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Lloyds chooses 12 insurtech startups to take part in Lloyds Lab

Monday 13 April 2020 14:57 CET | News

The Lloyds Banking Group has chosen 12 early-stage insurtech companies to take part in its innovation accelerator program, called Lloyds Lab.

The 12 insurance technology startups were chosen out of over 90 companies that had submitted applications. As the fourth cohort of the Lloyds Lab program has been announced, the accelerator will officially begin on April 27, 2020.

The 12 insurtech-focused teams were chosen after they showcased their business ideas and participated in a selective process on April 2, 2020. The ideas were pitched online instead of at a physical location due to the COVID-19 outbreak.

The insurtech companies will mainly be focused on developing data and models, creating new insurance products and services, and working on services related to enhancing various online insurance processes. Some selected competitors include KASKO, Skyline, Parametrix, Kovrr, BOXX Insurance and others.

The Lloyds Lab began looking for potential insurtech startups in June 2018.



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Keywords: Lloyds, insurance, technology, Lloyds Lab, insurtech, innovation, COVID-19, startups
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: United Kingdom
This article is part of category

Banking & Fintech