Cyber insurance: Finlex simplifies placement process for SMEs

Finlex has established the “Cyber Fast Lane”, a new and simple process for the Cyber insurability of small to medium-sized companies (SMEs). They are now able to select and take out Cyber insurance in an even faster process online via the Finlex platform.

The Cyber Fast Lane model is characterized by a lean, fast and digital process covering everything from risk assessment to policy issuance. Companies with a revenue of up to 50 million euro can choose directly from several results based on just three basic pieces of information. Then, depending on their choice, they only need to meet a few minimum IT security requirements for the policy to be issued directly online.

Sabine Sander, Cyber pioneer and Finlex Non-Executive Director notes: “The Fast Lane is Cyber insurance ‘to go’. In particular for small and medium-sized companies taking out Cyber insurance should not become a ‘project’ but should remain an easy purchasing decision. Our new approach to apply for Cyber insurance enables the broker to see exactly which coverage is available to their customers with the existing IT security level.”

Quick and uncomplicated solution for Cyber risks

The standard risk assessment on the platform is set up based on the industry sector and revenue and includes a more in-depth look as well as possible follow-up actions, such as remediation of vulnerabilities and benchmarking. Companies also receive a detailed risk report, which requires additional data. Furthermore, the larger and more complex the company, the more information insurers require. Smaller SMEs, on the other hand, are often looking for an uncomplicated and quick solution and want a level of risk assessment that is appropriate to their size. The Cyber Fast Lane makes Cyber insurance attractive once again for smaller businesses.

“With the Cyber Fast Lane, we offer smaller companies a quick and uncomplicated solution for protecting their Cyber risks,” says Finlex co-founder and CEO Sebastian Klapper. “Here, too, we can guarantee a high-quality standard across all providers with special coverage agreements.”

Transparency: premium correlates with IT security

In the Cyber Fast Lane, the broker receives not only the quote ready to be concluded digitally, but also an overview of which providers make an offer based on which IT requirements and which conditions being met. This helps the company to consider upgrading their IT technology to then receive a better premium. In this way, the Finlex platform supports brokers to an even greater extent in fulfilling their advisory mandate.



The following images are released for reprinting subject to editorial, non-commercial use.

Sabine Sander | (Press photo)
Sebastian Klapper | (Press photo)

Photo credits: Finlex GmbH


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About Finlex GmbH

Finlex – the online insurance platform for commercial and industrial customers with a focus on financial lines such as D&O, Cyber, criminal and PI insurance.

In the Insurance industry Finlex is considered as one of the few ‘scale-ups’ with enormous potential. Scale-ups are start-ups that have left the initial phase and are showing rapid growth. Finlex combines expert knowledge from the commercial and industrial insurance sector with the most advanced technology. The needs of the customer always come first. The platform offers insurance brokers with a focus on corporate clients a white-label solution with market-leading specialty products and all relevant insurers in one place. From tendering to contract, renewal and portfolio functions to an extensive knowledge base, the platform provides brokers with their own digital infrastructure. For insurers, it enables automated underwriting (robo-underwriting) for financial lines products and access to the leading industry brokers in Germany, Austria and soon France.

Finlex is headquartered in Frankfurt am Main with offices in Barcelona, Berlin, Düsseldorf, Essen, Paris, and Vienna. The company was founded in 2015 and today employs more than 130 people.



Press contact

Finlex GmbH
Denise Jetzki | Head of Marketing & Communications
Phone: +49 69 8700 142-0