40New products/ MGA – Alumni profilesLloyd’s Lab Impact Report 41 Loadsure Focus in insurance value chain/Activity in the AcceleratorOtonomi Focus in insurance value chain/ Activity in the Accelerator COHORT , workflow: Point of underwriting,Policy COHORT ,  workflow: Point of underwriting admin system,Claims Primary focus product area whilst in Primary focus product area whilst in the Accelerator: Supply chain/NDBI Specific lines of business supported the Accelerator: Parametric, Supply Specific lines of business supported (if applicable): Corporate chain/NDBI (if applicable): Corporate, SME Example of benefit of Accelerator to Loadsure gained Example of benefit of Accelerator to organisation: access to new data from its Lab organisation: The Lloyd's Lab Loadsure uses predictive AI to mentors and the wider Lloyd’s market to Otonomi oers parametric insurance helped Otonomi secure capacity and underwrite shipped cargo in real time. train its algorithm. Through this, it were for the marine and cargo industry. Its investment from Greenlight Re to The company oers domestic and able to improve its policy pricing and first product, launched in 2023, is a launch its parametric cargo insurance international pay-as-you-go insurance develop its algorithm which can deliver parametric air freight insurance product. It believes its parametric cargo products per load or as an annual policy. an underwriting quote in 40 seconds or solution. The solution consists of air insurance product developed in the Lab Loadsure also provides coverage for less for low-complexity, pay-as-you-go shipment delay and interruption can speed up claim resolution by 100x, hard-to-insure products. The company's cargo insurance. Loadsure also coverage. It oers policies in the form reduce expense ratios by more than technology can be used across the received two series of funding after of smart contracts on a blockchain. 75%, and improve loss ratios by more policy lifecycle, including policy Founded: 2018their time in the LabIt oer fully digitised quoting, binding Founded: 2020 than 5%. management, payments, and digital and issuing of policies, with algorithmic claims processing. Loadsure's Status: Operating, still in insuranceunderwriting capabilities to improve Status: Operating, still in insurance insurance products can be integrated expense and loss ratios. via API into any intermediary’s workflow. Company type: MGA Company type: MGA (planned) Head oce: United Kingdom“ The Lloyd’s Lab Accelerator is one of the most Head oce: USA “ The Lloyd’s Lab is instrumental in evolving the transformative experiences that we have had. It London Markets perspective on the role of Main global oces: United Kingdom, gave us access to a number of underwriters, Main global oces: USA technology and innovation in the future of USA, Europebrokers, syndicates and other actors in the insurance - the Lab helped Loadsure to grow at a London insurance space that, very frankly, Locations served: USA critical stage; providing access to mentors and Locations served: USA, Canadawould not be accessible otherwise” insights that helped to guide our journey.” Yann Barbarroux, Chief Executive Ocer Employee count: 11-100 Johnny McCord, Chief Executive Ocer Employee count: 11-100and Co-Founder and Founder nPlanFocus in insurance value chain/Activity in the AcceleratorOTT Risk Focus in insurance value chain/ Activity in the Accelerator COHORT , workflow: Point of underwriting COHORT ,  workflow: Point of underwriting Primary focus product area whilst in Primary focus product area whilst in Specific lines of business supported the Accelerator: Parametric Specific lines of business supported the Accelerator: Parametric, Supply Corporate Gig/Freelance, (if applicable): (if applicable): chain/NDBI Example of benefit of Accelerator to Corporate organisation: In the Accelerator, nPlan Example of benefit of Accelerator to designed a parametric insurance organisation: OTT Risk developed its nPlan provides risk analysis and product covering construction project OTT Risk oers parametric insurance revenue protection product for the assurance for construction projects. Its delay risk.products for non-damage business digital economy during the Lab and algorithms help construction companies interruption (NDBI), currently focused agreed a capacity partnership with understand and mitigate project risks. on the digital economy. Instead of Apollo ibott Syndicate 1971. It has created a parametric insurance oering coverage based on a predefined product covering construction project event, OTT Risk's insurance products delay risk. pay out based on economic indices or industry metrics that correlate Founded: 2017with business interruption losses. Founded: 2020 OTT Risk’s focus is providing revenue Status: Operating, still in insuranceprotection to the users of digital Status: Operating, still in insurance economy marketplaces. Company type: MGA (planned) Company type: MGA Head oce: United Kingdom“ It was a really nice opportunity for those 10 weeks Head oce: United Kingdom of the Lab to dig into the conversation with Apollo, Main global oces: United Kingdomthink about how we could use the work we had Main global oces: United Kingdom, done thus far modelling business interruption risk, USA Locations served: Globaland apply it to the digital economy.” Matthew James, Head of Business Locations served: Global Employee count: 11-100Development Employee count: 1-10 © Lloyd’s © Lloyd’s