CatX joins Lloyd's Lab to bring alternative capital to the world's largest insurance market

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May 7, 2024
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CatX is thrilled to announce its participation in the prestigious Lloyd's Lab Accelerator program, marking a significant milestone in our journey to transform reinsurance. As one of the 12 InsurTech firms selected for the 12th Cohort of this globally recognized accelerator, we are excited to leverage the extensive network and expertise available through Lloyd's Lab.

Our selection followed a highly competitive pitch process where our innovative solutions in bridging the gap between alternative capital and insurance risk clearly resonated with an expert panel of industry stakeholders. CatX's technology is designed to help insurers reduce their cost of capital and brokers enhance client experiences, while also unlocking uncorrelated investment opportunities for investors.

Over the next ten weeks, our team will engage in a fast-tracked incubator program at Lloyd’s Lab, gaining unprecedented access to resources and support to further develop and refine our products. This cohort has attracted a record number of applications from over 33 countries, reflecting the vibrant and dynamic nature of the global InsurTech landscape.

This year's focus on the Americas region, along with themes such as ‘Data, Models and Processes’ and ‘New Products’, aligns perfectly with our mission to address some of the most pressing challenges faced by businesses today—from natural hazard prediction to cybersecurity risks. Our participation in the Lloyd's Lab underscores our commitment to innovation and our dedication to developing solutions that not only meet but exceed the evolving needs of the global insurance market.

Building on the progress we made earlier this year in the Y-Combinator accelerator, we are eager to leverage our previous successes and insights to drive further innovation. At Lloyd's Lab, we are concentrating on four key work streams:

  1. Digital Submissions: Improving how brokers and insurers share transaction information with institutional investors. Creating structured digital submissions for reinsurance will help to drive the industry forward. By developing digital tools, we can make the submission process easier and increase investor participation.
  2. Improving Investor Access to Insurance: Making the insurance sector more understandable and attractive to investors who are not traditionally involved in insurance. Broadening participation in ILS and insurance markets.
  3. Risk Modelling and Shared Views of Risk: Improving the use and investor understanding of insurance modeling results. Our goal is to make these modelling results more consistent and easier to share, helping to drive better underwriting, risk management and pricing decisions.
  4. Third party capital in Lloyd's market: Engaging the Lloyd's market on opportunities to improve capital management through alternative capital. Exploring opportunities from collateralized reinsurance and retrocession to smart follow/algorithmic underwriting and structured products. Improving confidence in index-based and parametric risk transfer solutions.

We have secured mentorship from the world's largest brokers and insurers which will accelerate our journey towards building our goal of building better ways for alternative capital to access opportuniites in reinsurance and retrocession.

We are excited to embark on this transformative journey with Lloyd's Lab and look forward to leveraging this opportunity to make a lasting impact on the insurance industry. Stay tuned for more updates as we progress through the program and continue to redefine the future of insurance.