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FinTech Insurance

Specialised insurance solutions for FinTech companies. Willis, a WTW business, offers a comprehensive range of FinTech insurance services to help FinTechs manage risks and focus on innovation.

Willis has worldwide experience in insurance broking and risk advisory engagements for FinTech firms which consists of:

  • Payment service providers
  • Online lending or trading platforms
  • Buy Now Pay Later firms
  • Insurtechs
  • Wealthtechs
  • Digital banks
  • Financial infrastructure firms

Key challenges in finding suitable FinTech insurance solutions

FinTech companies face several key challenges when it comes to buying insurance with generalists who don't specialise in this sector. These include but are not limited to:

Navigating regulatory uncertainty

The Financial Institutions (FI) sector is highly regulated throughout the world, and FinTech firms operate in this dynamic risk environment where they need to comprehend evolving FI and tech regulations, often across many different jurisdictions. This can create challenges to find insurance policies that adequately cover these risks and equally brokers/risk advisors who understand the solutions that are required.

Managing different proposal forms, insurers and mismatched policy wordings

The FinTech Plus solution is a streamlined industry specific solution for financial and cyber risk exposures, available under one policy. Only one proposal form is required and there is no mismatch of different insurers or multiple confusing policy wordings to navigate through, thus saving you both crucial time and cost to enable you to focus on scaling your business.

Managing cybersecurity threats

As digital-native entities, FinTech companies are highly exposed to cyber risks, including data breaches, operational disruptions, and financial/reputational damage including business interruption. At Willis, our consultants assist in bridging the gap between risk and insurance, and can provide tools/consulting advice that assist in improving your cyber resilience.

E-money institutions and payment institution specific policies

UK & EEA policyholders only: For regulated e-money institutions and payment institutions based in the UK or EEA, there is an insurance solution for safeguarding of your users' funds which provides you with an opportunity to use additional working capital, thus providing you with greater operational efficiencies.

UK policyholders only: APP Fraud Insurance offers a strategic solution to safeguard your institution against these sophisticated scams.

How Willis helps organisations like yours with FinTech risk and insurance solutions

Our industry specialisation and innovative approach ensure that we are here to support you at every stage of your journey to help you achieve your growth ambitions. We offer tailored solutions designed to meet the unique needs of FinTech companies, enabling you to focus on innovation and growth.

Key benefits of using Willis for your FinTech insurance needs

Industry specialisation
FinTech firms face complex and evolving risks. Willis has a global team of specialist claims and client advocates, supported by brokers and operational and cyber risk consultants.

Across these specialists there is diversified global experience ranging from ex underwriters, litigators, private practitioners, banking analysts and FinTech risk managers.

We engage with our clients year-round to truly comprehend your business and key risk exposures. With Willis, you will be well positioned to stand out with insurers and maximize value from insurance.

Innovation
Leverage our global approach to managing FinTech clients' risk portfolios for better outcomes, lower costs, and stronger insurer relationships.

We use advanced analytics, including our partnership with Security Scorecard, to provide a clearer picture of emerging risks, enabling smarter, data-backed decisions. This helps keep you ahead of the curve and better prepared for future challenges, ultimately protecting your bottom line.

Frequently asked questions on FinTech insurance

FinTech insurance provides specialised coverage for financial technology companies, addressing unique risks such as cyber threats, regulatory challenges, and operational disruptions. Furthermore, general insurance policies may not adequately provide the most appropriate coverage and specialised insurance helps manage these risks effectively.

Depending on your specific profile firms should also consider M&A Insurance, HR Insurances , Credit Insurance and Special Contingency Risk (Kidnap & Ransom) Insurance

Willis offers a streamlined industry-specific solution called FinTech Plus, which covers key financial and cyber risk exposures under one policy, saving time and costs.
FinTech companies often struggle with navigating lengthy and time consuming applications and different insurers across multiple mismatched policy wordings. Responding to perceived weaknesses in operational risk or cyber resilience is a challenge for many generalist insurance brokers too.
Willis provides tools and consulting advice to help FinTech companies bridge the gap between risk and insurance, enhancing their cyber resilience.
The process involves assessing your company's risk profile, filling out a single proposal form, and working with Willis's specialists to find the most suitable coverage.
Willis offers industry specialisation, innovative risk management solutions, and a global team of specialists to ensure optimal renewal outcomes and value from insurance.
Yes, FinTech insurance can include coverage for business interruption caused by cyber attacks, helping mitigate financial and reputational damage.

At Willis, we cover the entire value-chain across the FinTech sector and understand the key risks going from private to public. You may consider specific Public Offering Securities Insurance (POSI), which our FinTech team has extensive experience in designing, advising and placing of. Equally, pre/post IPO executive remuneration strategies to ensure effective attraction and retention may be a critical risk on your agenda and WTW has a specialist team who can support you.

Outside of the policies stated on this page, compulsory insurances commonly referred to as General Lines may be required, depending on your location. These include Employers Liability (or Workers Compensation in the US/Australia), General/Public Liability, Property Damage and possibly Personal Accident / Corporate Travel and Auto Liability/Motor Fleet insurances.

FinTech Insurance

Speak to our team today

Ready to secure your FinTech company’s future? Contact our team of specialists to learn more about our tailored FinTech insurance solutions and how we can help you manage risks and focus on innovation.

Related solutions for FinTechs

Digital Assets Insurance

Our digital asset taskforce specialized in digital asset risk strategy and transfer with worldwide experience in risk consulting and key related insurance lines.

Financial Institutions

From an ever-shifting regulatory landscape to the digitalization of the workplace, financial institutions face a complex set of challenges and risks. WTW helps our financial institution clients manage risk, cultivate talent and explore new ways of working.

Operational Risk Solutions

Helping to bridge the gap between risks and insurance programs for financial services organisations.

Fintech industry salary surveys

WTW delivers salary and HR survey data to support your organization’s attraction and retention efforts.

Cyber Risk Management and Insurance

Safeguard your digital infrastructure and assets against cyber threats with our tailored coverage solutions and experienced teams.

Mergers and Acquisitions

Our M&A team delivers tailored M&A solutions for people and risk to make your M&A deal a success.

Contact us