore.