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Marsh Honored With 2019 Innovation Award for FINTECH Protect

Marsh is honored to be recognized by Business Insurance with a 2019 Innovation Award for its FINTECH Protect insurance solution designed to better manage US-based fintech companies’ growing risks.

Business Insurance’s Innovation Awards recognize leadership, inventiveness, and ingenuity in products and services designed for risk management professionals. Winners are selected by a panel of independent risk managers.

Launched in collaboration with Validus Specialty in May 2019, FINTECH Protect addresses the evolving strategic, operational, and regulatory risks faced by today's US fintech companies in one, efficient, cost effective policy form.

“As the fintech market continued to grow and transform the financial services industry, we recognized that the insurance marketplace was not adequately addressing the complex risks faced by our fintech clients,” said Tom Orrico, Financial Institutions Practice Leader, FINPRO, who together with several FINPRO colleagues, developed the solution with Validus. “FINTECH Protect eliminates the need for purchasing and piecing together multiple policy forms, which can result in coverage gaps, higher costs, and unfavorable claims experiences for our clients.

“We are honored to be recognized for our creativity in addressing the concerns of our clients,” said Mr. Orrico, who accepted the 2019 Innovation Award at a luncheon in Las Vegas on September 23.

This is the third year in a row that Marsh solutions have been recognized in Business Insurance’s annual Innovation Award program. In 2018, Marsh was honored with three Innovation Awards for its Blockchain Proof of Insurance, PathogenRX, and CrimeBlock solutions. In 2017, Marsh’s Brexit insurance placement structure, known as Bridge was recognized.

Read more about FINTECT Protect online at Business Insurance.com.