At the end of August, RedZone’s CEO Clark Woodward flew to Lloyd’s Lab hub in London. Clark participated in Pitch Day in order for RedZone to be considered for Cohort 11. Nearly 200 companies apply, a couple dozen are selected to present, and only 11 are chosen. Members of the Lloyds market vote for the companies they believe are best suited to bring new products and services. Lloyd’s, the world’s leading marketplace for commercial, and corporate, produces a 10-week fast-track, fast-fail program where new concepts, ideas, and products can be tested with the support of experts from the world’s largest insurance and reinsurance market.
The best news – RedZone was selected!
As we go through the program, we will share updates via the blog and LinkedIn.
Redzone is deeply honored to have been selected alongside such impressive competitors. We’re now gearing up to collaborate with mentors from the Lloyds market as we work to bring our wildfire concentration platform to those who need it most. We will meet with mentors and new potential clients to comb our products and learn as much as possible.
Cohort 11 is specified under 3 themes, these are ‘New Products’, ‘Data, Models & Processes’, and ‘Asia-Pacific Climate Risk, Cyber and Sustainability’.
To help accelerate these company’s products, the Lloyd’s Lab program offers:
- Access to expert mentors and proximity to key advisors, potential trading partners & investors. ‘APAC Climate Risk, Cyber and Sustainability’ theme participants will have access to Asia-focused specialists.
- Participants can work out of Lloyd’s in London or wherever best fits their business. Office space will be available at key locations around Asia for the ‘APAC Climate Risk, Cyber and Sustainability’ theme participants.
The list of companies selected:
CLIMATIG is a climate insurtech SaaS application that helps insurers and banks to identify, measure, and act against eight climate change physical risks for any asset in the World in resolution of 10 meters, until the year 2100.
Cyntegra’s patented Recovery Operating System (CyntOS®) enables organizations to avoid the potentially catastrophic disruption and associated costs of ransomware and disruptive malware attacks by enabling end users to fully restore a compromised system to its familiar and functional pre-attack state in minutes.
FERMAT is an innovative aquacultural technology company with the vision of improving aquacultural efficiency and sustainability and the initial team of the company is a joint group of acoustic researchers, aquacultural experts, and insurance actuaries.
Floodbase is an end-to-end data solution monitoring global flood risk for insurers and government agencies. The company integrates satellite observations and hydrological data to provide both historical and near real-time flood data.
Loro’s platform enables insurers or MGAs to quickly create, customize, and deploy specialty insurance products without any upfront investment. Additionally, Loro’s solution is completely free for the first $100,000 GWP every year, providing unmatched accessibility and affordability.
MetaRisk is an innovative risk financing firm specializing in digital assets and Web3, bridging the gap between Web3 and insurance while leveraging blockchain technology to enhance operational efficiency, financial openness, and inclusivity.
Mitigrate focuses on climate adaptation and loss prevention in property insurance. The SaaS platform performs fully automated analyses for a given geographical location, generating recommended preventive and protective measures against flood damages to help sales agents, claim handlers, and appraisers minimize future claims and maximize customer loyalty.
Protos Labs, a Singapore-based insurtech, addresses the high costs of cyber premiums through advanced risk analytics. Their proprietary model considers 360-degree data points, creating comprehensive cyber risk assessments that set them apart from typical approaches and contribute to a safer and secure Asia.
Renew Risk provides risk modeling software for renewable energy assets. The company’s deep data science-driven risk models enable (re)insurers to undertake comprehensive catastrophe risk assessments, inform pricing and capacity, conduct event response, etc., and confidently underwrite risks in new regions throughout all phases.
Suyana and Benchmark Labs
Suyana has partnered with Benchmark Labs to create a hybrid-parametric flooding & hurricane insurance product. By using machine learning and digital technologies they can make flood insurance more accurate, accessible, and affordable.
Vayuh is a deep-tech company consisting of engineers and scientists from the UC Berkeley Lab community. Using Physics, Data, and AI they build highly accurate weather forecasts and peril risk models for clients across industries.