What we offer

The Payment Services Sector has evolved in recent years driven by technological advancements and changing regulation.  Designed to foster innovation, create competition and develop a level playing field between traditional and new-age firms, the most recent development has been the implementation of the Payment Services Regulations 2017 (otherwise known as PSD2). PSD2 represents a significant development which will support the continued rise of payment related FinTech companies and provide opportunities for payment firms to create new services and revenue streams. 

Protean Risk has a long history of supporting the Fintech, Payment Services, and Technology sectors, having invested heavily over a number of years to gain expert knowledge, engage with industry associations including the Emerging Payments Association and Association of Foreign Exchange and Payment Companies, and develop an understanding of which insurers are most likely to react most positively to companies innovating in this space.

Building on this strong platform, and using knowledge of PSD2, Protean Risk has created a distinctive proposition for Challenger Banks, Authorised Payment Institutions (API), E-Money Institutions (EMI), Small Payment Institutions (SPI), Account Information Service Providers (AISP) and Payment Initiation Service Providers (PISP).  The proposition has been created through combining expertise and innovation, as previously demonstrated by the creation of industry leading insurance products specifically designed to meet PSD demands. These activities have helped forge a deserved reputation within the sector for pioneering solutions, delivered through a bespoke, personal service.

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Key contacts

Hugo Thorp
Team Leader - Fintech & Payment Services

020 3763 5343

Fergus Bracher, Cert CII
Account Manager

+44 (0)20 3763 5364

Why Protean Risk?

  • Extensive Payment Services, Fintech and PSD2 knowledge
  • Market leading PSD2 Insurance for AISP/PISPs
  • Exclusive PSD Bond Insurance, a new Safeguarding option
  • Extensive knowledge of FInTech insurance and wordings
  • Access to a wide range of insurers offering choice and competitive premiums

Key related services

What our clients say

Hugo and the team at Protean Risk provided an exceptional level of service from our initial discussions, right through finalising the quotes for multiple insurance products which we sourced through them. The team at Protean Risk were more than happy to jump on calls to provide clarity about the nuances that arise in levels of insurance coverage across multiple products. Having dealt with other providers in the past, we found Protean Risk to be very prompt and thorough in their replies which greatly helped us keep things moving. The Board of Directors were very happy with their services and we would certainly recommend Protean Risk to other customers!

We were recommended to work with Protean by one of our Venture Capital investors. As a fintech business we have very specific requirements, meaning that we require support from advisers with the expertise in our sector. We found Protean Risk to be knowledgeable, organised and supportive throughout the process. We would be happy to recommend their services to others.

We were introduced to Protean by a trusted partner in 2016 and have worked with them ever since. As experts in Fintech Insurance, they provide a high level of technical expertise, coupled with excellent service. Protean are well connected in the Fintech arena and are also a useful sounding board on broader risk and insurance matters.

We were introduced to Protean by the firm who were helping with FCA authorisation. They really understand the PII cover requirements for PSD2 and were very quick to review our business model and services. They provided multiple options with comparisons which helped us to clearly understood and choose appropriate risk cover. We surely continue to use and recommend them.

Find out why clients choose us

Latest thinking

Protean Risk is now part of the Howden group
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News / by Ed Brennan
Protean Risk is now part of the Howden group

This is an exciting new chapter for us as it means we can now offer our clients more Read more...

AR Model 2022
22 FEB
News / by Richard Austwick, Dip CII
AR Model 2022

Protean discuss the contents of the recent papers on the Appointed Representative model. Read more...

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