As Fintech Development Manager at CFC, Steve Bowers occupies a pivotal position at the intersection of financial technology and specialist insurance.
Since joining CFC in 2017, Bowers has witnessed and actively contributed to the organisation's remarkable growth from 200 to 1,000 employees, whilst establishing himself as a key figure in the evolving landscape of fintech insurance.
“I'm responsible for all of our global broker engagements from a fintech perspective,” Steve explains. “But that's not just all – I'm also a full-time underwriter, diving into fintech risks daily, providing and issuing policies.”
This dual role enables him to bridge the crucial gap between client needs and technical underwriting, ensuring CFC's products remain both relevant and competitive in a rapidly changing marketplace.
Innovation in risk management and technology
Under Steve's guidance, CFC has developed a distinctive approach to fintech insurance that goes beyond traditional policy provision.
His expertise spans AI implementation, open banking developments, and cybersecurity risks, with a particular focus on emerging technologies in financial services.
“The thing about fintech is that it’s changing so rapidly, all the time,” he notes. “We never see one risk that's exactly the same as another. And on any given day, you could be faced with something completely new and groundbreaking.”
This perspective has shaped his approach to risk assessment, particularly in emerging areas such as AI-driven financial advice and algorithmic trading systems.
Navigating global compliance and future trends
Steve has demonstrated particular prowess in addressing the challenges of international regulatory compliance.
“It's a bit like trying to hit a moving target,” he explains. “We might craft a policy that's perfect for today's needs, but if there's a regulatory change tomorrow, we're back to the drawing board, making sure we're providing cover that's not just right, but compliant.”
His forward-thinking approach extends to emerging trends in fintech insurance, including the integration of artificial intelligence and the evolution of open banking.
“Consumer expectations are changing,” he observes. “There’s this growing demand for immediate access to services, and I don't see that trend slowing down anytime soon.”
Through his role at CFC, Steve continues to shape the future of fintech insurance, ensuring that coverage evolves alongside technological advancement whilst maintaining robust risk management standards. “We're not just selling policies,” he emphasises.
“We're providing market-leading solutions, backed by great service, competitive pricing and a claims service that goes above and beyond. It's the whole package that sets us apart.”
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