Toronto, ON (Apr. 7, 2020) \u2013 Lloyd\u2019s has selected twelve new InsurTech disruptors to join the global (re)insurance market\u2019s innovation accelerator, as part of Lloyd\u2019s commitment to becoming the most technologically advanced insurance marketplace in the world.<\/p>\n
More than 190 applications were received from across the world for the fourth cohort of the Lloyd\u2019s Lab, which starts on 27 April 2020. The twelve successful teams were selected after presenting their ideas in a competitive process during a virtual pitch day on April 2. The start-ups will be focused on four key themes: data and models; new insurance products and markets; the future of transportation; and cyber.<\/p>\n
The Lloyd\u2019s Lab is the home of InsurTech and is a leading hub for technology-led innovation, with more than 500 international InsurTechs applying to join the Lab in its first two years. Successful companies join the Lab for a ten-week programme, where they work with insurers in the Lloyd\u2019s market to develop and test their ideas, using the expertise and experience of their mentors to add value to the Lloyd\u2019s market.<\/p>\n
In the first three cohorts, start-ups, entrepreneurs and businesses have presented ideas ranging from live-streaming drones to event-based parametric insurance solutions for catastrophic flooding and on-demand insurance for the gig economy.<\/p>\n
In 2019, Lloyd\u2019s invested in Layr, a cloud-based platform that helps small businesses buy liability insurance. Other success stories include Parsyl, which provides an internet-of-things sensor that can help protect sensitive shipments; Flock, which uses real time weather, building density, and operating temperatures to understand the risks associated with drone flights; and ClimaCell, which uses micro-weather forecasting to help customers reduce their exposure to meteorological events.<\/p>\n
Since the launch of the Future at Lloyd\u2019s strategy, the Lab has expanded its scope to promote greater collaboration between Lloyd\u2019s expert underwriters and brokers, customers and capital providers.<\/p>\n
Trevor Maynard, Head of Innovation at Lloyd\u2019s, said:<\/p>\n
\u201cAll twelve of the InsurTechs we have selected bring something different and unique. I am thrilled to be working with some of the brightest and best talent from the InsurTech sector to help the Lloyd\u2019s Market develop new ideas that better serve our customers by developing solutions to the problems they face today. As the COVID-19 crisis continues its devastating march around the world it has never been more important for us to pull together, to use our combined resources and creativity to make a difference.\u201d<\/p>\n
Congratulations to the following teams for becoming part of the Lloyd\u2019s Lab cohort four:<\/p>\n
BOXX Insurance Inc. is a new type of insurance company for a new type of risk. We work closely with the most respected insurance and technology partners to provide solutions that help small business clients manage their total risk exposure \u2013 starting with cyber risk.<\/p>\n
Our flagship product, Cyberboxx™, is the first fully-integrated cybersecurity and insurance solution for small-to-midsized businesses.<\/p>\n
Cyberboxx™ products are available currently through insurance brokers and affinity partners in Canada, Latin America, and Singapore.<\/p>\n
To learn more, visit boxxinsurance.com<\/a>.<\/p>\n Lloyd\u2019s is the world\u2019s leading insurance and reinsurance marketplace. Through the collective intelligence and risk-sharing expertise of the market\u2019s underwriters and brokers, Lloyd\u2019s helps to create a braver world.<\/p>\n The Lloyd\u2019s market provides the leadership and insight to anticipate and understand risk, and the knowledge to develop relevant, new and innovative forms of insurance for customers globally.<\/p>\n It offers the efficiencies of shared resources and services in a marketplace that covers and shares risks from more than 200 territories, in any industry, at any scale.<\/p>\n And it promises a trusted, enduring partnership built on the confidence that Lloyd\u2019s protects what matters most: helping people, businesses and communities to recover in times of need.<\/p>\n Lloyd\u2019s began with a few courageous entrepreneurs in a coffeeshop. Three centuries later, the Lloyd\u2019s market continues that proud tradition, sharing risk in order to protect, build resilience and inspire courage everywhere.<\/p>\n For more information, visit lloyds.com<\/a>.<\/p>\n Source: Lloyd\u2019s<\/i><\/p>\n Tags: accelerator<\/a>, Boxx Insurance<\/a>, Innovation<\/a>, InsurTech<\/a>, Lloyd’s<\/a> Lloyd\u2019s selects 12 new InsurTech disruptors, including Canadian BOXX Insurance, to join innovation accelerator Toronto, ON (Apr. 7, 2020) \u2013 Lloyd\u2019s has selected twelve new InsurTech disruptors to join the global (re)insurance market\u2019s innovation...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18057"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=18057"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18057\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=18057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=18057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=18057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About Lloyd\u2019s<\/b><\/h4>\n
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