Financial & Technological insurance
Fintech as a word and industry commenced as a result of the advancements made in the Internet Digital age. Fintech is ultimately the use of technology to enable banking and financial services.
Business Insurance Specialists Pty Ltd is a fintech insurance broker that is embracing what is happening , and is aware of the issues and risks involved.
The range of businesses in this sector are wide and varied and include:
- Digital Bank
- Crowd Sourced Funding
- Business Lending
- Peer to Peer Lending
- Micro Investing / Personal Finance
- Superannuation Services
- Roboadvice / Wealth Management
- Lending marketplaces
- B2B platforms
- P2P platforms
- Lending marketplaces
- International transaction platforms
- Trading platforms
- Online dealer platforms
- Payment Processing and Remittance
In order to obtain an insurance quote, and in keeping with the Digital age, we provide an on-line form which will allow us to gather all the preliminary information required. Following that, we will review and discuss the coverage with you.
Insurances for Fintech businesses
Being within the financial services sector, professional indemnity is essential insurance and, for most companies an ASIC compulsory regulatory requirement. In tandem with developing and obtaining a quality management team and potentially a board for governance purposes, Directors’ and Officers’ insurance is paramount, in order to protect your key people assets.
In being a FinTech businesses, you will have a combination of technology, money and personal data at their core of your operations, thus protection against cyber risks and theft are essential parts of a comprehensive cover.
The immediacy and importance of responding quickly and acting in the immediate aftermath of a cyber breach is critical. The first few days can be crucial for the actual survival of your company.
Business Insurance Specialists is able to provide a single FinTech policy which will deal with all these issues, and also incorporate a fully funded 24/7 Crisis Management capability through appropriate insurance for cyber breaches, whereby you can have experts in your corner assisting you if the worst was to happen.
As Fintech company start-ups operate in the Financial industry. As a direct result, their start-up costs in order to meet both capital and compliance requirements can be extensive and in order to obtain the required capital , HNI’s, Family Offices or Venture Capital entities, will often contribute.
Fintech Australia companies are active and participating in a highly competitive global market place, and in taking risks to compete against both local and international firms it makes sense to review the risks you are taking, and ensure you have appropriate insurance cover.
Business Insurance Specialists can review your business exposures and provide a fintech insurance quote with appropriate coverage for your style of business. Contact us today.