Global insurance and reinsurance company Lloyd’s has an agreement with Dubai’s Department of Economy and Tourism (DET) to provide insurtech start-ups and entrepreneurs with new growth opportunities.
The agreement will focus on the development of the Dubai Insurtech Enablement Platform, which will help create new, tech-driven insurance offerings for multiple sectors, including autonomous vehicles and shift to net zero.
It will leverage Lloyd’s experience in setting up the Lloyd’s Lab, a tech accelerator that facilitates growth and innovation in the insurtech space.
The partnership will give Lloyd’s Lab members access to business assistance for establishing and growing their businesses across Dubai.
Furthermore, Lloyd’s will promote the use of Dubai-based insurtechs in the Lloyd’s Lab.
DET will leverage Dubai’s current talent base and new business to help start-ups that are part of the new global programme by launching their products and expanding their insurtech business in the UK and other parts of the world.
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Lloyd’s commercial director Dawn Miller said: “Lloyd’s remains committed to supporting innovation to better meet customer demand.
“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 a more effective, sustainable process to address risks that are emerging across the globe.”