Insurtech incubator Innovative Risk Labs enters Lloyd’s market

Innovative Risk Labs (IRL), an insurtech incubator that provides support to start-ups from pre-launch through to pivot, has entered the  Lloyd’s market.

Innovative Risk Labs has obtained a licence to operate as a Lloyd’s broker.

The business is led by former Lloyd’s Lab chief Ed Gaze (pictured), who after running the Lloyd’s Lab incubation programme for four years, joined IRL in 2022.

IRL was established in 2013 with the aim to launch, incubate and support insurtech solutions in the UK, with a focus on start-up intermediaries.

The company is in the process of securing its first few Lloyd’s capacity deals.

“We are delighted to announce that we are now officially a Lloyd's broker!,” IRL said in an announcement on LinkedIn. “Our vision is to be the insurtech broker, and being able to work with the hugely innovative underwriters at Lloyd's is a huge part of this.

“We're working on getting our first few Lloyd's capacity deals live in the coming months.”

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