What’s happening?

Lloyd’s Lab has announced the start-ups that will form a part of its tenth cohort for its accelerator programme. The accelerator’s goal is to drive innovation in the insurance industry and support “our market’s shared goal of sharing risk to create a braver world”. According to the Lloyd’s Lab website, they offer a “coworking space in the iconic building and the chance to develop their ideas alongside their target audience”.

For this most recent cohort of start-ups they have focused on three themes in particular: new products, data & models, and European cyber & climate solutions.

The start-ups in the cohort are:

• Aanika Biosciences

• Armilla AI

• Axio

• Diesta

• FireBreak

• Gabriel

• Intelligent AI

• PolArctic

• REOR20

• Signal Intelligence

• Simulytic, A Siemens AG Venture

• spacebands

• Value.Space

What the key players said

“We’re thrilled to welcome the new insurtechs to the Lloyd’s Lab for our 10th cohort,” said Lloyd’s Lab senior manager Rosie Denée. “Together with the expert panel of judges, we were thoroughly impressed with the calibre of the teams who presented at our Pitch Day and have earnt a place in Cohort 10, and the dynamism they’ll bring to the programme.

“After receiving our highest ever number of international applications and introducing our first regional theme to this cohort, I’m excited to see the dynamism and output that will deliver solutions for our global marketplace.”

The ITC DIA perspective

The Lloyd’s Lab’s accelerator programme once again has shone a spotlight on some excellent start-ups. That all the start-ups operate on a B2B model is a clear indicator of where the insurtech space is going – many start-ups are switching from B2C to B2B or B2B2C models as they target areas which will have a more rapid effect on the industry by enabling the larger carriers to work more efficiently. So not only is this a solid promotion of some of the most important modern technologies beginning to permeate the industry, it’s also somewhat evidential of the direction the insurance industry is taking.  

Source: https://www.insurancebusinessmag.com/au/news/technology/lloyds-lab-announces-10th-cohort-441053.aspx