Armilla AI

Cohort: Cohort 10, 2023

Focus in insurance value chain/workflow: Point of Underwriting 

Specific lines of business supported: Speciality  

Founded: 2020

Status: Operating, still in insurance

Company type: MGA 

Head office: Canada

Main global offices: Canada

Locations served: Global

Employee count: 11-100

Armilla AI is the world’s first Managing General Agent (MGA) and Lloyd’s of London coverholder dedicated solely to AI liability insurance. Specializing in coverage for AI-specific risks, including algorithmic errors, model drift, and generative AI “hallucinations”, Armilla protects both enterprises and AI vendors from operational and legal exposure.

Our deep technical expertise in AI risk, demonstrated through independent model evaluation and regulatory-grade audits, enables us to underwrite AI exposures with accuracy and comprehensive reasoning. By combining this domain knowledge with innovative insurance products, Armilla empowers organizations to confidently adopt and deploy trustworthy AI at scale.

Primary focus product area whilst in the Accelerator: AI.

Armilla AI designed two risk transfer products for AI risks during the Accelerator: AI Product Warranty and AI Liability Insurance. During the Lab, Armilla AI secured further capacity from Lloyd’s syndicates.