The team at Lloyd's have selected a truly diverse cohort, with solutions that have application across the market.
The evolution of the cohort over the coming weeks and months is definitely worth paying attention to.
The teams joining the Lab will gain access to the world’s largest market for specialist insurance and reinsurance, in support of its digital evolution... Over the ten weeks, the selected Lab teams will have access to a co-working space located in the Lloyd’s building in London, potential funding and the chance to develop products, platforms and processes that will help transform Lloyd’s into an increasingly technology-driven market. [John] Glen [MP] said: “InsurTech is booming. There was $724 million of InsurTech investment globally in the first quarter of 2018 and the UK attracted 12 percent of that funding, placing it second only behind the US. We’re doing everything we can to maintain this momentum and cultivate innovation in the sector, but ultimately, it is down to firms like Lloyd’s to take the lead, and that’s exactly what they’re doing...”