The very first cohort of Lloyd’s The lab will feature 12 insurtechs dedicated to addressing challenges related to natural disaster prediction and risks associated with cybersecurity.
Lloyd’s has selected 12 insurtechs from a record number of applications covering more than 33 countries for the 12th cohort of its innovation hub, focused on the US market. Additionally, the cohort will address two additional themes: “Data, Models and Processes” and “New Products”.
Teams in the incoming cohort will have access to Lloyd’s Lab’s extensive network and expertise within a ten-week accelerated incubator to develop products and solutions to address some of the biggest risks facing businesses and communities in the Americas region, with the support of industry. experts.
The objective of Data, Models and Processes is to meet the challenges through innovative platforms enabling progress in underwriting in the Lloyd’s market. “New Products” is dedicated to promoting insurance products that can solve underinsurance problems and significantly improve resilience.
Rosie Denée, Senior Director of Lloyd’s Lab, said: “Each new team in Cohort 12 brings unique innovation and expertise, supporting Lloyd’s continued commitment to redefining the future of insurance.
“The Lab’s recent success on region-specific themes further validates the work the Lab is doing to provide solutions to our global market. We are very impressed with the teams who presented at Pitch Day and look forward to welcoming them to our doors.
The pre-selected insurtechs are: CoverYourAI, OpenCover, SAMP Risk, SHINC, Astroteq.ai, CatX, Maximum Information, Sixfold, Authentic Art, Latú Seguros, Pascal Metrics and ZeroEyes.
“Each team in Cohort 12 brings unique innovation and expertise, reflecting Lloyd’s ongoing commitment to redefining the future of insurance,” added Denée.
“The Lab’s recent success on region-specific themes further validates the work the Lab is doing to provide solutions to our global market. We are very impressed with the teams who presented at Pitch Day and look forward to welcoming them to our doors.
CoverYourAI helps enterprise teams leverage AI with its built-in parametric product protection plan, and close the AI adoption gap by making AI risks transferable so that Coverage holders can get more with AI.
OpenCover’s real-time blockchain transaction coverage protects businesses transacting on blockchain networks from technical, economic, and cybersecurity risks.
SAMP Risk helps insurers with electrical machinery breakdown insurance by providing information that reduces electrical asset breakdowns and improves insurers’ loss ratios. He plans to create an MGA.
SHINC leverages parametric insurance and deep expertise in commodities and maritime markets to transform the demurrage claims process and provide risk management tools “not available in the market today”.
Astroteq.ai offers an AI-driven earthquake forecasting system designed to provide forecast horizons of up to 14 days instead of just seconds.
CatX bridges the gap between alternative capital and insurance risk. Its technology helps insurers reduce their cost of capital, brokers improve customer experience and investors unlock uncorrelated investment opportunities.
Maximum Information is committed to increasing societal resilience to disasters through scalable natural hazard modeling.
Sixfold is an AI solution designed specifically for insurance underwriting. It reduces manual workload for underwriters, helping them make underwriting decisions with improved accuracy, transparency and capacity.
Authentic Art serves the art and collectibles market. It streamlines the collection, processing and exchange of data and information through its iamart platform, which connects insurers, brokers, assessors and collectors, to enable faster service and better risk underwriting.
Latú Seguros seeks to build resilience and close the insurance gap in Latin America through AI-based underwriting and risk management techniques, proprietary software and cyber modeling, and a system of complete operator based on WhatsApp.
Pascal Metrics is a data analytics company enabling clients across healthcare sectors to improve patient safety, reduce risk and maximize business performance. Its Virtual Patient Safety (VPS) solution allows insurers to act in the field of medical professional liability (MPL).
ZeroEyes is a proactive, AI-powered, human-verified visual gun detection platform that provides situational awareness and integrates with existing digital security cameras to stop shootings mass and gun violence.
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