REOR20 wins inaugural Lloyd’s Europe Insurance Innovation Competition to combat European protection gaps

“Lloyd’s Europe is firmly committed to supporting new solutions intended to contribute to addressing protection gaps in Europe, whether they are climate-related risks, like floods and natural catastrophes, or digital risks like AI and autonomous vehicles. We strongly believe in the power of sharing expertise across both public and private spheres to build resilience for the future in order to protect communities, businesses and the environment that we rely on, and these awards demonstrate the power of combining expertise and innovation across the tech and insurance sectors to meet these goals.”

“As one of Europe’s leading tech campuses we are honoured to host Lloyd’s Europe Innovation Competition. Our participation in the inaugural Lloyd’s Europe Innovation Competition signifies our collective goal of tackling digital gaps and driving technological advancements. Together, from the heart of Brussels and across Europe, we shape the future, empowering entrepreneurs from all walks of life and creating new opportunities.”

“Lloyd’s Europe is a masterclass example of how insurance corporates increasingly take a more partnership-focused approach, working collaboratively with insurtechs to help them develop and grow – a trend we see across regions. We are proud of supporting this initiative, working end-to-end, side by side with insurtechs, incumbents, and the larger Lloyd’s ecosystem.”

“FERMA is delighted to be a jury member for the first Lloyd’s Europe Innovation Competition and to represent the views of risk managers. We recognise the critical role insurtechs play in helping drive insurance market innovation and close the protection gaps that exist for key exposures including digital and climate-related risks. Collaboration between the risk managers and the insurance and insurtech sectors is vital to enabling the development of effective solutions that address the complexity and volatility inherent in these largescale risks, help bolster resilience at all levels, and in the case of climate change facilitate the transition to a carbon-neutral economy.”

“Assuralia has embarked on a new journey to follow the path of innovation with determination, because we understand that it is in this direction that lies one of the keys to our collective vision to improve customer experience, optimize operations, better manage risk, develop new services and adapt to market trends & demands. Keeping up with innovation has become an inescapable imperative; it is by exploring new approaches, encouraging creativity, stimulating sharing that we will be able to accompany the sector in its new challenges. By working on innovation, we are developing our ability to anticipate changes in the world, the new needs of policyholders and to actively support the future of our industry. Together, by joining forces, we want to participate to shape and build an agile and resilient community, ready to successfully navigate the waters of modern insurance.”

“We are thrilled to be part of this innovation competition as a member of the jury. Qover’s longstanding collaboration with Lloyd’s has proven the crucial role traditional institutions play in driving insurtech advancements. By joining forces with promising startups, we aim to foster innovation and shape the future of the European insurtech ecosystem.”

“We congratulate the winning insurtech company for their outstanding achievement in addressing European protection gaps. The choice was really not an easy one to make in the face of the vast number and variety of challenges and risks our society and industry are facing. Their innovative solution demonstrates the transformative power of technology in the insurance industry. This competition showcases the important collaboration between insurers and fintechs, driving meaningful advancements for enhanced protection. A big thumbs up to all participants for their contributions to shaping the future of insurance in Europe.”