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​Aanika Biosciences

Key facts

Cohort: Cohort 10, 2023

Focus in insurance value chain/workflow: Point of underwriting 

Specific lines of business supported: Speciality  

Founded: 2018

Status: Operating, still in insurance

Company type: Insurer

Head office:  USA

Main global offices: USA

Locations served: Global

Employee count: (11-100)


Aanika Biosciences has created biological tags that allow food to be traced through supply chains and the risk of pathogenic contamination to be mitigated. It has developed a parametric food recall and contamination insurance policy for food producers, which uses biotechnology as part of the parametric trigger. This product will greatly accelerate the process of pathogen identification from days to weeks down to a few hours and minimise cost for insureds. 

Lab activity

Primary focus product area whilst in the Accelerator: Parametric I Supply chain/NDBI

In the Lab, Aanika created a new rating model that streamlined its underwriting process and parametric policy form. Capacity was provided during or soon after the Cohort. 

‘Participation in the Lloyd’s Lab proved transformative for Aanika. The adept leadership and mentorship provided strategic guidance. Access to industry experts enriched our understanding of the market landscape. Collectively, this led to achievements which amplified our reach and expanded our opportunity to further innovate.’
Catherine Besselman, Senior Vice President, Underwriting

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