68 Process Optimisation – Alumni profiles Lloyd’s Lab Impact Report 69 Allphins Focus in insurance value chain/ Activity in the Accelerator CarbonChain Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Point of underwriting, COHORT ,  workflow: Point of underwriting, Loss modelling & analytics Primary focus product area whilst in Compliance & regulatory support Primary focus product area whilst in the Accelerator: New sources of risk the Accelerator: New sources of risk Specific lines of business supported insight - data or models, Enhancing Specific lines of business supported insight - data or models (if applicable): Speciality, Reinsurance back-end data eciencies (if applicable): Corporate, Speciality Example of benefit of Accelerator to Example of benefit of Accelerator to organisation: CarbonChain’s original Allphins provides portfolio exposure data organisation: The Lab helped Allphins CarbonChain provides a platform that proposal was to build a new database analytics and technology solutions for validate and improve its product enables companies to track, report and for marine underwriters to allow them to insurers and reinsurers in specialty lines oerings to reinsurers, and connected reduce their supply chain emissions. The understand the emissions of vessels of business. Allphins’ adaptive exposure them with a number of clients. company focuses on the most carbon- they are insuring. During development, management covers multiple classes of intensive industries including metals, the team noticed a potential for the risk including oshore energy, political mining, agriculture and manufacturing. technology to work across wider and credit risks, terrorism and casualty. CarbonChain’s clients are manufacturers, underwriting portfolios for larger Allphins digitises portfolio information, banks, commodities traders and freight industrial conglomerates. With Tokio organises and enriches data so that it can Founded: 2018 companies. Founded: 2019 Marine Kiln, they explored this idea and, be analysed for dierent aggregation following a successful trial using a small scenarios and portfolio management. Status: Operating, still in insurance Status: Operating, still in insurance data set during the Accelerator (inferred) programme, launched a live project “ Our relationship with Chaucer dates back to Company type: Data transformation, looking at a portfolio of approximately the Lloyd’s Lab and they played a key role in Data provider Company type: Software provider 2,000 companies. helping us to improve our offering” Head oce: France Head oce: United Kingdom Laurent de la Porte, Founder A methodology framework was and Chief Executive Officer Main global oces: France Main global oces: United Kingdom developed to measure customers’ emissions and compare them with their Locations served: Global Locations served: Global industry and regional peers, translating Employee count: 11-100 Employee count: 11-100 this into a “carbon risk rating” that could be taken into account when considering each policy at the point of underwriting. Cactus (Marmalade) Focus in insurance value chain/ Activity in the Accelerator Clausematch Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Point of underwriting COHORT ,  workflow: Compliance & regulatory Primary focus product area whilst in support Primary focus product area whilst in Specific lines of business supported the Accelerator: Improving policy and the Accelerator: Ancillary, (if applicable): claims admin, Improving UW tools and Specific lines of business supported accountancy and regulatory processes, Enhancing back-end data (if applicable): compliance services eciencies Example of benefit of Accelerator to Cactus provides an underwriting and Example of benefit of Accelerator to Clausematch is used by insurers’ and organisation: During the Accelerator, broking platform, Marmalade, for organisation: During Cactus’ time in other financial service businesses’ risk Clausematch was able to create an commercial casualty and specialty the Lab the team developed a and compliance teams to create and insurance focused product, which insurance. Its data capture and pricing prototype for transferring insurance- manage internal company policy. involved retraining its AI models to platform allows underwriters to price related data in a machine-readable Clausematch will also help businesses analyse topics, themes and key words risks themselves and receive format between brokers and carriers. manage changes in industry-wide to understand insurance-specific submissions directly from brokers. During the prototype phase, a broker regulation that aect company policies regulations. Marmalade provides a standardised transmitted a speculative deal to an through its management capabilities. submission architecture which allows Founded: 2021 insurer on the behalf of a buyer, and Customers can use Clausematch to Founded: 2012 strategic oversight and portfolio-level the insurer provided a competitive generate insight reports and track new analysis from insurers’ actuarial team, Status: Operating, still in insurance bid. The buyer ultimately received a compliance requirements, including Status: Acquired by Corlytics Group reducing bottlenecks significant reduction in their renewal adherence to financial crime regulations. in 2023 and turnaround time. Company type: Administration system quote, saving tens of thousands of dollars. Company type: Administration system Head oce: Bermuda Head oce: United Kingdom Main global oces: Bermuda Main global oces: United Kingdom Locations served: Global Locations served: Global Employee count: 1-10 Employee count: 11-100 © Lloyd’s