Lloyd’s Innovation Accelerator Focuses on COVID-19 Market Response with 3 Insurtechs

Lloyd’s has started work with three insurtech startups to help the market respond to the COVID-19 pandemic.

As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has expanded the scope, process and timings for new applicants to enter its Lloyd’s Lab innovation accelerator in order to bring to market more quickly COVID-19-related products and innovations. (See related story: “How to Prepare for the Next ‘Black-Swan’ Event? Lloyd’s Has Some Suggestions.”)

Lloyd’s said it aims to model and create products that better protect customers against pandemics, and other systemic risks. In line with this effort, Lloyd’s Lab has added three new teams to a program that is exclusively focused on COVID-19, which begins on July 13. The selected teams are:

Lloyd’s Lab Fusion Programme

In addition, Lloyd’s Lab is running a three-day “Fusion Programme” from July 21 to July 23. This program has been designed to provide a setting for Lloyd’s market teams to work with insurtechs to explore and develop early-stage ideas for tackling pandemics and systemic risk. Partner insurtechs selected for this programme include Hivemind, Geollect, Ryskex and Survenus.

Source: Lloyd’s