Lloyd’s has struck a deal with Dubai’s Department of Economy and Tourism to support growth opportunities for Dubai-based insurtech start-ups and entrepreneurs. The memorandum of understanding between the two parties encapsules their joint ambition to develop a Dubai insurtech enablement platform to help create tech-based insurance solutions and products.

Dawn Miller, commercial director at Lloyd’s, said: “Lloyd’s remains committed to supporting innovation to better meet customer demand. Our work with Dubai is part of our ambition to increase the pool of innovation talent that can work both with the Lloyd’s and global insurances markets, while enabling more effective, sustainable process to address risks that are emerging across the globe.”

Hadi Badri, CEO of Dubai Economic Development Corporation at Dubai’s Department of Economy and Tourism, added: “By joining forces with the world’s largest insurance and reinsurance marketplace, we are creating new channels of collaboration that will strengthen Dubai’s value proposition as a regional hub for innovation driven insurance and reinsurance companies.

“Access to key features of the award-winning Lloyd’s Lab accelerator will give Dubai-based startups the knowledge and tools they need to build and scale new products and solutions that will advance the emirate’s insurtech sector and wider tech ecosystem.”

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