Lloyd’s Lab, the innovation accelerator of the Lloyd’s insurance market, has chosen 12 insurtech companies for its first Americas-focused cohort. The selected insurtechs will address various challenges in the insurance industry, including natural catastrophe prediction, cybersecurity risks, data, models, processes, and new products. The cohort will participate in a ten-week incubator program to develop innovative solutions for businesses and communities in the Americas region. The insurtech companies selected for the cohort are CoverYourAI, OpenCover, SAMP Risk, SHINC, Astroteq.ai, CatX, Maximum Information, Sixfold, Authentic Art, Latú Seguros, Pascal Metrics, and ZeroEyes. Each team brings unique expertise and innovation to the table, aiming to redefine the future of insurance. Lloyd’s Lab is impressed with the teams that presented at Pitch Day and is committed to delivering solutions for the global insurance marketplace.
In other news, Ondo InsurTech's partnership with insurer Nationwide for the rollout of its LeakBot devices in the US is exceeding expectations. Deliveries of the water claims prevention technology have begun in Cincinnati, Ohio, and Missouri, with an installation rate among homeowners above 70%. Fortune 100 insurer Nationwide will ship the remainder of the 6,000 LeakBot devices from its initial order over the coming weeks, mainly in Ohio. Ondo CEO Craig Foster expressed satisfaction with the first Nationwide deployments and the company's partnership in the United States. [d723ccf5] [f4fab166]