Lloyd’s Lab has entered into an agreement with the Dubai Department of Economy and Tourism (DET) to collaborate on an insurtech accelerator programme.
Through the accelerator, insurtech startups participating in Lloyd’s Lab programme will receive support in establishing a presence and expanding their operations.
Accepted Dubai-based insurtechs will gain entry into the London market, along with potential investment opportunities, commercial product testing, networking prospects, and guidance.
This partnership aims to provide Dubai-based startups with access to the London market, fostering growth and development within the insurtech industry.
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
Access to key features of the Lloyd’s Lab accelerator will give Dubai-based start-ups 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.
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
Hadi Badri, chief executive of Dubai Economic Development Corporation at Dubai’s Department of Economy and Tourism
The collaboration between Lloyd’s and DET highlights the significance of fostering innovation and creating opportunities for startups in the rapidly evolving insurance industry.
Lloyd’s expressed the organisation’s commitment to expanding the pool of innovative talent capable of working with both Lloyd’s and the global insurance markets.
The collaboration with Dubai aims to facilitate more efficient and sustainable processes to address emerging risks worldwide
Dawn Miller, the commercial director at Lloyd’s
Lloyd’s and DET will assist Dubai-based companies in transitioning to the UK and promote their insurance offerings in the country.
This support will further bolster the growth of Dubai’s insurtech sector and contribute to the overall advancement of the tech ecosystem in the emirate.
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