Fintech Industry Insurance

Fintech (short for financial technology) can be defined as technology and innovation being applied to financial services, to improve both customer experience and business operation.  But far from being a sub-sector or niche activity, and according to the recent Kalifa Review of UK Fintech, fintech is rapidly becoming “a permanent technological revolution that is changing the way we do finance”.

Representing 10% of global market share^[1] and £11bn in revenue^[2], The UK has rapidly become a leading fintech hub:

• Investment into UK fintech stood at $4.1bn in 2020 – more than the next 5 European countries combined.^[3]
• UK citizens are becoming digitally active and 71% are now using the services of at least one fintech company. ^[4]

With extensive experience in both the technology and financial services sectors — and with large digitally-transforming financial institutions and some of the UK’s fast-growing fintech companies among our client base — Marsh is ideally placed to understand the issues and advise on the appropriate insurance risk and mitigation strategies. 

If you would like to discuss your insurance needs further, please contact us.

 Sources:

¹ KPMG analysis
² EY UK Fintech 2020 report
³ FinTech Investment Landscape 2020
⁴ EY Global FinTech Adoption Index