88 Data and models – Alumni profiles Lloyd’s Lab Impact Report 89 Hailios Focus in insurance value chain/ Activity in the Accelerator ICEYE Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Loss modelling & analytics, COHORT ,  workflow: Loss modelling & analytics, Claims Primary focus product area whilst in Claims Primary focus product area whilst in the Accelerator: New sources of risk the Accelerator: Improving claims Specific lines of business supported insight - data or models, Improving Specific lines of business supported process (if applicable): Corporate, SME, claims process (if applicable): Personal, Corporate, Speciality, Reinsurance SME, Speciality, Reinsurance, Example of benefit of Accelerator to Example of benefit of Accelerator to Government organisation: ICEYE worked in the Hailios has created compact sensors organisation: ICEYE uses its own constellation of Lab on a solution to help distinguish which detect and analyse hail. Its sensors synthetic aperture radar satellites to between damage caused by water and are installed at policyholders’ locations to provide constant monitoring across the damage caused by wind from a tropical allow parametric insurance pay-outs to world, at any time and in any weather storm. It also got support in building its be triggered by localised hail data. Hailios conditions. The company produces high wildfire damage solution. sensors are used for parametric hail water mark estimates within 24 hours of a insurance in industries including flood, helping insurers to quickly estimate automotive, agriculture, renewable losses and improve the claims process. energy, and commercial property. Founded: 2017 The company is also developing persistent Founded: 2014 monitoring solutions for wildfires and can Status: Operating, still in insurance support parametric insurance products. Status: Operating, still in insurance Company type: Data provider “Taking part in Lloyds Lab gave ICEYE superb Company type: Data provider Head oce: USA exposure to the market and the opportunity to Head oce: Finland gain hugely valuable insight into the way in which Main global oces: USA market participants can get value from utilising Main global oces: Finland our unique Nat Cat solutions. We’re finding Locations served: USA, Australia continued involvement highly beneficial.” Locations served: Global Stephen Lathrope, Global Head of Insurance Employee count: 11-100 Employee count: 201-500 HazardHub Focus in insurance value chain/ Activity in the Accelerator Insurdata Focus in insurance value chain/ Activity in the Accelerator (Guidewire) workflow: Point of underwriting COHORT ,  workflow: Point of underwriting Primary focus product area whilst in Primary focus product area whilst in COHORT ,  Specific lines of business supported the Accelerator: New sources of risk Specific lines of business supported the Accelerator: New sources of risk Personal, Corporate, (if applicable): (if applicable): insight - data or models insight - data or models SME Example of benefit of Accelerator to Example of benefit of Accelerator to organisation: HazardHub was able to organisation: After their time in the HazardHub informs insurers if a access data from 23,000 claims from Insurdata provides insurers and cohort, Insurdata was acquired by commercial or residential property risk Managing Agents that it used to verify reinsurers with building-level location Big Ticket and continues to act as a is high or low in seconds. The company its product oering. The Lab helped to data and geocoding services. wholly-owned subsidiary. Earlier this provides key attributes such as property prove the value of HazardHub models The company specialises in high- year, Big Ticket launched their digital use code, year built and square footage. when assessing hurricane, wind and resolution, peril-specific exposure infrastructure for commercial insurance It also offers hazard data and scores for storm surge risks. This proof has and property risk data to support using Insurdata’s technology as a a wide range of perils including flood, allowed syndicates to quickly and pricing, underwriting and portfolio foundation. subsidence, earthquake and wildfire. accurately assess the risk for any management. Founded: 2016 existing or prospective book of US Founded: 2017 “The Lab was a fantastic partner in the London property business. market and super-accelerated our success and Status: Operating, still in insurance - Status: Acquired by Big Ticket (in 2022 eventual exit!” division of Guidewire Software, Inc - inferred) Bob Frady, Vice President Company type: Data provider Company type: Data provider Head oce: North America Head oce: North America Main global oces: USA Main global oces: USA Locations served: USA Locations served: Global Employee count: 1001+ Employee count: 1-10 © Lloyd’s