L Marks-guided Lloyd’s Lab Global InsurTech Accelerator Finalizes Cohort 8

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on July 18, 2022

Startups are always looking for a way to enter the market and make a name for themselves, and one of the best ways is to join startup accelerators, also known as seed accelerators. These programs are cohort-based and offer mentorship and knowledge used to grow and push for a fixed period, ending in a public pitch. And now, Lloyd’s Lab has finalized its Cohort 8 InsurTech accelerator program, which you can learn more about below.

The L Marks-guided Lloyd’s Lab InsurTech accelerator program has finalized a dozen tech startups from across the globe for Cohort 8. Lloyd’s Lab is an InsurTech accelerator program that aims to help innovative ideas gain traction and success in the market. It is located in the heart of the world’s specialist insurance market, giving InsurTechs access to a coworking space in the iconic building and the chance to develop their ideas alongside their target audience. The program is delivered over the course of ten weeks, and start-ups, scale-ups, and incumbent companies are given the unique opportunity to work with Lloyd’s market experts to shape their innovation. Lloyd’s Lab was shaped by global innovation enabler L Marks, a leading global innovation specialist which has created over 80 programs with its partners in Europe, Asia, and North America.

Daniel Saunders, Chief Executive at L Marks, said, “Lloyd’s Lab has always welcomed “startups” of all stages, and this cohort has been no different. Over the past ten weeks, we’ve created new relationships that will see new solutions and technologies from these 12 startups deployed into the insurance market. It’s been the close collaboration between Lloyd’s and L Marks, and open collaboration between the insurance market and the startups, that has been powering open innovation in the insurance sector and supporting the market’s shared goal of sharing risk to create a braver world.”

Check out the following sections to see the startups that finalized Cohort 8.

Kita

Provides insurance for the voluntary carbon markets to enable more high-quality carbon removal solutions and generate positive climate impact.

OTONOMI

A blockchain-enabled parametric insurance platform that transforms the way cargo policyholders get compensated by compressing resolution times from 45 days to 45 minutes, lowering administrative costs by more than 50% for both clients & carriers, and providing algorithmic underwriting solutions.

Location: Brooklyn, US

Persefoni

A global software company whose SaaS platform enables companies and financial institutions to easily meet stakeholder and regulatory climate disclosure requirements and requests.

Location: Phoenix, US

Privateer Space

Delivers a space applications technology focused on space safety, sustainability, and security in near-earth space.

Location: Kihei, USA

Marmalade by Cactus LTD

A simple deal pricing and data capture system, built for underwriters.

Location: Hamilton, Bermuda

Kettle

A Bermuda-based Reinsurance MGA that aims to protect the world against climate change using deep learning and reinsurance.

Location: Hamilton, Bermuda

FRISS

Helps insurers gain a deeper understanding of the risk in their portfolio, stay compliant, detect fraud, and make better decisions across the end-to-end underwriting and claims lifecycle.

Location: Utrecht, The Netherlands

Definely

Is a Microsoft-backed software company that is redefining how contracts are understood. Definely’s tools shorten the contract lifecycle and time to revenue by optimizing how professionals draft contracts.

Location: London, UK

ClearConnect Solutions

Through its proprietary technology, ClearTrac, it gives stakeholders in the transportation and insurance industries a 360 Degree, real-time view into the risk associated with drivers and fleets out on the road.

Location: Purcellville, USA

Baker Tilly

Quantum is a business interruption claims processing platform that delivers seamless, data-driven claims. Paired with hands-on, personalized service from experienced Baker Tilly forensic accountants, Quantum delivers the benefits of automation with a more personal touch.

Location: Chicago, USA

InsurX

Is the digital capacity exchange for the complex commercial insurance market. It enhances broker and carrier follow capacity trading using proprietary algorithmic matching technology.

Location: London, UK

Swiss Re

Swiss Re, one of the world’s leading wholesale providers of reinsurance, insurance, and other insurance-based forms of risk transfer, has joined Lloyd’s Lab. The team will be working in the Lab as a space to develop a clickable prototype to collect and view private companies’ data, relevant to agreed ESG metrics.

Location: Zurich, Switzerland

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By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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