Lloyd’s has announced the 10 firms that will form the 17th cohort of its Lloyd’s Lab Accelerator initiative, after 15 businesses pitched for a place on the 10-week programme. The participants were chosen in respect of three specific themes: operational efficiency in the Lloyd's market, new products for the Lloyd's market and experimental innovation.

The firms chosen for their contribution to operational efficiency were Cassi, which pairs human judgement and AI to improve forecasting and Mastery AI, which improves portfolio control for specialty insurance.

In the new product category, Augura Space translates space-weather data into operational risk insights, Climion AI provides real-time location intelligence and climate risk scores for real estate and data centres, while Canongate AI delivers geopolitical and political risk intelligence directly into underwriting workflows.

Ötzi provides forward-looking tropical cyclone forecasts (0–36 months) and Willog uses shipment-monitoring devices and logistics data to support loss prevention, pricing and parametric insurance products.

Under the theme of experimental innovation, Convective Technology Company uses heat convection to mitigate extreme weather risks like wildfires, Glacis Technologies provides monitoring oversight of AI models and Optimising Technologies is creating a framework to support insurance for autonomous mobile robots and humanoids.

Rosie Denée, director of innovation and commercial education at Lloyd’s, said: “Pitch Day is one of the most important moments in the Lloyd's Lab calendar because it brings the market directly into the selection process. Every company presenting has already demonstrated strong potential, but it is the insight, challenge and expertise of market participants that ultimately determines which solutions move forward.

“The companies selected for Cohort 17 now have the opportunity to work directly with brokers, insurers and market experts to test their assumptions, strengthen their propositions and demonstrate where they can create real value for the market. That's how innovation moves from interesting ideas to meaningful impact.”