102 Data and models – Alumni profiles Lloyd’s Lab Impact Report 103 Spacebands Focus in insurance value chain/ Activity in the Accelerator Swiss Re Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Risk mitigation, Loss COHORT ,  workflow: Point of underwriting modelling & analytics, Claims Primary focus product area whilst in Primary focus product area whilst in the Accelerator: New sources of risk Specific lines of business supported the Accelerator: New sources of risk Specific lines of business supported insight - data or models, Improving (if applicable): Corporate insight - data or models, Data, product & (if applicable): claims process service consolidator Example of benefit of Accelerator to Example of benefit of Accelerator to spacebands provide businesses with organisation: Conversations in the The Swiss Re Group is one of the world’s organisation: Swiss Re created a wearable devices which detect if an Lab helped to shape the company’s leading providers of reinsurance, prototype of an Underwriting Data employee is in the proximity of a insurance oering and go-to-market insurance, and other forms of insurance- Platform targeting the initial problem workplace hazard and at risk of being strategy. Through conversations in the based risk transfer. In 2023 the company of collecting ESG data on private injured. Users can use the spacebands Accelerator, spacebands realised that launched Swiss Re Reinsurance Solutions, companies and developing usable website and mobile app to monitor its proposed insurance dashboard oering a range of services from bespoke underwriting insights. The prototype hazards, oer wellness reminders concept did not work as intended. In its consulting to software solutions and uses three dierent data sources and and receive employee feedback. place, the company created a advanced data and insight capabilities. collection methodologies in order to Founded: 2020 downloadable, digestible report for Founded: 1863 provide a more comprehensive view of each insured customer. “The Lloyd's Lab forced us to deliver at speed ESG information than what is currently Status: Operating, still in insurance with a constant focus on clients' needs and Status: Operating, still in insurance readily available. It returns raw data and spacebands also uncovered some key feedback. It was an invaluable experience to it allows users to combine it to create Company type: Data provider features that were missing from its bring an innovative idea from the concept to the Company type: Reinsurer, Insurer, prototype in a completely different environment Data models, Data provider their own view of risk. The Lab also Head oce: United Kingdom product oering which they are now and to quickly test commercial opportunities.” oered great visibility and access to looking to add, such as gas detection Head oce: Europe Swiss Re’s newly created Reinsurance Main global oces: United Kingdom and working-at-height monitoring. Anna Bordon, Senior New Propositions and Partnerships Lead Solutions division. Main global oces: Switzerland Locations served: United Kingdom Locations served: Global Employee count: 1-10 Employee count: 1001+ Sustema Focus in insurance value chain/ Activity in the Accelerator Tomorrow.io Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Point of underwriting COHORT ,  workflow: Risk mitigation, Claims Primary focus product area whilst in Primary focus product area whilst in Specific lines of business supported the Accelerator: New sources of risk Specific lines of business supported the Accelerator: New sources of risk Corporate (if applicable): (if applicable): insight - data or models insight - data or models Example of benefit of Accelerator to Example of benefit of Accelerator to organisation: During the 10-week organisation: Munich Re, one of Sustema behavioural analytics provides programme, Sustema was able to Tomorrow.io provides hyperlocal Tomorrow.io’s mentors in the commercial insurers with a comparative stress test its business hypothesis weather intelligence and analytics. Accelerator, helped with the analysis of the corporate behaviour of with market participants, and the Using Tomorrow.io, insurers are development of its Insights Dashboard over 17,000 companies worldwide. constructive feedback from doing so, able to provide early warnings to feature. It allows users to see where, Sustainability and ESG are components helped to refine their business model policyholders of extreme weather when and how their business will be of sound corporate behaviour that is and value proposition. As a result, events that are likely to damage their impacted by the weather in real-time analysed by Sustema behavioural Sustema was able to develop Sustema property or vehicle. The company’s using hourly forecasts. analytics (BASE). BASE, which is a user-friendly product historical archive and real-time Founded: 2017 that enables improved underwriting weather insights can also be used Founded: 2016 “We found that Lloyds Market was a very good profitability and makes ESG metrics for claim validation. fit with our mission – to ‘help companies action Status: Operating, still in insurance actionable in the core business of Status: Operating, still in insurance regulatory change’. Our regulatory change underwriting. management solution could quickly be Company type: Data provider Company type: Data provider adapted to individual needs of Lloyds Market participants to track and action relevant Head oce: Switzerland Head oce: North America regulatory developments.” Main global oces: Switzerland Main global oces: USA Helen Dann, Co-Founder and Chief Customer Officer Locations served: Global Locations served: USA (but potentially other areas too, USA is the Employee count: 1-10 only one confirmed) Employee count: 201-500 © Lloyd’s