Layr is the only East Coast company selected from more than 200 applications worldwide to participate in the inaugural cohort of the Lloyd's of London corporate accelerator.
Atlanta, Georgia — Layr announced today that it has been selected to participate in the inaugural cohort of Lloyd’s Lab, the InsurTech innovation accelerator by global insurance giant Lloyd’s of London. The company beat out more than 200 companies from 36 countries to be among the 10 companies in this first cohort. The 10-week accelerator will operate out of the historic Lloyd’s building in London.
“Lloyd’s is the world’s first and most respected insurance marketplace in existence and their commitment to InsurTech is a positive sign for the insurance industry. I can’t think of a better or more prestigious partner to help Layr perfect its AI-powered underwriting and insurance carrier matching technology and look forward to the opportunities that this relationship will provide for us and our customers,” said Layr founder and chief executive officer Phillip Naples.
Layr specifically plans to focus on moving closer to application-less underwriting and real-time risk identification for small commercial insurance to provide small businesses with the ability to intelligently purchase and manage their insurance online and with only a few simple clicks.
The Lloyd’s Lab will begin on October 8, 2018 and over 10 weeks, the Lab 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. They will be supported by the Lloyd’s market who will offer their insight and expertise to help develop the ideas for their unique needs.
Layr enables companies to get the liability insurance protection they need and pay for it monthly with a credit card. The natural evolution of small business insurance, Layr’s AI-powered online platform automates the intelligence of the broker while predicting carrier pricing. It enables business owners to purchase insurance tailored to their company in minutes from a simple, online self-service portal.
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