Lloyd’s latest insurtechs

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Lloyd’s Lab, an insurance technology innovation hub within Lloyds of London, has revealed the second cohort of insurtechs to be selected for its 10-week programme.

The innovation accelerator, which launched in September 2018, announced its first cohort in October 2018, with 10 teams of insurtech start-ups selected to develop technology-driven products and processes to help overcome challenges in the market.

The second cohort comprises 12 teams, including: ClauseMatch, a real-time collaboration software  that aims to help firms effectively manage and comply with internal governance documentation, which is based in the UK and Singapore; Canada-based miBroker, creators of miCtrl, a digital insurance brokerage providing on-demand insurance for gig economy workers; RYSKEX, a hedging platform based in Germany; and Ireland-based Describe Data, which uses data and AI to improve risk understanding.

The teams will have the opportunity to test their concepts, ideas and products over a 10-week period, with support from Lloyd’s market experts. Themes in this programme include powering data-driven underwriting with new insights, enhancing the customer experience, enabling back-office efficiencies, and creating next-generation insurance products and services.

Applications for a third cohort are expected to open in June.