Data Tech Startups sought for latest Lloyd’s Lab

by Startacus Admin

Data Tech startups, take note! Lloyd’s are keen to hear from startups who can find and tap into alternative data sets to paint a more accurate picture of risk and help the insurance market underwrite more profitably.
A couple of weeks ago we highlighted that applications were open for the fifth intake of the Lloyd’s Lab - initially with a focus on short, medium and long-term COVID-19 challenges and responses.
Now, a second call for applications for Lloyd's Lab Cohort 5 is open, and this time the focus is on startups and tech companies that can find and help Lloyd’s tap into alternative data sets to paint a more accurate picture of risk and help the market underwrite more profitably.
Lloyd’s is the world’s specialist insurance and reinsurance market.
For the Lloyd’s market, profitable underwriting depends on continually improving the tools and techniques used to select and assess risks, manage risk portfolios and optimise the claims handling process.
Data is the lifeblood of the underwriting process and, with an ever-increasing range of sources available, they are looking to make sure they are looking beyond their core data sets to power smart decision-making in the market.
Ideas could range from finding new data sources that highlight high risk policies for more accurate underwriting, to predicting future claims based on search engine trends, or aggregating existing data sets in new ways to reveal hidden trends.
They are also interested in how new algorithms, models, and statistical techniques can help them to create a more bespoke experience, gain a deeper understanding of risk, and address the protection gap. Rather than just seeking new insights from new data, they are also seeking new insights from existing data.
The Lab is equity-free, does not require you to relocate to London for the programme and selected companies will explore if their product could be used commercially by Lloyd's or if there is potential to jointly develop a project.
They are also interested in new insurance products and solutions which open up new markets (e.g. parametric products, pricing techniques, technologies that can help predict/forecast risks).
Moreover, the Lloyd’s Lab is open to companies at all stages!
Applications for this round close on 26th June and good luck to all who apply!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
YoungPlanet is an app that aims to 'enables parents to put no longer used children’s things to good use with new families and away from landfill, for free'

Major investment news for the London-based fintech to support its product innovation and ambition to help small businesses thrive across the UK

The Yorkshire-based tech spin-out, FourJaw secures major funding to assist with developing its technological solutions for the manufacturing sector

The lowdown on Jack & Bry, the innovative London-based startup that makes a range of plant-based meats, all from Jackfruit

Week Gen-C is a week long calendar of events focused on entrepreneurship and careers, aimed at helping young people affected by the covid pandemic in the North West of NI

Leading startup community, YSYS launch 4 days of innovative online conversations and a range of new initiatives with the core theme of “Access”

Jean Gamester from Toastmasters International shares her tips on bringing back some of that old normal and staying fabulously virtually connected

Karakuri is a London-based startup that's using robotics to create innovative solutions for the catering sector

Planning to launch a fashion brand this year? Here are a few basic tips that will help you do just that and get your business off to the right start

Bippit is an online platform and app that helps companies to support the financial needs of their employees - not just via their salary
Published on: 8th June 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- Countingup closes £9.1 million Series A investment 3rd Mar 2021 Major investment news for the London-based fintech to support its product innovation and ambition to help small businesses thrive across the UK
- FourJaw’s six figure venture capital boost 1st Mar 2021 The Yorkshire-based tech spin-out, FourJaw secures major funding to assist with developing its technological solutions for the manufacturing sector
- Week Gen-C to offer career and entrepreneurship respite to pandemic-hit youth 1st Mar 2021 Week Gen-C is a week long calendar of events focused on entrepreneurship and careers, aimed at helping young people affected by the covid pandemic in the North West of NI
- #YSYSAccessWeek: Building a diverse, inclusive and accessible tech startup ecosystem 28th Feb 2021 Leading startup community, YSYS launch 4 days of innovative online conversations and a range of new initiatives with the core theme of “Access”