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InsureTech

Insurtech is transforming the way insurers operate, delivering better efficiencies and customer experiences. Relm implicitly understands the intersection of technology and insurance, and offers comprehensive coverage for InsurTech companies. Whether addressing cyber vulnerabilities, regulatory compliance, or operational risks, we provide solutions that help these innovative businesses stay secure and thrive in a tech-driven landscape.

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Insurance technology analysis

InsurTech Coverage Built for Innovators

InsurTech Risks

  • 01

    Cybersecurity Threats

    As technology and data usage expand, so do the risks of cyberattacks. For InsurTech companies, the consequences of a breach can be severe. Take, for example, a startup using AI-driven underwriting tools that becomes the target of a cyberattack aimed at stealing sensitive client information. Our coverage ensures the financial fallout from such events is handled effectively, providing protection for both immediate response costs and long-term recovery. 

  • 02

    Regulatory Changes

    Insurance tech companies operate in a landscape of complex and evolving regulations. Insureds must comply with data privacy laws such as the CCPA, GDPR, and emerging state-level regulations. Non-compliance can result in hefty fines and operational delays. As laws like the New York Department of Financial Services’ Cybersecurity Regulation evolve, InsurTech companies must be prepared to navigate these complexities, balancing innovation with strict legal obligations.  

  • 03

    Intellectual Property Concerns

    Innovative solutions in InsurTech can lead to IP disputes. Companies developing proprietary algorithms for risk assessment or automated claims handling may face patent disputes, particularly in a space where new innovations are frequently introduced. For example, a firm that creates a unique blockchain-based claims verification system could find itself entangled in patent infringement claims. Our coverage provides the protection needed to prevent costly legal issues and maintain business continuity. 

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