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​Cactus (Marmalade)

Key facts

Cohort: Cohort 8, 2022 

Focus in insurance value chain/workflow:  Point of underwriting  

Founded: 2021 

Status: Operating, still in insurance 

Company type: Administration system 

Head office: Bermuda 

Main global offices: Bermuda 

Locations served: Global 

Employee count: 1-10 


Cactus provides an underwriting and broking platform, Marmalade, for commercial casualty and specialty insurance. Its data capture and pricing platform allows underwriters to price risks themselves and receive submissions directly from brokers. Marmalade provides a standardised submission architecture which allows strategic oversight and portfolio-level analysis from insurers’ actuarial team, reducing bottlenecks and turnaround time. 

Lab activity

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: Improving policy and claims admin I Improving UW tools and processes I Enhancing back-end data efficiencies  

During Cactus’ time in the Lab the team developed a prototype for transferring insurance-related data in a machine-readable format between brokers and carriers. During the prototype phase, a broker transmitted a speculative deal to an insurer on the behalf of a buyer, and the insurer provided a competitive bid. The buyer ultimately received a significant reduction in their renewal quote, saving tens of thousands of dollars. 

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Learn about all our alumni who have take part in the Lloyd’s Lab Accelerator programme.