Markel rolls out new insurance product for insurtech companies

Markel Insurance Introduces InsurtechRisk+

Markel Insurance has announced the launch of a new insurance product called InsurtechRisk+, specifically tailored for insurtech businesses. This offering is designed to meet the unique risks faced by companies in this rapidly evolving sector.

Key Features

InsurtechRisk+ provides coverage limits of up to £10 million, addressing a range of potential liabilities that insurtech firms might encounter. The product aims to offer flexible solutions that align with the innovative needs of these tech-driven companies. It covers various aspects, including professional indemnity and cyber liabilities, which are increasingly vital in today’s digital economy.

Who Will Benefit?

This new product is especially relevant for startups and established companies in the insurtech space, providing them with the peace of mind needed to focus on growth and innovation. By offering comprehensive coverage, Markel hopes to support these businesses as they navigate both opportunities and challenges in the insurance landscape.

Market Context

The introduction of InsurtechRisk+ comes at a time when insurtech firms are becoming more prevalent. The insurance industry has seen significant technological advancements, prompting a unique set of risks that traditional insurance products may not adequately cover. Markel’s initiative demonstrates their commitment to adapting its offerings to meet the specific needs of this dynamic market.

Overall, InsurtechRisk+ seems like a timely addition to Markel's portfolio, offering targeted solutions for insurtech companies. This product could play a crucial role in supporting the growth of innovation within the industry.

Original Source: https://www.lifeinsuranceinternational.com/news/markel-insurance-insurtech-firms/