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Welcome to Lloyd’s Lab

The Lloyd’s Lab is a fast-track, fast-fail environment where new concepts, ideas and products can be tested  with the support and active involvement of the world’s specialist insurance marketplace.  Coming in September this year, the Lloyd’s Lab will focus predominantly on designing technology-driven solutions to meet the unique and rapidly changing needs of the Lloyd’s market.

Applications are now closed

Working with Lloyd’s

Lloyd’s is the world’s specialist insurance and reinsurance market.

Over ten weeks, start-ups will be given the unique opportunity to work with Lloyd’s market experts to shape the next big innovation. Located in the heart of the world’s specialist insurance market, the Lloyd’s Lab will give start-ups access to a state of the art coworking space, potential funding and the chance to develop their ideas alongside their target audience.

As a 330 year-old insurance market , we want to share our centuries of collective experience and knowledge with game changing start-ups who have new ways of thinking. We’ll give you access to the market so you can develop products, platforms and processes helping transform Lloyd’s into a  digital data-driven market.


Enhancing customer experience

One powerful intelligence asset the market has is data which contains a wealth of insight waiting to be uncovered. We are looking for innovative digital solutions to help unlock this knowledge and improve the flow of information between underwriters and insureds.

These insights might be used to better match policyholders needs to products, improve the claims experience, identify new types of cover, inform better underwriting decisions or inform any type of initiative that delivers commercial benefit.

Areas of interest related to this theme:

  1. Identifying key claim drivers across policyholder industries, using detailed analysis of claims documents to build insight.
  2. Identifying claims that are currently not always fully covered to help us close the insurance gap.
  3. Developing a risk map for various policyholder industries and markets to reveal the extent to which coverage is, and is not, available.

Building a relationship-driven culture for the digital age

The relationships and trust built through the unique culture of the Lloyd’s market is one of its greatest strengths.

While broker-underwriter interaction in the market benefits from the unique face-to-face trading environment, there is an opportunity to explore how the Lloyd’s market can harness digital communications and platforms to encourage more efficient information sharing and decision making. For example, it is normal at Lloyd’s to queue to see an underwriter or share policy information on paper, in person.

From making queueing more efficient, to developing new communication tools or channels, we would like start-ups to present solutions which can help streamline trading processes, while preserving our strong relationship-based, face-to-face culture.

Areas of interest related to this theme:

  1. Developing a suite of interaction tools that offers a range of new channels that complement face-to-face, email and phone communication. The aim is to support e-trading in whichever way is convenient and efficient for the underwriters and brokers and their support teams. The tools should support the full range of data security and compliance rules.
  2. Identifying a mechanism that radically improves the efficiency of queuing to see underwriters, through using new technology and changing market norms.
  3. Start-up led: By Lloyd’s sharing the end-to-end underwriting process flow and known pain points, start-ups can identify potential opportunities for improvement that we have yet to recognise, helping us achieve an increasingly digital, seamless business flow.

Powering data-driven underwriting with new insight sources

For the Lloyd’s market, profitable underwriting depends on continually improving the tools and techniques used to select and assess risks, manage risk portfolios and optimise the claims handling process. Data is the lifeblood of the underwriting process and, with an ever increasing range of sources available, we want to make sure we’re looking beyond our core data sets to power smart decision-making in the market.

We’d like to hear from start-ups who can help us tap into alternative data sets to paint a more accurate picture of risk and help the market underwrite more profitably. Ideas could range from finding new data sources that highlight high risk policies for more accurate underwriting, to predicting future claims based on search engine trends or aggregating existing data sets in new ways to reveal hidden trends.

Areas of interest related to this theme:

  1. Identify additional data sources that will benefit focus classes of business by informing better risk selection. These can be augmentations to current data sets, or entirely new data sources or proxy data items. The aggregation of several syndicates’ claims histories can be used to better test the strength of signal in the data.
  2. Creating tools which allow the underwriter to more efficiently see results of relevant claims immediately at the point of underwriting.

Creating smart insurance products

With fixed coverage periods and defined schedules of cover, traditional insurance products are static in nature. However, the risk needs of policyholders can be dynamic and, in an on-demand era, expectations are shifting, with consumers seeking solutions that can adapt to fit their changing requirements.

To help the Lloyd’s market retain competitiveness and lead the way with the next generation of insurance products, we are seeking ideas that help us identify product opportunities and support syndicates in offering smart insurance solutions. From platforms that manage the administration of on-demand insurance, to faster ways of modifying coverage mid-policy or automating claims payments based on verified event triggers, we are looking for solutions that will help the market meet the constantly evolving risk transfer needs of policyholders.

Areas of interest related to this theme:

  1. Creating a ‘radar’ that identifies opportunities related to new and emerging risks – e.g., smart cities, solar flares, sharing economy, gig economy, decarbonisation, nano-tech, new energy – and sizes the nature of the opportunity.
  2. Reviewing where customers perceive the risk transfer value to be in these emerging area.
  3. Providing components of a platform for smart contracts.
  4. Creating tools to identify a portfolio of target risks using external data.


We don’t know what we don’t know, but we do want to stay open to out-of-the-box ideas. The wildcard is a start-up’s chance to show us something we didn’t even know we needed.

This category is intended to capture any innovations that don’t fit within one of our key themes but could make a powerful difference to the way we do business and our bottom line.

What's on offer

Mentorship from Lloyd’s market experts and senior leadership

A chance to develop your idea at scale in partnership with the largest insurance market in the world

The opportunity to grow your network within global insurance and the InsurTech sectors

Product validation from Lloyd’s stakeholders

Potential funding from the Lloyd’s Lab investment pot

Your own desk in a state-of-the-art co-working space located in the iconic Lloyd’s building in London

Access to a pool of mentors and experts with support matched to your unique requirements


22 July 2018

Applications Close

Applications will be reviewed from this date, and we’ll let you know if you have been shortlisted within three weeks.

03 September 2018

Pitch Day

Pitch Day is your start-up’s chance to present your idea to Lloyd’s senior leadership and market representatives for the chance to win a place in the Lab.

08 October 2018

Programme Starts

The 10-week intensive collaboration between you and the Lloyd’s Lab starts here, supported by market experts and external mentors.

12 December 2018

Demo Day

Where you’ll show us what your start-up has achieved over the previous 10 weeks and present your proposal for future engagement with the Lloyd’s market

About Lloyd's

Lloyd’s is the world’s specialist insurance and reinsurance market. 

With expertise earned over centuries, Lloyd’s is the foundation of the insurance industry and the future of it. Led by expert underwriters and brokers in more than 200 territories, the Lloyd’s market develops the essential, complex and critical insurance needed to underwrite human progress. 

Backed by diverse global capital and excellent financial ratings, Lloyd’s works with a global network of over 4000 insurance professionals to grow the insured world – building resilience for businesses and local communities and strengthening economic growth around the world.

In association with

L Marks

L Marks is a corporate innovation specialist and early-stage investor. They build bridges between large corporates seeking to innovate more quickly with young companies with disruptive technologies, products and services. Founded in 2012 by serial entrepreneur Stuart Marks, they run bespoke start-up partnership programmes across industry sectors, supporting rapid innovation and connecting them with the best start-ups.

They work with clients such as Arsenal, BMW and International Airlines Group (IAG) to identify where they believe the challenges are in their businesses and then turn these into opportunities for improvement and innovation. Each programme is tailored to deliver real solutions to the corporate partners and create real opportunities for start-up to test and grow their product with a major partner.

The Boston Consulting Group

The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit