Lloyd’s has partnered with Dubai’s Department of Economy and Tourism (DET) to create opportunities for insurtech start-ups and entrepreneurs. 

The pair plan to develop a Dubai Insurtech Enablement Platform to encourage innovative tech-based insurance solutions covering autonomous vehicles, to the transition to net zero. 

“Our work with Dubai is part of our ambition to increase the pool of innovation talent that can work both with the Lloyd’s and global insurances markets,” Lloyd’s Commercial Director Dawn Miller said. 

Lloyd’s Lab program members will be supported to set up and expand operations throughout Dubai, while Dubai-based insurtechs will be encouraged to apply to the Lloyd’s Lab and expand operations in the UK and beyond. 

The Lloyd’s Lab will give Dubai-based startups the knowledge to scale new products and solutions that advance the emirate’s insurtech sector, Dubai Economic Development Corp CEO Hadi Badri said, adding entrepreneurs can set up in Dubai and grow across the Middle East, Africa and South East Asia. 

“By joining forces with the world’s largest insurance and reinsurance marketplace, we are creating new channels of collaboration that will strengthen Dubai’s value proposition as a regional hub for innovation-driven insurance companies,” he said.