Skip to main content

Frequently asked questions

What type of solutions are you looking for?

We’re looking for solutions that have the potential to create true commercial value for the Lloyd’s market. Whether by reducing acquisition expenses, helping Lloyd’s market businesses make better underwriting decisions, making operations more efficient or improving the policyholder experience, we want to see ideas that can have a real impact on market performance.

Who can participate?

Companies, entrepreneurs and start-ups from across the globe who are prepared to develop their products and services in collaboration with Lloyd’s and the Lloyd’s market.

I’m not an insurance business – can I still participate?

Lloyd’s Lab is not exclusively for insurance-focused ventures. We’re also interested in working with products and services from outside of insurance that could have applications in the industry. For example, if you have a great data analytics platform, you could work with us to see how it could help us to understand new risk markets.

I’m quite an early-stage startup – am I right for Lloyd’s Lab?

We’re open to considering proposals from ventures at any stage of their development and will work to tailor the activities you’re invited to take part in to your needs. If you feel that your business and/or products/platforms/processes would benefit from a collaboration with Lloyd’s then we’d love to hear from you.

I’ve been in accelerators before and have customers – is this right for me?

We know that your needs will be very different from an early-stage business. That’s why we look to tailor any mentoring or activities you’re involved in to your needs. Your time is precious and we don’t want to waste it. So long as you have an ambition to test out your product and ideas in the Lloyd’s Lab, we want to see how we can work together.

Do I need to give away equity to participate?

No, but Lloyd’s would like the optionality to invest in your business at the end of the programme where we see a business opportunity and want to work with you longer-term. Any key investment terms will be agreed with you up front prior to you joining the Lab.

Are you asking for exclusivity?

No, we’re not asking you to sign an exclusivity agreement. We want to build a relationship based on trust and, if we complement each other, we hope that we’ll be your first port of call when you need feedback on your new products/platforms/processes. Please be aware that we will need you to sign a mutual non-disclosure agreement (NDA) and participation agreement before you access the Lab, which you will need to adhere to even when working with third parties, whether in the insurance sector or otherwise.

Will I need to disclose confidential information about my business?

If you are invited to join Lloyd’s Lab, we will need you to sign a mutual non-disclosure agreement (NDA) before accessing the Lab – this requires us to not disclose your confidential information and requires you to do the same for us. This is designed to help us work together productively on the programme. However, during the application process, neither party will have signed the NDA, so please only share with us information about your product/platform/process or business that you consider not to be confidential/to be public domain.

What’s the deadline to apply?

We will be looking for teams to apply for Cohort 2 from December 3rd. Applications for the second cohort will close on February 3rd.

What happens once I've completed my application?

Once you’ve submitted your details via theapplication form on F6S, a member of our team will review your responses to confirm your suitability for the programme. L Marks and/or BCG may be in touch to gather further details and answer any questions you have before your details are submitted to the Lloyd’s Lab SteerCo for review. Up to 20 teams will be invited to attend the Pitch Day. If invited, you’ll meet the Lloyd’s Lab team, give a short presentation and take part in a Q&A session. If we believe your business could be a good fit for the programme, we’ll extend you an offer to participate shortly after the Pitch Day.

Do I have to be over 18 to be able to apply?

You must be at least 18 years old to apply to Lloyd’s Lab.

I don’t live in the UK, can I apply?

Of course! Companies, entrepreneurs, and start-ups from across the globe are encouraged to apply. Bear in mind that you may need a visa to participate in activities in the UK.

Are you offering any travel support or assistance?

Travel support to participate in the Lloyd’s Lab based in the Lloyd’s Building at Lime Street, London, United Kingdom will remain at Lloyd’s sole discretion.