Eleven start-ups have been chosen for the 14th cohort of the Lloyd’s Lab following a pitch day. 

“The quality of pitches presented for this cohort was exceptional, and we’re confident that the selected teams will develop solutions that address current market challenges,” Lloyd’s head of innovation, commercial education and engagement Rosie Denee said.

The program, which runs twice a year, offers access to expert mentors and potential partners and investors.

It gives start-ups, scale-ups and sometimes mature companies 10 weeks to work with market experts to shape and test their innovations.    

The cohort is split into three themes: 

Data, models and processes

Faura helps underwriters find the most profitable risks in disaster-prone areas while reducing loss ratios on vulnerable assets.

Satva Trust uses satellite data and proprietary models to provide fuel use data, enabling insurers to create policies that help maritime operators manage weather-related costs and emissions.  

QualRisk offers more effective data and analytics use.

New products

Ocean Ledger provides a geospatial tool that assesses erosion damage to coastal infrastructure and identifies nature-based or engineered adaptation.

Novella is an AI-powered wholesaler that automatically analyses broker submissions and matches them to appropriate carriers based on underwriting appetite.

Testudo is building a new liability product and pricing models for AI-powered work.  

Circuit Security ensures institutions maintain uninterrupted access to digital assets during disasters and disruptions by automating recovery and eliminating vulnerabilities in traditional methods.  

GWT Insight offers commercial buildings data.

Shaping the future of reinsurance in Bermuda

Supercede Technology is a reinsurance technology platform.  

Unwind Finance is an AI platform for casualty risk.  

7Analytics offers predictive models for floods and landslides, helping insurers pinpoint risk at the individual asset level.