Specialist insurance and reinsurance market Lloyd’s is on the lookout for the world’s most promising insurtechs.
The innovation sandbox, Lloyd’s Lab, has launched a global search for tech talent. Those selected will be given a chance to partner with the Lloyd’s market to help it keep up with the latest advances in re/insurance. The talent search is the first in Lloyd’s 330-year history that it is opening its doors to the global tech start-up and entrepreneur community.
According to a release, Lloyd’s global tech talent search will be led by applied corporate innovation specialist L Marks. Over the course of 10 weeks, selected entrepreneurs and start-ups will be given the opportunity to work with Lloyd’s market experts to “shape the next big innovation.”
Chosen participants in the program will be given access to a state-of-the-art co-working space within the Lloyd’s building in London, as well as funding and the chance to create products, platforms, and processes that would transform Lloyd’s into a tech-driven market.
Lloyd’s Lab will first focus on four key themes, developed with the Lloyd’s market and with support from The Boston Consulting Group. There will also be a wildcard category, a release said.
The themes are:
- Enhancing the customer experience;
- Building a relationship-driven culture for the digital age;
- Powering data-driven underwriting; and
- Creating smart insurance products.
Lloyd’s Lab initiative was first announced in February, with the goal of designing technology-driven solutions for the market.
“By creating a Lloyd’s innovation lab, designed to bring in creative talent from around the world to work in partnership with Lloyd’s businesses and the corporation, we can ensure the market continues to innovate as the world moves into an increasingly digital, data-driven future,” said Lloyd’s CEO Inga Beale in an earlier statement.