Upcover, the Australian digital business insurance coverage supplier, has launched a devoted ‘FinTech Vertical’, providing tailor-made insurance coverage options to fintech corporations navigating regulated environments.
With fintech founders typically struggling to seek out insurance coverage insurance policies that align with the technical, operational, and regulatory nuances that include working their enterprise, the launch goals to fill this hole by providing entry to international underwriters, together with CFC, Liberty and Coalition, alongside advisory experience from the Particular Dangers group at Upcover.
Off-the-shelf merchandise sometimes fail to satisfy licensing, investor, or enterprise procurement necessities, leaving corporations underinsured or uncovered.
The brand new FinTech Vertical spans key subsectors from Web3 and neobanking to regtech and embedded finance. It should provide skilled indemnity, cyber legal responsibility, D&O, tech E&O, crime, and blockchain-specific protection.
A lot of fintechs are already leveraging the brand new insurance coverage resolution, together with investment-as-a-service supplier Cache Make investments and pet insurance coverage platform Fetch Pet.
“Having helped dozens of fintechs safe insurance coverage for licence functions, fundraising, and product launches, this new vertical displays what we’ve already been doing — now formalised and scaled,” defined Upcover co-founder Anish Sinha.
Understanding founder’s struggles
Upcover’s FinTech Vertical serves corporations in lending, BNPL, funds infrastructure, crypto, insurtech, wealthtech, and extra. It says its focus is to make sure these innovators have insurance coverage programmes that may evolve with them, throughout merchandise, geographies, and investor levels.
Upcover says that, not like conventional brokers, it hopes to carry a founder’s-eye view to the fintech house, leveraging its personal expertise navigating regulatory complexities to supply strategic recommendation on how insurance coverage integrates with authorized, monetary, and product milestones, alongside quotes.
“We’re not only a dealer, we’re a fintech firm within the monetary providers trade too,” Sinha added. “Meaning we perceive what’s at stake when founders face investor due diligence, ASIC compliance, or procurement hurdles. Insurance coverage can’t simply be box-ticking, it must work in real-world situations.”
This announcement follows Upcover’s $19million Sequence A elevate in early 2025, geared toward increasing its digital insurance coverage footprint throughout Australia’s $20billion business insurance coverage market. The corporate doubled its income final yr and has helped over one per cent of Australian companies entry tailor-made insurance coverage options.
