Innovative InsurTech businesses take note - Lloyd’s Lab wants to hear from you
by Startacus Admin
InsurTech businesses take note! Lloyd’s Lab is back and they are seeking solutions that have the potential to create real commercial value for the Lloyd’s market.
Based in the heart of the world’s specialist insurance market, Lloyd’s Lab offers an environment where new ideas, concepts and products can be tested with the support and active involvement of the world’s leading specialist insurance marketplace.
As always, they are seeking solutions that have the potential to create real commercial value for the Lloyd’s market. The major focus will be on later stage businesses but applications are still welcomed if you’re an early stage startup or even a more mature established business.
For this latest cohort, Cohort 4 there are four key themes:
Data and Models
-
Since data is at the very core of the underwriting process, they are on the lookout for startups who can help them explore alternative data sets to get a more accurate
assessment of risk as well as help the market underwrite more profitably.
New insurance products and markets
-
Any new insurance products or solutions which could open up new markets are also being sought. They are looking for all sorts of innovative ideas - anything from a new parametric product to a new pricing technique.
Future of transportation
-
With so much innovation taking place within the transportation of goods and people, they are seeking ideas which can help the sector explore this innovation. Whether it’s to do with the risk levels of Marine hull and cargo or how driverless cars should be insured, the key element of this theme is innovation for the future.
Cyber
-
This is the first time that the cyber risk theme has been addressed within the Lloyd’s Lab cohorts. Within this, they are ideally looking for any solutions which can help the Lloyd’s market understand cyber risks better, respond to incidents more quickly and in turn provide a better service to customers. Companies with existing cyber solutions can also apply although the aim will be to develop these during the programme to bring a new product or solution to market.
Once again, Lloyd’s will collaborate with corporate innovation specialists and early-stage investors L Marks, who run bespoke start-up partnership programmes across industry sectors, including clients such as Arsenal, BMW and International Airlines Group (IAG).
Interested in applying?
Applications are now open and must be completed before midnight on 21 February 2020.
Around 24 applicants will be invited to a Pitch Day on 01 April 2020 when they will have the opportunity to present their idea to Lloyd’s senior leadership and market representatives.
The Programme itself will begin on 27 April 2020. Throughout the 10 week programme, there will be an intensive collaboration between the participants, supported throughout by market experts and external mentors.
The finale of course will be the Demo Day, due to take place on 08 July 2020 where each of the participants will be able to showcase all that they have achieved over the previous 10 weeks as well as presenting their proposal for future engagement with the Lloyd’s market.
For full details of the programme, those all important FAQs and of course to apply, simply visit Lloyd’s Lab Cohort 4.
Best of 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.
Black Young Professional Network, aka BYP Network will hit and surpass their Seedrs £500k funding round target.
.jpeg)
Planning to hire an accountant for your startup? Here are a few of the things you should consider before you do just that...
Sustainable reward scheme Bagboard, a first-of-its-kind advertising platform for planet-friendly brands launches £600k funding round
The London-based startup that's disrupting the insurance industry by its collective-based model for cycling insurance
More than half of employees concerned about returning to work and majority of employees NOT comfortable using public transport
The GCHQ Innovation Co-Lab is on the hunt for companies harnessing data science, machine learning and AI techniques to create real products and solutions.
Eppik is a smart family photo sharing platform that helps families reconnect through their shared photo heritage
New targets set by 30% Club aimed at achieving both gender diversity and fully inclusive cultures on FTSE Boards, Executive Committees and Chair Appointments
Xero’s Roadmap to Recovery manifesto launched as new data confirms impact of COVID-19 on UK small business revenue and employment
In this article, we’ll be exploring how new users can build their first Magento store and drive it towards online dominance.
Published on: 13th January 2020
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- More than half of employees concerned about returning to work 2nd Jul 2020 More than half of employees concerned about returning to work and majority of employees NOT comfortable using public transport
- GCHQ Innovation Co-Lab seeks startups harnessing data science, machine learning and AI 2nd Jul 2020 The GCHQ Innovation Co-Lab is on the hunt for companies harnessing data science, machine learning and AI techniques to create real products and solutions.
- Ten Years On: 30% Club Sets New Targets 1st Jul 2020 New targets set by 30% Club aimed at achieving both gender diversity and fully inclusive cultures on FTSE Boards, Executive Committees and Chair Appointments
- Xero’s Roadmap to Recovery manifesto launched 1st Jul 2020 Xero’s Roadmap to Recovery manifesto launched as new data confirms impact of COVID-19 on UK small business revenue and employment
