Railsr forms a global insurance partnership with Elmore

By Joy Dumasia

Elmore, a specialist insurance intermediary for new risks, has formed a partnership with Railsr, a world-leading embedded finance experiences platform. As Railsr’s insurance partner, Elmore will provide specialist FinTech insurance for Railsr’s customers worldwide. Cover includes cyber insurance, crime insurance, professional indemnity insurance, and directors’ insurance. 

The partnership means that Railsr’s customers will benefit from Elmore’s market-leading FinTech insurance products, which provide protection against operational risks and support contractual and regulatory requirements. Customers can also benefit from a range of embedded insurance solutions, such as personal cyber protection for end users in both fiat and crypto.

With the growth of open banking and embedded finance, a wide range of financial products are being accessed in new ways. While digitalisation is transforming customer journeys and experience across consumer credit, payments, savings and other financial services, FinTechs like Railsr must ensure they protect their businesses and customers. Elmore provides this protection and enables innovators to mitigate operational risks. 

Elmore Founder and CEO Simon Gilbert said: “We protect businesses in a fast-growing and dynamic sector, and we’re delighted to have formed a partnership with one of the most innovative FinTechs today. Together, Railsr and Elmore will support the growth of better and more versatile financial services for customers worldwide.”

“We’re always striving to deliver the best for our customers,” said Nigel Verdon, CEO and Co-Founder at Railsr. “With Elmore’s market-leading FinTech insurance products, we can ensure our customers worldwide are protected. This gives them peace of mind to mitigate operational risks within their business, as well as access to a range of embedded insurance solutions. Together with Elmore, we can continue to deliver deeper financial experiences that drive relationships, relevance and rewards for our customers.”

IBS Intelligence also reported that Railsr, the global embedded finance experiences platform, has launched a new Rewards-as-a-Service (RaaS) product that enables brands to build their own branded rewards programmes.