Lloyd’s, the world’s leading marketplace for commercial, corporate and speciality risk solutions, today announces the 12 teams that will join the 11th cohort of the Lloyd’s Lab, the InsurTech accelerator hub for developing innovative insurance products in the Lloyd’s market.
Following the success of the first regional theme in Cohort 10, the Lab have announced ‘Asia-Pacific Climate Risk, Cyber and Sustainability’ as the new theme for Cohort 11. In addition, ‘Data & Models’ and ‘New Products’ will be carried forward, with each InsurTech being aligned with one of the three themes.
The new theme introduced this year will focus on developing solutions to some of the biggest risks faced by businesses and communities in the Asia-Pacific regions.
The Lloyd's market is also focused on enhancing underwriting efficiency through improvements in risk assessment tools, portfolio management, and claims handling processes. The ‘Data & Models’ theme aims to tackle these challenges by providing innovative platforms to drive progress within the Lloyd's market.
Similarly, the ‘New Products’ theme is dedicated to fostering insurance products that can address underinsurance issues and significantly enhance existing coverages.