Lloyd’s Lab opens applications for tenth cohort

Lloyd’s Lab has today (4 January 2023) opened applications for the tenth cohort of its fast-track accelerator programme for early-stage businesses and start-ups with fresh ideas that helps the Lloyd’s market better serve customers.

Successful candidates will enter a 10-week programme where the submitted ideas will be put to the test.

Applicants have until 12 February at 11:59pm to enter under three key themes – new products, data and models and lastly European cyber and climate solutions.

Lloyd’s Lab has also set a regional focus for the first time.

Three new themes

The three new themes include the following details.

• New Products: Lloyd’s lab is looking for new insurance products that help solve underinsurance or improve existing coverage with a sustainable future in mind and help customers be more resilient. Therefore, submissions could include technologies that can help insurers quantity exposure to risk, for example.
• Data and models: As data is the lifeblood of the underwriting process, Lloyd’s Lab wants to make sure it is looking at core data sets and therefore make better decisions. Submissions could include predicting future claims based on search engine trends.
• Europe cyber and climate solutions: This theme has a regional focus on developing solutions to help address Europe’s cyber and climate protections gaps. Submissions could include new products that support green technologies or cyber solutions with embedded tracking, for example.

The new cohort will also receive support from market experts, as well as access to advisors, trading partners and investors.

Participants have the option to work out of Lloyd’s of London or where suitable.

Meanwhile, those who have entered under the European cyber and climate solutions themes will be able to access key locations for office space within Europe.