InsurTech solutions for COVID-19 response, recovery and future-resilience sought by Lloyd's Lab
by Startacus Admin
Applications are now open for the fifth intake of the Lloyd’s Lab, with a focus on short, medium and long-term COVID-19 challenges and responses.
Lloyd’s is urgently seeking as many high-quality new applications as possible from startups who can introduce ideas that directly support customer and economic recovery in the short term, as well as ideas to help build resilience to future waves of COVID-19 or other events of this scale.
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 a recognised leader in providing insurance solutions for the world’s most complex risks, Lloyd’s is focused on supporting the recovery and future resilience of their customers in the face of COVID-19 and future global catastrophic events.
Open to startups from inside and outside the insurance sector, the Lloyd’s Lab COVID-19 focus is split into 3 sections:
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New types of insurance to support the COVID-19 response
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Helping the Lloyd’s market to assess COVID-19 risks
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Helping Lloyd’s and their customers to adapt to a changing workplace
However, if you are an entrepreneur or startup that has an idea or solution that could support recovery and resilience in the medium to long-term, as we move through this pandemic or prepare for future ones, they want to hear from you.
As part of Lloyd’s package of initiatives to respond to COVID-19, they are reimagining the scope and timing of cohort 5 of the Lloyd’s Lab, to help fast-track the 
development of innovative new products and solutions.
Adjusting the process and guidelines for new applicants to the Lloyd’s Lab to help startups more quickly create and bring to market their COVID-19 products and solutions, they may run up to three different programmes for cohort 5, depending on the suitability of the applications that they receive.
This would start with a short, but intense, three-day programme in July with a small number of teams, with a standard 10-week programme also starting in July and focussing only on the COVID-19 response.
Then their standard 10-week programme would again run from September to November, extending the scope to include two additional themes, which will be released in the coming weeks.
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).
For full details of the programme, FAQs and of course to apply, simply visit Lloyd’s Lab Cohort 5. Best of luck to all who apply!
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Published on: 13th May 2020
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