With more than 200 applicants from 36 countries, Layr is 1 of 10 companies selected to participate in the inaugural Lloyd's Lab cohort, a 10-week long insurtech accelerator.
We’re excited and honored to share that Layr has officially been selected to participate in the inaugural Lloyd’s Lab cohort. More than two hundred companies from around the world applied for one of ten coveted slots and an opportunity to work with the world’s first insurance marketplace, Lloyd’s of London. Layr is one of only three companies from the U.S. selected and the only company from the East Coast that will be joining the cohort.
The Lloyd’s commitment to InsurTech is a positive sign for the insurance industry.The Lab will be run out of a new, state-of-the-art, and dynamic co-working space located within the historic Lloyd’s building right in the heart of London. Beginning October 8, 2018 and spanning ten weeks in total, the ten teams will have access to potential funding and the chance to develop products, platforms, and processes that will help transform Lloyd’s into an increasingly technology-driven market. The participating companies will also be supported by the Lloyd’s market who will offer their insight and expertise to help develop the ideas for their unique needs and objectives. The culmination is a demo day on December 12, 2018 where each of the ten teams will have an opportunity to exhibit what they were able to build during the prior ten weeks.
As an insurtech startup, we’re always looking for ways to align ourselves with insurance partners that demonstrate a commitment to bringing meaningful change to the commercial insurance industry. This opportunity to work closely with Lloyd’s of London will greatly accelerate our ability to offer truly application-less underwriting and real-time risk identification as we continue our mission of helping business owners intelligently purchase and manage the right liability insurance for their companies.