96 Data and models – Alumni profiles Lloyd’s Lab Impact Report 97 PolArctic Focus in insurance value chain/ Activity in the Accelerator Predata Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Point of underwriting, COHORT ,  workflow: Loss modelling & analytics Compliance & regulatory support 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 (if applicable): Speciality insight - data or models (if applicable): Speciality, Reinsurance, Government Example of benefit of Accelerator to Example of benefit of Accelerator to organisation: PolArctic gained access organisation: In 2021, FiscalNote PolArctic is an oceanographic and data to a range of mentors, helping to Predata analyses online activity acquired Predata, going on to partner science company with a focus on fine-tune the organisation’s oering. and web trac to create predictive with Peraton earlier this year. This creating products for the Arctic. The PolArctic was then able to present its analytics for geopolitical risk. It partnership will allow the group to company identifies and creates solutions solutions to the Lloyd's Market provides alerts and monitoring deliver AI-powered solutions at scale to business and policy questions about Association Navigating Limits Ice capabilities to help companies and speed and more eectively than the Arctic through the use of artificial committee, which led to an opportunity understand shifts in digital ever before. Predata’s technology will intelligence and machine learning for a trial with the committee. behaviour over time. help to provide powerful new techniques, allowing customers to plan capabilities, empowering warfighters for future Arctic maritime activities. Founded: 2020 As maritime trac intensifies in the “We're really proud of the [client] traction we Founded: 2015 in the data information environment. Arctic, the potential for accidents and achieved through the Lloyd's Lab.” “ Our time in the Lab provided invaluable Status: Operating, still in insurance damages increases, exposing Jeff To, Senior VP at CCC Status: Acquired, unclear if still exposure to the market for our finance reinsurers to greater risk as ship fleets in insurance automation platform and revealed the Company type: Data provider could be frozen into a region. By extent of the challenge faced by all incorporating PolArctic's data, Company type: Data provider Lloyd’s syndicates in dealing with high Head oce: United Kingdom operating costs and legacy systems that reinsurers can accurately assess the Head oce: USA hamper future growth and profitability” Main global oces: United Kingdom potential exposure and losses associated with the increased shipping Main global oces: USA Stuart Conibear, Chief Commercial Officer Locations served: Arctic activities across a portfolio. Locations served: Global Employee count: 1-10 Employee count: 11-100 Praedicat Focus in insurance value chain/ Activity in the Accelerator Previsico Focus in insurance value chain/ Activity in the Accelerator COHORT ,  AND COHORT ,  workflow: Risk mitigation, Point of COHORT ,  workflow: Risk mitigation underwriting, Loss modelling & Primary focus product area whilst in Primary focus product area whilst in analytics the Accelerator: New sources of risk Specific lines of business supported the Accelerator: New sources of risk insight - data or models (if applicable): Personal, Corporate, insight - data or models Specific lines of business supported SME Example of benefit of Accelerator to (if applicable): Corporate Example of benefit of Accelerator to organisation: organisation: During the Lab Previsico In Cohort 3, Praedicat Praedicat uses scientific research, created a new insurance product called Previsico provides real-time, property- designed a tool, with the help of the advanced data analytics and modelling Hundreds, a casualty product covering level surface water and ordinary Lloyd’s market, which gives insurers the techniques to help (re)insurers better risk on a named peril basis. This includes watercourse flood forecasts using ability to alert clients of imminent risks, understand and manage emerging risks. new technologies such as 5G, proprietary modelling software and down to an individual property level (25m), The idea was born out of a research nanotechnology and chemicals used in sensors. The company’s flood warnings so they can move valuables to higher and development project between manufacturing and agriculture. The are updated every three hours and ground and set up temporary flood RAND and RMS. Praedicat uses data product is designed to cover general provide a 48-hour outlook. This defences in the case of a forthcoming science and artificial intelligence liability and D&O around the same liability information can be used to warn flood. This fed into a major and ongoing to build a probabilistic liability Founded: 2012 events, which is a common coverage policyholders so that they can put Founded: 2019 contract with Liberty Specialty Markets, catastrophe model and risk products gap. It provides underwriters with data preventative and mitigation measures the company’s mentor in the Accelerator, for some of the world’s largest Status: Operating, still in insurance that allows them to assess exposures in place to help limit losses. Status: Operating, still in insurance and provided the building blocks to insurers and corporations. and control aggregation risks. meeting and working with other insurers. Company type: Data provider, “With flood’s global risk increasing exponentially, Company type: Data provider Data models due to climate change and urbanisation, Previsico Using historic Lloyd’s loss data Previsico “Being part of the Accelerator definitely enabled us In cohort 5, Praedicat developed a suite Head oce: United Kingdom was able to determine that their alerts to integrate more with the Lloyd's Market, which of scenarios for the casualty insurance is working across The Lloyd’s market to provide still very much has a face-to-face culture” Head oce: North America tools to help underwriters address flood risk and could have a typical reduction in losses of market to help insurers track Main global oces: United Kingdom around 50% but possibly up to 100%. This Bob Reville, Chief Executive Officer and Founder Main global oces: USA exposures, establish reserves and to warn property owners of flood, giving them time to act and mitigate flood loss.” Locations served: United Kingdom, was for households, commercial manage aggregations for COVID-19 properties and fine art and specie. The Locations served: Global liability. The scenarios are designed to Jonathan Jackson, Chief Executive Officer USA degree of loss reduction depended on the Employee count: 11-100 address clash risk from Covid that may Employee count: 11-100 type of asset (moveable or unmovable) impact general liability and D&O lines and if they combined an alert with a flood within an insurer’s portfolio. action plan and/or resilience measures. © Lloyd’s