Innovation Training:
The bootcamp for
new product development

The time commitments for the programme are designed to accommodate a full-time role. The total time commitment will average 3-5 hours per week.

The programme will be delivered through in-person sessions. There will be a weekly fixed compulsory in-person workshop session, and a one-hour coaching session (organised by your team) which can be done either in-person or online. We recommend that the more time spent in-person with our innovation coaches and collaborating with your team, will maximise your time on the programme.

Our programme consists of engaging full and half-day workshops, deep dive sessions, and weekly coaching to gain practical skills and industry insights. A detailed programme structure for your specific Venture can be requested.

Our Innovation Training delivers concrete results you can immediately apply in your role: scoped steps forward for new products, complete with market testing evidence and clear next steps. You'll walk away with CII-accredited professional development, a practical innovation methodology, and an increased valuable cross-market network.

Our Innovation Training welcomes insurance professionals with established connections to the Lloyd's market. Eligibility for underwriters requires affiliation with a Managing General Agent (MGA) or a Lloyd's syndicate. For brokers, while Lloyd's broker designation is not mandatory, your organisation must have an active relationship placing business through Lloyd's.

Our Innovation Training programme is CII accredited, providing 21 CPD hours and is aligned to the following learning objectives:

• Develop an approach to innovation that is customer-centric and data-driven, with progress measured through self-assessments and coach feedback at the end of the programme.
• Adopt a suite of skills, tools, processes, and behaviours that enable and empower you to mitigate risk in innovation, demonstrated through practical applications during the programme.
• Extract, interpret, and critically analyse insights from primary data, evidenced by team presentations and data analysis following experimentation.
• Create and deliver robust presentations and empirical recommendations as a team, with clear alignment to programme principles and objectives, demonstrated in the final presentation.

Participants typically enter the programme with broad thematic interests they wish to explore, such as AI, autonomous vehicles, space technology, or other emerging fields. Throughout the programme, teams conduct extensive research to identify and refine specific hypotheses, which they then systematically validate or invalidate potential opportunities. If you already have a specific idea in mind, we strongly recommend assembling a dedicated team to enter the programme with, to effectively address that specific challenge. We require each team applying as a group, to consist of at least two individuals.

Project teams are formed around a shared problem statement or opportunity area, ensuring a balance of expertise and experience across roles (e.g. brokers, underwriters, subject matter experts). When applying, you’ll select a specific topic area or share with us the types of opportunities that interest you. Teams are formed in advance by the Lloyd’s Lab team. If you want to join our Innovation Training with a pre-formed team, please contact us at lloydslab@lloyds.com.

Absolutely! Whilst our Innovation Training is highly collaborative, if you're concerned about working with competitors, you can submit your own team to research an opportunity, to avoid having participants from external companies on the same team as you. We require team submissions to include at least two people committed to the full programme duration, with additional participants able to join on an ad-hoc basis at key stages of the programme.