Open insurance

Railsr chooses Elmore as fintech insurance partner

Ellie Duncan
26 Aug 2022

Embedded finance platform Railsr, formerly known as Railsbank, has formed a partnership with specialist insurance intermediary Elmore.

Through the partnership, Elmore will provide specialist fintech insurance for Railsr’s customers globally, with products that provide protection against operational risks, and that support contractual and regulatory requirements.

The cover offered by Elmore includes cyber insurance, professional indemnity insurance, crime insurance and directors’ insurance.

In addition, Railsr’s customers will have access to a range of embedded insurance solutions, such as personal cyber protection for end users in both fiat and crypto.

Nigel Verdon

Railsr CEO Nigel Verdon

Nigel Verdon, CEO and co-founder of Railsr, said that Elmore’s fintech insurance products will give its customers “peace of mind to mitigate operational risks within their business”.

“Together with Elmore, we can continue to deliver deeper financial experiences that drive relationships, relevance and revenue for our customers,” Verdon added.

Elmore was founded in 2015 by Simon Gilbert and has operations in both London and Lisbon, Portugal, and specialises in technology-related new risks and emerging threats.

Gilbert said: “Together, Railsr and Elmore will support the growth of better and more versatile financial services for customers worldwide.”

Railsbank changed its name to Railsr in June this year.