Describe Data is joining the Lloyd's Lab! We're one of just 12 lucky companies, from a field of 300 international applicants.
Joining the Lloyd’s Lab is an amazing opportunity for Describe Data. We'll be working with Lloyd’s market experts to make our Kompreno Risk Engine smarter by tailoring it to their problems. One of the perks is access to a state-of-the-art co-working space located in the iconic Lloyd’s building, bringing us even closer to the London market.
The competitive selection process involved 2 stages: an initial application as one of around 300 companies, and progression to a second round of just 20 companies, which involved a live pitch to senior leadership and market representatives of Lloyd’s.
We presented the idea of "Bionic Underwriting", the use of new data sources together with machine learning and AI to give underwriters a better understanding of risk, whatever they may be.
All of the (expanding) Describe Data team are looking forward to working with Lloyd's market participants and the Corporation of Lloyd's. It’s going to be an exciting time!
About the Lloyd's Lab
The Lloyd's Lab was set up by Lloyd's of London to create an environment where new concepts, ideas and products can be tested with the support and active involvement of the world’s specialist insurance marketplace. The Lloyd's Lab focuses on designing technology-driven solutions.
The complete list of companies joining the Lloyd's Lab can be found here.