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Protean Risk launches exclusive fintech insurance product
Protean Risk, a specialist fintech insurance broker, has launched a new and comprehensive insurance product designed to target key operational risks impacting the sector – broadly categorised as theft, fraud, negligence, data compromise, and cyber-attacks – thus offering significantly more extensive protection than other insurance policies traditionally available.
By combining previously separate policies into one seamless policy, Protean also believes that pricing efficiencies can be achieved, especially given the enhanced protection it provides.
Tristan Sargeaunt, Director of Fintech and Payment Services, who spearheaded the development of the new product, stated “Traditional insurance solutions were never designed to cater for today’s fast growing and constantly evolving fintechs, resulting in gaps in coverage and uncertainty of policy response. Through working closely with our existing clients in the fintech and payment services sector we have created an innovative insurance solution which provides enhanced protection by taking a holistic approach to the key risks they face.”
Protean have been proactive in launching other ground-breaking products in 2018, including a unique policy designed to meet the requirements of the new Payment Services Regulations (PSD2) and also Protean Client Money Insurance, which protects investment funds not covered by traditional compensation schemes such as the FSCS.
Nathan Sewell, CEO, Protean Risk, said “We recognise the fintech industry as the fastest growing business sector in the world and as specialists in this area we are excited to launch a product that is tailor-made to combat a comprehensive range of risks that fintechs face. Our dedicated Fintech and Payment Services team, headed by Tristan, has a wealth of experience in building bespoke insurance solutions for fintechs and this product further demonstrates our credentials as leading insurance experts in this rapidly developing sector.”
For more information on Protean Fintech Insurance, visit www.proteanrisk.com/proteanfintechinsurance
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