Lloyd's Lab

What Lloyd's Lab does

Lloyd's Lab is the dedicated insurance innovation accelerator operated by The Society of Lloyd's, the world's only insurance marketplace of its kind. Founded within Lloyd's Corporation (which traces its origins to 1686) and structured as a 10-week, cohort-based program, the Lab selects approximately 20 insurtech startups from a global applicant pool of 200+ companies per cohort, providing selected participants with mentorship from Lloyd's market experts, direct access to the syndicate and broker network, and pathways to commercial partnerships within the Lloyd's marketplace. Cohort themes have progressively expanded to include operational efficiency, new product development, experimental innovation, and Ireland-specific resilience, with recent cohorts featuring startups in AI-driven drone insurance (Skywatch.AI), cyber resilience (ITUS Secure Technologies), claims processing (Claim It), landlord financial tooling (Baselane), and short-term rental insurance (Jurny).

Underlying technology and product experimentation within the Lab and adjacent Lloyd's initiatives center on smart contracts, parametric insurance, satellite and drone data for risk assessment, and AI applications across claims, underwriting, and risk management. Documented case studies include earthquake instant-claim payouts, volatile milk price protection, and frost protection for vineyards — all pointing toward automation of traditionally manual insurance workflows. The Lab operates within an ecosystem of 100+ Lloyd's syndicates, 50+ leading insurance companies, 80 insurance licenses across 200+ territories, and a market producing £57.9bn in gross written premium with £10.6bn profit before tax in FY2025.

The Lab's business model is non-commercial in the traditional sense: it is funded internally by The Society of Lloyd's as an innovation initiative rather than a revenue-generating entity, with no publicly disclosed pricing, no fees charged to participating startups, and no independent financial reporting. Distribution occurs through Lloyd's corporate channels — the lloyds.com Insights Hub, a LinkedIn presence with 242,936 followers, and co-branded industry events such as London Risk Week (50+ events in 2025, partnered with the London Market Group). Strategic partnerships, including the Sustainable Markets Initiative Insurance Task Force (convened by Lloyd's in 2021) and the 2021 FinTech Pledge, reinforce the Lab's positioning as a convening platform for market-wide innovation rather than a standalone commercial venture.

Name

Lloyd's Lab

Legal name

The Society of Lloyd's

Website

https://lloyds.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Lloyd's Lab is a 10-week, cohort-based insurance innovation accelerator operated by The Society of Lloyd's, selecting roughly 20 insurtech startups per cohort from 200+ global applicants for mentorship and direct access to the Lloyd's of London marketplace and its 100+ syndicates.

Ownership category

akta.pro rank

Product category

Insurance Innovation Accelerator / Insurtech Cohort Program

NAICS

Management Consulting Services (54161), Other Scientific and Technical Consulting Services (54169)

SIC

Insurance Agents, Brokers & Service (6411), Services-Management Consulting Services (8742)

akta.pro primary industry

Data, Analytics & AI for Insurance (Risk, Pricing, Personalization) (FSAGAGAE)

Keywords

• Insurance innovation accelerator
• Insurtech cohort program
• Insurance marketplace mentorship
• Startup accelerator program
• Insurance technology partnerships

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Marketplace Fees: Lloyd's operates as an insurance marketplace bringing together the world's leading risk takers. The market provides the leadership and insight to anticipate and understand risk, and the knowledge to develop relevant, new and innovative forms of insurance for customers globally. Lloyd's Lab is the innovation accelerator division of Lloyd's Corporation.
2. Syndicate and Broker Services: Lloyd's capital structure connects risk to capital through more than a hundred syndicates and thousands of investors, enabling the market to shoulder more insurance risk for every unit of capital than any other financial institution.

Go-to-market motion3 records

Distribution channels2 records

Marketing channels4 records

Core offering

Lloyd's Lab is an award-winning insurance innovation accelerator operated by The Society of Lloyd's. It runs a 10-week cohort program that selects approximately 20 insurtech startups and innovative companies from a global applicant pool, providing them with mentorship from Lloyd's market experts, direct access to the Lloyd's of London marketplace, and pathways to partnerships with syndicates, brokers, and market participants. Each cohort focuses on themes such as operational efficiency, new product development, and emerging risk solutions including cyber, parametric, and climate-related insurance.

Product overview

Lloyd's Lab is an award-winning insurance innovation accelerator operated by Lloyd's, the world's leading insurance marketplace. It is structured as a cohort-based program that runs 10-week sessions, providing selected insurtech startups and innovative companies with mentorship from Lloyd's experts and direct access to partnerships within the Lloyd's of London market. The program focuses on advancing solutions in operational efficiency, new product development, and emerging risk areas. Companies selected for cohorts gain exposure to Lloyd's extensive network of syndicates, brokers, and industry leaders.

Differentiator

Problem solved

Functional benefit

Products and services

• Lloyd's Lab Accelerator Program A 10-week cohort-based insurance innovation accelerator that selects approximately 20 insurtech startups and innovative companies per cohort from a global applicant pool. Selected companies receive mentorship from Lloyd's market experts, direct access to the Lloyd's of London marketplace, and pathways to partnerships with syndicates, brokers, and managing agents. Each cohort focuses on themes such as operational efficiency, new product development, and emerging risk solutions.

Quantifiable outcome

• 220 applicants worldwide for Lloyd's Lab cohort
• +1 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Sustainable Markets Initiative (SMI) Insurance Task Force MemberscoreStrategic or Co-development Partner · 24 June 2021HRH The Prince of Wales launched the SMI Insurance Task Force during a visit to Lloyd's. The task force is convened by Lloyd's and comprised of executives from many of the world's largest insurance and reinsurance companies including AIG, Allianz, Amwins, Aon, Ascot, AXA, Beazley, Conduit Re, Direct Line Group, Hiscox, Howden Group, Legal & General, Marsh McLennan, Munich Re, Phoenix, and Tokio Marine Kiln. The task force provides an influential platform for the sector to collectively advance progress towards a resilient, net-zero economy.
• FinTech Pledge SignatoriescoreStrategic or Co-development PartnerIn April 2021, Lloyd's along with several other insurers signed up to the FinTech Pledge which holds signatories to a fair and common set of guidelines for interacting with start-ups. The FinTech Pledge aligns with values cultivated within Lloyd's Lab and codifies existing values at the heart of Lloyd's.
• London Market GroupcoreStrategic or Co-development PartnerLloyd's partnered with the London Market Group for London Risk Week, bringing together market leaders and the insurtech community on the underwriting floor of One Lime Street. The week featured 50+ events across the City reinforcing why London remains a global centre for risk.
• Atlantic CouncilminorStrategic or Co-development PartnerLloyd's partnered with the Atlantic Council for an AC Front Page conversation with Chair Charles Roxburgh on how the insurance industry is evolving its risk models, capital and underwriting frameworks to respond to global uncertainty.
• British Embassy ParisminorStrategic or Co-development PartnerLloyd's Europe convened clients, partners and market stakeholders from across France and the wider Lloyd's Market at the British Embassy in Paris to focus on issues shaping today's risk landscape including Cyber, Energy transition & natural catastrophe, Property, and Political violence & terrorism.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Allianz X: Allianz Group's digital investment and innovation arm, actively backing insurtech startups with capital and global distribution across Allianz's insurance entities—directly comparable to Lloyd's Lab's mandate of pairing insurtech founders with a major insurance marketplace.
• AXA Innovation Lab (Katana): AXA's strategic innovation program partnering with early-stage insurtech and adjacent technology startups, offering pilots, mentorship, and integration with AXA's global insurance operations—a near-direct functional analogue of Lloyd's Lab.
• Munich Re Innovation Lab: Munich Re's innovation initiative focused on AI, climate, and emerging-risk solutions, providing reinsurance-backed validation to insurtech founders—directly comparable to Lloyd's Lab's marketplace-access model for startups targeting specialty risk lines.
• MetLife Digital Ventures: MetLife's corporate venture and innovation arm investing in and partnering with insurtech startups globally, offering strategic capital and distribution—comparable in mandate and target founder profile to Lloyd's Lab.
• Swiss Re Institute: Swiss Re's research-and-innovation platform that partners with insurtech and risk-tech startups to develop next-generation reinsurance and risk solutions—comparable to Lloyd's Lab in its focus on emerging risk categories and partnership-driven innovation.
• Generali Innovation Lab: Generali's innovation initiative supporting insurtech founders through partnerships, pilots, and capital, with a European/global distribution footprint—closely aligned with Lloyd's Lab in geography and target founder segments.
• Plug and Play Insurtech: One of the world's largest insurtech-specific accelerator programs, running cohort-based programs with multiple corporate insurance partners—directly comparable to Lloyd's Lab in cohort structure and insurtech focus.
• Techstars Insurtech Accelerator: Techstars' dedicated insurtech accelerator program, partnering with major insurers to run cohort programs for early-stage startups—directly comparable in cohort-based accelerator model and insurtech focus.
• Hartford InsurTech Hub: The Hartford's corporate-backed insurtech accelerator running multi-month programs for startups in commercial and specialty insurance—directly comparable cohort-based insurtech accelerator model with insurance-industry backing.

Emerging players

• InsurTechNY: A New York-based insurtech community and accelerator program supporting early-stage startups with mentorship and investor introductions—comparable in insurtech focus and community-led model, though smaller scale than Lloyd's Lab.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/LloydsofLondon
• YouTubeyoutube.com/user/Lloydsinsurance
• Facebookfacebook.com/lloyds
• LinkedInlinkedin.com/company/lloyd%27s-of-london
• Instagraminstagram.com/lloydsoflondon/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments32 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lloyd's Lab