The Lloyd’s Lab is a 10 week fast-track, fast fail programme where new concepts, ideas and products can be tested with the support of experts from the world’s largest insurance and reinsurance market. The lab is looking for fresh ideas to challenge how they do things and help the Lloyd’s market better serve its customers.
The lab is accepting applications for Cohort 13 under 3 themes, these are
- New Products: Lloyd’s Lab seeks novel insurance offerings that address underinsurance and enhance existing coverages. Submissions may include technologies to quantify exposure to new risks, predict potential losses, or integrate insurance with existing services.
- Data, Models & Processes: The efficiency of Lloyd’s underwriting relies on advanced tools for risk assessment and claims handling. Innovations in this theme may involve new data sources for accurate underwriting, predictive analytics for claims forecasting, or automation of payment processes.
- Building resilience and supporting the transition in a rapidly changing Middle East & Africa (MEA) landscape: With a dedicated focus on MEA, Lloyd’s Lab aims to develop solutions that mitigate risks arising from climate change, energy transition, and natural disasters. Submissions may include (re)insurance products, sustainable energy solutions, or advanced data models for risk management.
To help accelerate these products, the Lloyd’s Lab programme offers:
- Access to expert mentors and proximity to key advisors, potential trading partners & investors. ‘Building resilience and supporting the transition in a rapidly changing Middle East & Africa landscape’ theme participants will have access to Middle Eastern and African focused specialists.
- Participants can work out of Lloyd’s in London or wherever best fits their business.
Please note that the Lloyd’s market is for large, specialists risks. Therefore they do welcome applications if the said product or service is not suitable for the Lloyd’s market, such as it being for the health insurance, pet insurance, travel insurance, life insurance, etc, space (unless it is a true innovation and first in this space).
The application timeline spans from July 14 to September 30, with Pitch Day scheduled for September 10 and Demo Day for December 11.
To apply visit https://sonr.global/lloyds-lab/