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Lloyd’s announces investments in innovative insurance solutions through Lloyd’s Lab’s Central Fund allocation

07 Feb 2024

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has today confirmed the first two investments from its Central Fund private markets allocation which will support two Lloyd’s Lab alumni, Axio and REOR20 – to develop their insurance solutions within the London insurance market.

Investing in our market

The allocation from the Central Fund is dedicated to investing within certain Lloyd's Lab alumni who can support the Lloyd's market with innovative technologies and solutions. The companies announced today bring unique takes on cyber physical damage and detailed, automated risk modelling, with the potential to shape and improve future business processes for the global insurance industry.

In line with the United Nation’s Sustainable Development Goals*, the financing follows Lloyd’s strategy for responsible investment and provides increased expertise in emerging climate risks for the market. 

Growing great ideas

The Lloyd’s Lab is a global hub for insurance innovation enabled by an ecosystem of partnerships and programmes which help the Lloyd's market to accelerate innovation and develop solutions to the existing and emerging challenges of our time. The Accelerator is a 10 week fast-track programme where InsurTechs can test new concepts, ideas and products with the support of experts from the world’s largest insurance and reinsurance market.

“As part of Lloyd’s ongoing commitment to innovation, today’s announcement is an excellent example of the power of Lloyd’s Lab’s accelerator programme, which forms an integral part of our innovation hub located in the heart of The City. We look forward to driving the increased prominence of the Lab in its mission to innovate the market, through our support and backing of companies with exceptional solutions.”
Dawn Miller, Lloyd’s Commercial Director
“The Lloyd's Lab is a centre of innovation for the insurance industry giving us as investors the opportunity to back great companies ourselves where we have a strong shared interest for our industry. We're able to generate attractive return on capital and aid the growth of these companies for the benefit of the market.”
Eleanor Bucks, Lloyd’s Chief Investment Officer
“I’m honored to welcome Lloyd’s to the Axio investor family. One of our founding goals was to help the insurance industry better tackle cybersecurity risk, and the investment support from Lloyd’s is evidence of our unique ability to deliver on that goal. We’re now excited to work even more closely with the Lloyd’s Market to help it deliver better coverage solutions, especially for the most challenging areas of cybersecurity risk.”
Scott Kannry, Axio CEO
"Lloyd's investment in our innovative tech startup is not just a financial backing; it's an endorsement from the heart of the global insurance ecosystem. Lloyd’s commitment to excellence propels aspirations into achievements, and provides limitless opportunities for the future.”
Danny Chatziprodromou, REOR20 CEO and Founder

Notes

The investments will remain as undisclosed sums, but represent non-controlling stake in the companies with an approximate value of between $50k-250k.

About Axio

Axio helps businesses manage their cybersecurity performance, by leveraging tactics such as maturity assessments, cyber risk quantification insurance coverage analysis, and automated program planning.

About REOR20

REOR20 develops the next generation of flood models, providing highly accurate hazard information at significantly lower cost. To achieve this goal, they combine high-fidelity computational engineering tools with innovative AI methodologies, enabling detailed modelling while employing minimum resources.