The latest news from CFC;
CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber has announced that its award-winning startup technology scheme is available for digital trading on its Connect platform, giving all UK brokers fast, frictionless access to an underserved segment.
The move marks a significant step in scaling access to early-stage and pre-revenue technology businesses, which have historically been difficult for brokers to place due to the complexity and time required to underwrite emerging risks. By combining a simplified underwriting approach with CFC’s digital trading capabilities, brokers can now quote and bind startup technology risks in minutes.
“We have been relentlessly focused on finding a simple solution to enable brokers to better support this critical segment of the UK economy” said Kenneth Carmichael, UK & Canada Technology Practice Leader at CFC. “Comprehensive quotes can now be obtained within minutes at highly competitive prices.
“I firmly believe that small businesses building the technology of tomorrow deserve specialist advice, proper protection, and products designed for the complexity of what they do. Insurance done well should enable their growth and, with it, the growth of our country’s technology economy.”
Available via CFC Connect, the scheme enables brokers to generate quotes for startup technology companies with flexible, pre-packaged bronze, silver and gold coverage options designed to streamline placement.
The proposition combines traditional and emerging risk protection, including cover for products and services liability, breach of contract, cyber risks and intellectual property exposures. The scheme also includes tailored features, such as specialist cover for R&D property and expenses, and supplementary operating costs in the event of a loss of funding following a cyber incident.
In addition, all brokers will receive a follow-up intellectual property quote from CFC’s specialist IP team, further strengthening the breadth of cover available.
CFC’s Connect platform uses advanced data science and automation to enable brokers to quote and bind specialty lines business in seconds, delivering a seamless trading experience and reducing reliance on manual underwriting processes.
By bringing its startup technology scheme onto Connect, CFC is further extending this capability to a new segment, enabling brokers to access, trade and scale business in a market that has historically faced barriers to entry.
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