Lloyd’s Lab announces 13 InsurTechs joining first ever European-focused cohort

The successful teams and their relevant themes are:

European Digital and Climate Solutions

• Armilla AI – a leading provider of Responsible AI technology, empowering vendors and enterprises to guarantee the quality of their AI products an mitigate associated risks.
• REOR20 – have developed a breakthrough AI system for flood risk understanding and mitigation based on the physics governing floods. The solution combines accuracy with unprecedented scaling capabilities, providing high resolution hazard data down to the individual building element.
• SIMULYTIC (A Siemens AG Venture) – provides (re)insurers risk exposure insights for automated vehicle (AV) deployments. The Simulytic platform contextualises and AV deployment with digital replicas and models, simulates a rich synthetic driving history using their proven tech and analyses the operational lifetime of Avs to support pricing a policy and scenario-based insurance products.
• Value.Space – deliver satellite-based risk assessments, it has opened a up a new and proven capability that provides a x10 faster and x25 more cost-effective way to assess risks of assets such as dams, mines tailing storage facilities and real-estate.

Data and Models

• Axio – a cyber risk assessment and quantification focused company which encompasses consultancy, professional services and SaaS.
• Diesta – a next-generation payment reconciliation engine for the insurance industry. Their technology links internal systems and external partners onto one financial ledger for an efficient and fast processing of insurance premiums.
• Intelligent AI – brings together deep insurance domain expertise, together with innovation and data science to transform the commercial property underwriting sector globally with Digital Twins of Risk.
• PolArctic – an oceanographic, and data science company with a focus on creating tailored products for the Arctic. They are identifying and creating solutions to business and policy questions about the Arctic through the use of AI and Machine Learning techniques.

New Products

• Aanika Biosciences – a biotechnology company dedicated to developing food safety technologies. As Aanika has created a multi-trigger parametric food recall policy designed to embed with its microbial barcode tags and provide coverage against financial loss resulting from a food pathogen event.
• FireBreak – a team dedicated to filling both the data and protection gaps in wildfire risk. Their mobile app for self-inspection encourages mitigation while generating first-party, on-the-ground data for underwriting.
• Gabriel – a next-generation active threat solution that dramatically reduces the risk of an incident costing unnecessary lives and damage.
• Signal Intelligence - work with maritime organisations who want to increase operational efficiency and be more environmentally responsible; they harness the power of IoT to unlock siloed vessel performance data and deliver value to their partners
• spacebands – create software and wearable technology that makes workplaces safer.

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