Sotera

Cohort: Cohort 7, 2021 

Focus in insurance value chain/workflow: Risk mitigation I Point of underwriting  

Specific lines of business supported: Corporate I SME  

Founded: 2020 

Status: Operating, still in insurance 

Company type: Data provider 

Head office: North America 

Main global offices: USA, United Kingdom 

Locations served: Global 

Employee count: 1-10 

Sotera seeks to combat the illicit trade of antiquities and provide the insurance market with data to ensure that the goods they are underwriting are not stolen and allow them to accurately price this risk. To do this, Sotera delivers information about an object's provenance, risk profile, and history. 

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: New sources of risk insight - data or models  

After completing Cohort 7 of Lloyds Lab, Sotera raised a round of angel funding from a Lloyd’s insurer. Sotera is currently running pilots within the Lloyds market to test and refine the core technology and calibrate the risk pricing algorithm.