Introduction
Digital innovation is transforming financial services across the world. New technology and distribution methods are offering customers faster, individually tailored and more accessible financial products.
Global investment in fintech reached $113.7 billion, with over 4,500 fintech deals taking place.
Introduction
Digital innovation is transforming financial services across the world. New technology and distribution methods are offering customers faster, individually tailored and more accessible financial products.
Global investment in fintech reached $113.7 billion, with over 4,500 fintech deals taking place.
In this guide you will learn:
What is fintech?
Fintechs are technology-led financial services companies which provide consumers and businesses with innovative tools and products to manage and control their money, whether it be app-based banking, digital lending, investment platforms, trading platforms or money transfer services.
Key exposures for fintech
Fintech businesses have a unique combination of exposures that don’t fit the typical financial institution (FI). These risks include the ever-evolving regulatory environment, technology failure, cybercrime and more.
The need for bespoke insurance
Understanding the unique exposures faced by fintech businesses as they continue to innovate is key to ensuring the right coverage.
Claims examples
A few claims examples involving theft of funds, technology failure, sub-contractor vicarious liability, IP infringement and more.
Topics explored in this whitepaper
What is fintech?
Fintechs are technology-led financial services companies which provide consumers and businesses with innovative tools and products to manage and control their money, whether it be app-based banking, digital lending, investment platforms, trading platforms or money transfer services.
Key exposures for fintech
Fintech businesses have a unique combination of exposures that don’t fit the typical financial institution (FI). These risks include the ever-evolving regulatory environment, technology failure, cybercrime and more.
The need for bespoke insurance
Understanding the unique exposures faced by fintech businesses as they continue to innovate is key to ensuring the right coverage.
Claims examples
A few claims examples involving theft of funds, technology failure, sub-contractor vicarious liability, IP infringement and more.
Protect your fintech future with tailored insurance
As technology becomes an increasingly integral part of the global financial infrastructure, fintech businesses have a unique combination of exposures that aren’t relevant to traditional financial institutions (FI) and the policies they buy. With this in mind, CFC is taking a modernized approach for fintech businesses. It is now crucial for brokers to advise clients on potential pitfalls in standard insurance policies and source policies tailored to their unique needs.
Protect your fintech future with tailored insurance
As technology becomes an increasingly integral part of the global financial infrastructure, fintech businesses have a unique combination of exposures that aren’t relevant to traditional financial institutions (FI) and the policies they buy. With this in mind, CFC is taking a modernized approach for fintech businesses. It is now crucial for brokers to advise clients on potential pitfalls in standard insurance policies and source policies tailored to their unique needs.
© 2024 CFC. All rights reserved.
© 2024 CFC. All rights reserved.