MARKEL
“ We’ re seeing lots of financial companies start to use this technology,” Nick notes.“ We’ re seeing mainstream financial companies start to launch their own stablecoins.”
Both trends create opportunities for new insurance products addressing novel risk exposures. Markel continues developing coverage solutions to support fintech companies navigating these technological transitions.
Partnership approach transforms insurance delivery In 2024, Markel launched the second iteration of its fintech product, incorporating value-added services beyond traditional claims coverage.
“ We wanted to change the perception of what an insurance company does,” Nick explains.“ We’ ve talked about being a partner to the fintech industry. And yes, we’ re a partner for if you have a covered claim, we will pay it, but what else can we do to help these companies?”
Additional services include 24 / 7 business and legal helplines providing access to specialist lawyers, cyber risk management toolkits and contract drafting advice.
PSD2
Markel worked directly with the FCA in 2017 to ensure PSD2 insurance compliance
Companies can access employment law guidance, grants and funding support, and research and development tax incentive advice.
“ Having this there as part of your insurance policy, which comes absolutely free of charge, we think is really helpful,” Nick says.“ If you’ ve ever had to speak to a lawyer, they bill by the minute or hour, and those costs can ramp up quite quickly.”
The approach positions Markel as a risk management partner rather than solely a claims payer. Face-to-face meetings with clients build relationships and provide opportunities to discuss emerging risks and business developments.
76 October 2025