CFC establishes dedicated fintech team

CFC has created a dedicated fintech team within its financial institutions practice. The insurer has grown its fintech book by 100% over the past year, serving fintech businesses globally.

The new CFC team brings together over 40 years’ experience from underwriters with experience of writing technology risks and financial institutions.

“Technology plays an integral role in the global financial infrastructure, whether it is underpinning day-to-day operations or delivering new ways of servicing customers,” said Neil Beaton, financial institutions practice leader at CFC. “Investments in fintechs have risen sharply with investors pumping more than US$200bn into start-ups and scale-ups alike over the past 12 months and the proliferation of fintech businesses is only going to increase.”

Fintech team leader, Hannah Durrant, added: “Submissions from fintechs are growing month on month, so we felt it important to ring-fence a team to focus solely on this business. These companies face a unique set of exposures brought on by their use of technology and we can offer them market-leading, fit-for-purpose cover and expert underwriting and risk management.”

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