Transform EPLI insurance renewal strategies for fintech success
Cost Implications and Savings Opportunities
The cost of EPLI insurance can vary significantly based on the size of the company, industry risk factors, and claims history. For fintech firms, premiums can range from $1,200 to $7,500 annually for small to medium-sized businesses1. However, by proactively managing risks and maintaining a clean claims history, fintech companies can negotiate better rates or qualify for discounts.
Leveraging Technology for Efficient Renewals
Technology plays a pivotal role in streamlining the EPLI renewal process. Fintech companies can leverage data analytics to gain insights into risk patterns, enabling more informed decision-making. Additionally, using digital platforms for policy management can simplify renewals and ensure timely updates to coverage.