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How to Properly Protect Your Fintech Company with Insurance
| July 23, 2019
For banks and developers who want to do more solar projects at better terms, our revenue insurance unlocks solar financing for unrated or below investment grade organizations by covering default on repayment obligations.
Article | February 27, 2020
Every business has different dynamics. Thus, it becomes imperative that business owners have sufficient measures to safeguard against any unforeseen risk in the future. Regardless of your business size, there are always certain risks involved. Business insurance proves to be an extremely crucial tool to beat all the troubles which may accidentally arise at unwarranted any time. The business owners might end up paying a hefty amount of the losses.
What is the insurtech difference when it comes to claims? Jonathan Swift mulls on how the Next Generation is starting to figure this out “The claims experience is really critical to our brand and making sure that customers are saying Digital Risks is who I am insured with. Whilst others struggle with that, we want to be a case that if you have a claim it is Digital Risks who you are dealing with.” This sentiment is interesting because there has perhaps been an – incorrect – assumption that insurtechs are really only focused on acquiring customers by making it as simple as possible.
The latest figures from a Willis Towers Watson report shows that investment in insurance technology, or InsurTech, reached an all-time high in 2019 at $6.37 billion, with funding in the Property/Casualty sector representing the lion’s share over its Life/Health counterpart. InsurTech is designed to disrupt and change the way the insurance distribution system conducts business, upping the game in delivering tailored product lines, reducing friction in client transactions, providing a better on-line customer experience, and assessing risk scenarios to provide new offerings.
Open banking rules, particularly PSD2 regulations in Europe, have forced banks to share their customer information. Some progressive lenders have turned this threat to their businesses into a big opportunity. They’re using data-sharing ecosystems to reach more customers and launch new products. They’re also teaming up with promising business partners and expanding into fresh markets.
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