Lloyd’s of London has announced the next eleven InsurTech start-ups to join the sixth cohort of the Lloyd’s Lab innovation accelerator programme.
The program will be focused on creating simpler products for customers, including building solutions related to climate risks.
This follows Lloyd’s commitments to reducing complexity and enhancing coverage clarity outlined in its key report released last year, alongside Futureset’s focus on climate change resilience initiatives.
The cohort will begin in a virtual capacity but will be able to return to the physical Lloyd’s Lab workspace in London from 21st June, pending the UK Government’s COVID-19 lockdown easing plans.
For the sixth cohort, the InsurTech start-ups have been selected based on solutions geared towards climate change and decarbonisation geopolitics, data and models, and claims support services.
The teams will explore how they can support Lloyd’s customers around the world by creating simpler products capable of responding quickly in the aftermath of a disaster.
The eleven teams selected for Lloyd’s Lab cohort six include Moonshot, Verisk Maplecroft, Scrub AI, Supercede Technology, Safekeep, SettleIndex, DistriBind, CarbonChain, Tesselo, Gaia and Jupiter Intelligence.
Ed Gaze, Lloyd’s Lab Senior Manager, said: ‘We’re excited to welcome the new teams to the Lloyd’s Lab for our sixth cohort. Product simplification is a critical issue for the industry following the COVID-19 pandemic and Lloyd’s is committed to providing our customers with clarity in their policies so that valid claims are paid.
“We’re delighted that we’ve been able to secure the most innovative and cutting edge InsurTech’s across the world to work with the Lloyd’s Lab and we look forward to collaborating on these critical market issues.”
