Lloyd’s has announced the next eleven insurtech start-ups joining the sixth cohort of the Lloyd’s Lab innovation accelerator programme, which will be focused on creating simpler products for customers, including solutions related to climate risks. The 11 firms were selected from 177 applicants and the programme starts on 26 April.
According to data from the latest Pearson Ham Quarterly Market Price Index both motor and home insurance premiums saw marked price reductions in Q1 2021. Motor premiums reduced by 5%, combined buildings and contents premiums were down by 1.4%, while contents-only cover dropped by 4% in the quarter.
Law firm DAC Beachcroft is launching a Celtic customer care package for the Scotland and Northern Ireland jurisdictions, using animations to explain the insurance claims litigation process. It builds on the suite of animations created for England and Wales.
Emerging risk analytics specialist Praedicat has developed a new platform to help syndicates at Lloyd’s understand how their existing book of business is exposed to emerging risks and to produce compliant reports on six specific liability scenarios, as required by the market.
Vehicle and driving data company IMS has partnered with car sharing marketplace Turo to offer a telematics-based vehicle security package to car owners using its platform. Vehicle owners using Turo can get IMS’ telematics hardware installed in their vehicles, with security specialists W4G providing ongoing monitoring and theft recovery services.
Technology provider Acturis has teamed up with RAC to offer RAC Breakdown products via its broker management system. The partnership enables brokers to access private, commercial and fleet breakdown products. They can quote and bind the products via the cloud-based technology.
Specialist insurance and reinsurance broker BMS has launched Pathlight Analytics, which helps clients examine data to drive better insight into their specific capital and risk transfer goals and objectives. The platform works across both insurance and reinsurance.