Lloyd’s Lab Accelerator programme to have Bermuda theme

The latest cohort of Lloyd’s Lab’s award-winning flagship Accelerator programme will have the opportunity to focus on Bermuda-based solutions. 

Applications for Cohort 14 have opened and it will have a theme of “shaping the future of reinsurance in Bermuda”, Lloyd’s said. 

The insurance market said the theme solidifies Lloyd’s ongoing commitment to closely collaborate and share risk expertise between “the world’s two major insurance and reinsurance hubs of London and Bermuda”.

Following Lloyd’s signing of a Memorandum of Understanding (MOU) with the Bermuda Monetary Authority (BMA) earlier this year, the introduction of this theme aims to drive innovation explore solutions across four different challenge areas: Reinsurance and ILS (Partner Capital), Climate and Catastrophe Solutions, Emerging Threats and Man-made Risks, and Sustainable Insurance Models.

During the 10-week accelerator, selected Insurtechs will have access to expert mentors and subject-matter experts from across the Lloyd’s market and gain exposure to potential future trading partners and investors. In line with the commitments set out by Lloyd’s and the BMA, participants will also have Bermuda-based mentors.

Bermuda Premier David Burt recently visited Lloyd’s London headquarters. His delegation, which included representatives from the Association of Bermuda Insurers and Reinsurers, was hosted by Lloyd’s CEO John Neal and continued the dialogue on scaling innovation and collaboration within the insurance industry to better withstand current and emerging societal risks across the globe.

“The island of Bermuda plays an integral role to the Lloyd’s market thanks to its long-standing position as the home of re/insurance,” said Rosie Denée (pictured), Lloyd’s Head of innovation, commercial education and engagement. 

“We’re excited to open applications for Cohort 14, with a special focus on Bermuda’s role in shaping the future of our industry. The Lab continues to be a unique platform for start-ups to innovate, collaborate and rapidly scale solutions seeking to drive the Lloyd’s market forward.”

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