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Cohort 8

For Cohort 8 of the Lloyd's Lab we are looking for start-ups, scale-ups, or entrepreneurs addressing the broad challenges laid out below.

The first two, Decarbonisation and Supply Chain, are focussed on helping us launch new insurance products alongside the Lloyd's Product Launchpad. Then we have a focus on solutions to help us with Claims, and the evergreen theme around data and models – essentially this refers to new sources of data and new ways of modelling data.

Take a look at the below, and if you’re interested, you have until 23:59 on 20 February to apply.

Decarbonisation and Climate Change

Although climate change poses unprecedented systemic risk, it is one which – through partnership and accelerated action – we have the means to address. Therefore, in the next cohort of the Lloyd's Lab, we are looking for new insurance products which can support industry in the transition to a low carbon economy. 

This theme is a search for new insurance products that we can offer our customers. For example, this could be a new product to help protect those who are creating renewable energy, or insurance for the businesses who are experimenting with carbon capture technologies. Perhaps you have data which we can use together to build a parametric insurance product or can help us create insurance for the use of new, low-carbon materials.

Perhaps you’ve been working on an insurance product which takes some of the risk off businesses who are decarbonising their manufacturing processes or working to reduce their marine and cargo emissions. All these are relevant for this theme.

In this theme we are also interested in insurance products which can help our customers manage risks which are caused by or exacerbated by climate change. For example, less predictable weather patterns are causing problems with crops; intense heat and droughts are triggering enormous wildfires; and storms are causing more damage. If you have a new insurance product which can help manage these risks, we’d like to hear from you.

The recently published Lloyd’s Climate Action Roadmap sets out in more detail how Lloyd’s plans to support the global transition to net zero emissions. If you have a solution that you think could help the Lloyd’s market tackle these challenges, apply for Cohort 8 today.

Supply Chain

The past few years have seen huge disruptions to the world economy. Globalisation has seen supply chains develop into complex networks which have been particularly hard hit under internal & external pressures, creating delays and resource shortages. These pressures have also heightened geopolitical tensions which directly impact international supply chains.

These events are also precipitating a shift in the way that businesses work. Small businesses are looking more locally for their supply chains and large corporations are looking to better understand their complex supply chain networks in order to better weather future shocks. For many, the cost of doing business will come under pressure meaning the ability to match risk to capacity needs to be slicker, and there needs to be new products to cover new risks.

For Cohort 8 we’re looking for new insurance products that can help us support our customers in dealing with the new problems arising from supply chain disruption.

  • Can we offer solutions that can help them de-risk their businesses when the protections they’ve built into their supply chains fail?
  • Do you have a product that can work to indemnify businesses against loss as a result of supply chain disruption?
  • What technologies can help our customers better understand and measure the risks in their supply chains or to redesign them to make them more resilient to emerging risks and geopolitical tensions?
  • How can we help businesses respond to the increased costs and timelines as a result of supply chain pressures?
  • Do you have a solution or product that can help deal with the non-damage business interruption effects of a supply chain shock e.g. reputational harm, brand damage, intangibles, intellectual property etc?

If you have a solution that can better help us understand, manage or protect supply chains and the effects of their disruption, we want to hear from you.

Any solutions which play to the above description but are focussed more on providing data rather than creating insurance products, should look to apply to our Data and Models theme.


The best ideas are often the ones that you aren’t expecting. We’re always keen to hear from anyone with a new insurance product which doesn’t fit in the above themes. If you have an innovative product that you think could make a powerful difference in the market, you can apply to the Wildcard theme.

This could be anything from space weather, DeFi & digital currencies, smart cities or anything else!

Please note though – this theme is all about insurance products which we can develop and sell to our customers.

Data & models

This has been a theme in every cohort so far because we always get so many interesting applications. The scope is intentionally broad, but we have given some details below, and you can also refer to our cohort 5 page for a case study and further examples.

For the Lloyd’s market, profitable underwriting depends on continually improving the tools and techniques used to select and assess risks, manage risk portfolios and optimise the claims handling process. Data is the lifeblood of the underwriting process and, with an ever-increasing range of sources available, we want to make sure we’re looking beyond our core data sets to power smart decision-making in the market.

We’d like to hear from start-ups who can find and help us tap into alternative data sets to paint a more accurate picture of risk and help the market underwrite more profitably. Ideas could range from finding new data sources that highlight high risk policies for more accurate underwriting, to predicting future claims based on search engine trends, or aggregating existing data sets in new ways to reveal hidden trends.

We are also interested in how new algorithms, models, and statistical techniques can help us to create a more bespoke experience, gain a deeper understanding of risk, and address the protection gap. Rather than just seeking new insights from new data, we are also seeking new insights from existing data.


There are several common challenges faced by the claims teams in the Lloyd's market that we would like to tackle in our next cohort. We believe these can be widely grouped into a two key themes; Operational Efficiency and Customer Experience:

Operational Efficiency and straight-through processing


Automated policy coverage for non-complex claims

  • A valuable first step for this could be to help us understand policy coverage for non-complex risks

Double keying data

  • Too much data is entered multiple times through the insurance value chain.
  • This can be true within an organisation, and across organisations.
  • Within organisations, claims details may be entered into multiple systems for different parts of the processing. Maybe that starts with the underwriter who writes the risk and goes through the claims and payments teams.
  • Across organisations is another market challenge, or for you – opportunity. The Lloyd's market is a syndicated market – a single claim could be seen and processed by multiple insurers and parties in the value chain. How can we optimise this?

Customer experience


Keeping our customers updated

  • We can improve our customer experience, and reduce queries, by giving them access to the live status of their claims
  • What solutions do you have which could be suited to the Lloyd's market?

We also think the claims community would benefit from a centrally approved database of InsurTech vendors.

Approved InsurTech vendor panel

  • Bringing on board trusted, new solutions quickly could help with our efficiency
  • A central database of claims related InsurTechs would be valuable for the market. This was at one time part of the original Blueprint work, but is no longer being worked on
  • What solutions are out there which can help the market quickly find InsurTech partners, ideally with a seal of approval from other insurers?

Apply for Cohort 8

If you are interested in applying, you have until 23:59 GMT on 20 February to submit your application.





Scouting closes

Scouting will close at midnight on 20 February 

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Pitch day

Pitch day will begin on the week commencing 21 March

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Programme starts

This will be the first week of the new programme

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Demo day

The teams who made it through will get the chance to show the market what they achieved during the programme

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