Lloyd's Lab unveils COVID-19 program

Lloyd's Lab unveils COVID-19 program | Insurance Business

Lloyd

Lloyd’s of London’s innovation accelerator Lloyd’s Lab will be holding a COVID-19 program to help start-ups and the insurance marketplace quickly bring to market coronavirus-related products and innovations.

“As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has reimagined and expanded the scope, process, and timings for new applicants to the Lloyd’s Lab innovation accelerator,” explained the centuries-old exchange.

The trio of participants coming onboard on July 13 are Metabiota, Praedicat, and Dialogue. Metabiota is advancing the science of modelling infectious disease outbreaks and estimating their socioeconomic effects, while Dialogue is focussed on credit and political risk.

Praedicat, a Cohort 3 alumnus, plans to develop a suite of cross-line clash COVID-19 scenarios. The goal is to assist the market in identifying and tracking the emergence of liability risk related to the coronavirus pandemic.

Meanwhile a separate three-day ‘Fusion’ program will begin on July 21. Lloyd’s market teams and insurtechs Hivemind, Geollect, Ryskex, and Survenus will be exploring early-stage ideas for tackling pandemics and systemic risk.