34New products/ MGA – Alumni profilesLloyd’s Lab Impact Report 35 Flock Focus in insurance value chain/Activity in the AcceleratorGaia Focus in insurance value chain/ Activity in the Accelerator COHORT , workflow: Point of underwritingCOHORT ,  workflow: Point of underwriting Primary focus product area whilst in Primary focus product area whilst in Specific lines of business supported the Accelerator: Automotive, DronesSpecific lines of business supported the Accelerator: Fertility (if applicable): Corporate, SME (if applicable): Personal Example of benefit of Accelerator to Example of benefit of Accelerator to Participation in the Lab Gaia developed its IVF organisation: organisation: helped Flock to expand its oering from insurance product whilst in the Flock is a fully digital insurance company drone insurance to also provide fleet Gaia has created an IVF (in vitro Accelerator. During the Lab, Gaia for commercial motor fleets. The cover. Being in the accelerator was also fertilisation) insurance product that updated its existing model, which company’s risk intelligence engine uses invaluable, providing Flock with predicts fertility outcomes and insures could then be used to predict the real-time, third-party and proprietary data excellent networking opportunities and against the risk of failure. The product is change of success during IVF, to also sets to price policies. Flock provides exposure to carriers, investors, and an embedded insurance, financing, and suggest how many cycles may be connected vehicle fleets (cars, vans and partners.payment solution integrated into UK needed to achieve pregnancy. Gaia met trucks) with insurance that proactively fertility clinics with customers paying o its current capacity providers, Chaucer enables and incentivises safer driving. the treatment when they have a child. and Beazley, through the Lab and Flock’s Connected Insurance protects Founded: 2015Patients build and choose insurance Founded: 2019 continues to work closely with them. thousands of drivers and is distributed by coverage at the point of sale, online. The hundreds of brokers across the UK. Status: Operating, still in insurancecompany also oers members access to Status: Operating, still in insurance qualified medical and counselling support. “ Our participation in the program helped us to Company type: MGA Company type: MGA expand from drones to fleet, brought us valuable Head oce: United Kingdom“ The Accelerator helped us in two ways. It gave us Head oce: United Kingdom networking opportunities, exposure to carriers, access to a large group of people in a structured investors and partners, and team growth. These Main global oces: United Kingdomformat to test our product. It also allowed us to Main global oces: United Kingdom experiences have had a lasting and positive work in a cohort with people that were serious impact on Flock and continue to fuel our growth Locations served: United Kingdomabout considering alternative products, Locations served: United Kingdom, and development year over year.” distribution channels and capacity.” USA Antton Peña, Founder and Chief Strategy Employee count: 11-100Nader AlSalim, Founder and Chief Ocer Executive Ocer Employee count: 11-100 FloodFlashFocus in insurance value chain/Activity in the AcceleratorInnovatrix Capital Focus in insurance value chain/ Activity in the Accelerator COHORT , workflow: Point of underwriting, Loss COHORT ,  workflow: Point of underwriting modelling & analytics, ClaimsPrimary focus product area whilst in Primary focus product area whilst in the Accelerator: Parametric Specific lines of business supported the Accelerator: Parametric, Life Specific lines of business supported (if applicable): Corporate, Speciality sciences (if applicable): Corporate, SME, Example of benefit of Accelerator to Captive organisation: FloodFlash received Example of benefit of Accelerator to great engagement across the market. organisation: Innovatrix Capital joined FloodFlash is an MGA providing The diversity of support oered Innovatrix Capital aims to oer a the Lab at an early stage and were parametric commercial flood insurance extended beyond the insurance parametric insurance product for the fortunate to receive strong feedback in the UK and US. FloodFlash has conversations it was expecting, taking life sciences sector. The product will and validations from mentors. This led created proprietary flood depth sensors, in everything from product design to cover risks associated with clinical to Innovatrix Capital expanding their which it installs outside insured marketing and pitching. It’s also an trial phase failure, to encourage product oering from a fully parametric businesses. The business receives a awesome location for us to be able to investment in life sciences. product, into 3 products; an indemnity pay-out when the sensor measures a bring partners, its broker connections, product, a semi-parametric product, flood depth that exceeds a trigger and the team.“ Innovatrix entered the Lab with a solution for a and parametric product. predefined by the policyholder. significant protection gap. Assisted by great Founded: 2017support from the Lab team, the programme Founded: 2021 “As an MGA and a Lloyd’s coverholder, the Status: Operating, still in insuranceprovided us with unrivalled access to and Status: Operating, still in insurance relationship with our capacity providers is insight from the Lloyd’s market that confirmed essential to the smooth running of our Company type: MGAthe viability of our innovative product.” Company type: MGA (planned) business. The Lab has helped develop Piers Clark, Co-Founder those relationships and build new ones.” Head oce: United Kingdom Head oce: United Kingdom Ian Bartholomew, Co-Founder Main global oces: United Kingdom, Main global oces: United Kingdom and Chief Underwriting OcerUSA Locations served: Global Locations served: United Kingdom, USA Employee count: 1-10 Employee count: 11-100 © Lloyd’s © Lloyd’s