AI innovations take centre stage in Lloyd’s Lab first Americas-focused cohort

The first ever Americas-focused cohort of Lloyd’s Lab will feature 12 insurtechs dedicated to tackling challenges arising from natural catastrophe prediction to risks associated with cybersecurity. 

Lloyd’s has selected 12 insurtechs from a record number of applications spanning over 33 countries for the 12th cohort of its innovation hub, focusing on the US market. Additionally, the cohort will address two additional themes: ‘Data, Models and Processes’ and ‘New Products’.

 The incoming cohort teams will have access to the Lloyd’s Lab’s extensive network and expertise across a ten-week fast-tracked incubator to develop products and solutions to tackle some of the biggest risks faced by businesses and communities in the Americas region with the support of industry experts. 

Data, Models and Processes’ aims to tackle challenges through innovative platforms for underwriting progress within the Lloyd's market. ‘New Products’ is dedicated to fostering insurance products that can address underinsurance issues and significantly enhance resilience. 

Rosie Denée, Lloyd’s Lab senior manager, said: “Each new team in Cohort 12 brings unique innovation and expertise to the table, supporting Lloyd’s continued commitment to redefining the future of insurance.

“The Lab’s recent success with region-specific themes further validates the work the Lab is doing to deliver solutions for our global marketplace. We are thoroughly impressed with the teams who presented at Pitch Day and look forward to welcoming them through our doors.” 

The shortlisted insurtechs are: CoverYourAI, OpenCover, SAMP Risk, SHINC, Astroteq.ai, CatX, Maximum Information, Sixfold, Authentic Art, Latú Seguros, Pascal Metrics, and ZeroEyes.

“Each team of Cohort 12 brings unique innovation and expertise to the table, reflecting Lloyd’s continued commitment to redefining the future of insurance,” Denée added.

“The Lab’s recent success with region-specific themes further validates the work the Lab is doing to deliver solutions for our global marketplace. We are thoroughly impressed with the teams who presented at Pitch Day and look forward to welcoming them through our doors.” 

CoverYourAI helps enterprise teams leverage AI through its embedded parametric product protection plan, and close the AI adoption gap by making AI risk transferable so that coverholders can achieve more with AI. 

OpenCover’s real-time blockchain transaction cover protects businesses transacting on blockchain networks against technical, economic, and cybersecurity risks. 

SAMP Risk helps insurers with power machine breakdown insurance by providing insights that reduce failures in power assets and improve insurer loss ratios. It is looking to establish an MGA. 

SHINC leverage parametric insurance and deep domain expertise in the commodity and maritime markets to transform the demurrage claims process and provide risk management tools "not available in the market to date". 

Astroteq.ai offers an AI-driven earthquake forecasting system, designed to provide forecasting horizons of up to 14 days rather than mere seconds 

CatX bridges the gap between alternative capital and insurance risk. Its technology helps insurers reduce their cost of capital, brokers improve their client experiences and investors unlock uncorrelated investment opportunities. 

Maximum Information is committed to increasing societal resilience to disasters through evolving risk modelling of natural hazards. 

Sixfold is an AI solution purpose-built for insurance underwriting. It reduces manual workload for underwriters which helps make underwriting decisions with improved accuracy, transparency, and capacity. 

Authentic Art services the art & collectibles market. It streamlines the collection, processing and exchange of data and insights through its platform iamart, which connects insurers, brokers, appraisers and collectors, to enable faster service and better risk underwriting. 

Latú Seguros’ seeks to boost resilience and bridge the insurance gap in Latin America through AI-driven underwriting and risk management techniques, proprietary cyber software and modelling, and a full carrier system built on WhatsApp. 

Pascal Metrics is a data analytics company enabling clients across all healthcare sectors to improve patient safety, reduce risk, and maximise business performance. Its Virtual Patient Safety (VPS) solution enables insurers in the medical professional liability (MPL) domain. 

ZeroEyes is a proactive, AI powered, and human verified visual gun detection platform that provides situational awareness and integrates into existing digital security cameras to stop mass shootings and gun-related violence.  

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