What a ride on the Lloyd's Lab spaceship

WHAT A RIDE the past weeks have been! #DIAMunich late September 2022 feels like just yesterday, the whirlwind of events still fresh in our minds. Back then we had the most amazing afternoon during which we covered the equivalent of what must be 3 months’ worth of meetings with Lloyd’s people. We first met Volker Eutebach during a speed-networking round and within 1.5 hours and a couple more meetings we ended having a discussion with the head of Lloyd’s Europe, Amelie Breitburd .?

Soon we were brought to David Franco ’s attention and before we knew it, we were selected out of over 250 companies to be part of #cohort10 – a Lloyd's Lab initiative to accelerate and foster innovation in the insurance business.?

Our going-in pitch idea was to validate the output of our tech with real insurance data and to develop a next generation risk selection approach that will help the industry to better identify and manage flood risk.?It resonated. We were in!

For the next 11 weeks David Schenkel camped out in London, and worked on the product development, validated our model and networked within and outside the Lloyd’s market. We feel fortunate to have tapped into many great and valuable leads during this time, that might develop into partnerships soon. We could not have achieved any of that though without our mentors Alex Preston , Daniel Grimwood-Bird , David Stirling , Elliot Arazi , Kirstie Keate BSc (Hons) GMBPsS , Rhonda Coello , Rupesh Appannah , Richard Rudden , Thomas Diaz ??- and special mention Chloe Kaye who kept us and the mentors organized throughout all of it.?

This brought us to last Wednesday - #demoday - where we demoed what we developed within the #Lloyd’sLab, recording positive reactions from our audience. The ride was not over though, as we were invited to Belgium to compete for the for the Lloyd's ’s Europe Innovation Awards 2023 the day after. We went on stage with our pitch against 3 other teams from this year’s #cohort10 and 6 established companies from previous cohorts. Tough competition among amazing companies for sure! And to our delight REOR20 won the prize.

We are so deeply humbled by our win and of course very eager to make the most out of our prize sponsored by KPMG . Thanks to the judges from KPMG , FERMA | Federation of European Risk Management Associations , BeCentral , FINTECH BELGIUM , Assuralia and Qover .

We feel as though we are the beginning of an uphill road, and we are set abuzz with expectation. We look forward to sharing our entire journey with you all. Stay tuned and if you haven’t done so already, make sure you hit the follow button.?

A special thanks for supporting us in every meaningful way: Rosie Denée , Kieran Linger , Iryna Chekanava , Sytske Romijn , David Franco & Chloe Kaye .

We appreciate all our fellow cohort 10 companies Aanika Biosciences, Inc., Armilla AI , Axio , Ceto , Diesta , FireBreak Risk (appreciate the good seat neighbour discussions) , GABRIEL, Intelligent AI Limited , PolArctic LLC , Simulytic (especially appreciate all the good times on the side), spacebands , Value.Space and the Lloyd’s Europe Innovation Award competition from Cohort10 Simulytic , Value.Space , Armilla AI and past Cohorts Kita , ICEYE , Previsico , Altelium , BirdsEyeView , Skyline Partners .

The team

Christos Altantzis , Georgios Giannakopoulos , Julien Schroeter , David Schenkel , Iordanis (Danny) Chatziprodromou

#lloydslab #lloydsoflondon, #lloydseurope?#floodinsurance?#flood?#insurtech?#AI #DeepTech

An article written by Raluca Maria Nedelcu