Innovative InsurTech startups take note - Lloyds Lab wants to hear from you

by Startacus Admin

The award winning Lloyds Lab incubator is currently seeking innovative startups to join its latest cohort, Cohort 6. This time around they are interested in applications from companies who can help the Lloyd’s market with any of the following key challenges:

Climate change/ decarbonisation

For this theme, they’re on the lookout for startups that are offering insurance products to transfer decarbonisation risks, responding to the increasing threat of climate events, offering tools to understand the changing nature of climate risks or who can help Lloyd’s insurers understand the carbon footprint of the clients that they cover.

Geopolitics

As Lloyd’s will be exploring the changing nature of geopolitical risk this year, they are keen to hear from companies that offer new products to help clients manage and transfer these risks, or that have tools to improve the forecasting and modelling of these risks. They’re also interested in companies with services to both manage live events and contain any negative consequences or that offer Index proxies that could form the basis of new parametric triggers.

Data and models

With data being so vital for the underwriting process, Lloyd’s are, as always, really keen to hear from companies that can help them get a more accurate picture of risk to help power smart decision making. Whether that is by perhaps tapping into alternative data sets, finding new data sources or even identifying hidden trends in existing data sets - the key thing is that they’re interested in companies that can help them obtain new insights from both new and existing data.

Future at Lloyd's Theme - Claims Support Services

Within the Future at Lloyd’s theme, they are seeking companies that can assist with a range of services, including, Adjustment automation and Claims surge management tools, Compliance and escalation / dispute management tools, Customer experience insights, Data analytics and reporting tools, Essential wording and document translation services, Fraud detection and investigation, Innovation and change enablers, Smart policy, claim and expert report summarisation, Smart salvage and subrogation, Third-party data enrichment tools and Training and knowledge sharing tools.

Wild Card

If you’ve got an innovative insurance product or service but it doesn’t really fit into the Climate Change or Geopolitics themes, then they’d still like to hear from you! This Wildcard category is for startups just like yours!

Interested in applying?

Applications are now open and must be submitted before midnight on 22 February 2021. A Pitch Day will take place on 31 March 2021 and then the 10-week programme itself will begin on 26 April 2021.

Throughout the programme, there’ll be intensive collaboration between you and the Lloyd’s Lab team and a host of market experts and external mentors. It will all culminate in a Demo Day on 7 July 2021 when the entire cohort will present their innovations and all they’ve achieved during the programme.

If you’re interested in finding out more about what it’s all about, the Lloyds Lab team are holding an Open House event on 4th Feb 2021 where you’ll hear from the Lab and Scouting Team and also from Cohort 5 alumni HazardHub and mentors. Book your ticket now!

Best of luck to all who apply!

 

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Published on: 14th January 2021