NEXT LLOYD’S LAB COHORT ‘TO INCLUDE MANY LATE-STAGE COMPANIES’

The next cohort of Lloyd’s Innovation Lab companies will include a large contingent of later-stage companies. Lloyd’s director of innovation, Trevor Maynard, said the most recent cohort of Lab companies, cohort three, included several larger players that can work more easily with the market than young start-ups and this trend will continue with cohort four. Maynard was speaking at Insurance Day’s London market forum, where several top insurers with strong connections to the Lab said they found it considerably easier to work with later-stage companies than the newer start-ups that were a feature of the first cohorts in the Lab. The third cohort, which was announced in August this year, included catastrophe modelling open platform Oasis, data specialists Insurdata and Praedicat and Digital Fineprint, which provides data insights to underwrite small and medium-sized enterprise (SME) business. In total, 11 companies joined that cohort.