Cohort: Cohort 6, 2021
Focus in insurance value chain/workflow: Compliance & regulatory support
Founded: 2018
Status: Operating, still in insurance
Company type: Data transformation
Head office: United Kingdom
Main global offices: United Kingdom
Locations served: Global
Employee count: 11-100
distriBind is curing the insurance industry of its spreadsheet addiction, instead providing a digital workbench that improves and automates the exchange of data, eliminates reliance on spreadsheets and significantly improving data visibility in the insurance industry. It is focused on delegated authority business across all lines of business and regions. distriBind’s solutions enable insurers, reinsurers, brokers and MGAs to transfer and ingest data in their chosen format.
Primary way aimed to improve insurance processes and tools whilst in the Accelerator: Enhancing back-end data efficiencies
During its time in the Lab, distriBind gained access to multi-format claims data to train its algorithms and enhance the existing verification engine. distriBind also validated the model of ingestion and transformation across standards (i.e. non-v5.2- compliant bordereaux to v5.2-compliant data). The team also gained valuable insight into claims operational challenges posed by data errors and a lack of visibility. Our claims ingestion module, developed during the Lab, had MVP by Demo Day and is now in production with existing clients.
"The experience was transformational for distriBind - we are now a very different company to the one that initially walked into the Lab. It was great to get the increased credibility and publicity from being selected, but the experience itself was also amazing.”Dave Connors, Founder and Chief Executive Officer
Learn about all our alumni who have take part in the Lloyd’s Lab Accelerator programme.
distriBind website 
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