60 Claims – Alumni profiles Lloyd’s Lab Impact Report 61 Baker Tilly (Quantum) Focus in insurance value chain/ Activity in the Accelerator Cargosnap Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Claims COHORT ,  workflow: Claims Primary focus product area whilst in Primary focus product area whilst in Specific lines of business supported the Accelerator: Improving policy and Specific lines of business supported the Accelerator: Improving claims (if applicable): SME claims admin, Improving claims (if applicable): Corporate, SME process process Example of benefit of Accelerator to Example of benefit of Accelerator to organisation: Being selected for the Baker Tilly is a global accounting and organisation: Baker Tilly worked Cargosnap is a photographic proof of first cohort of the Lloyd’s Lab was very consulting firm. It has developed with a number of insurers to develop condition app for logistics businesses. It exciting for Cargosnap and it gave the Quantum, a digital claims calculation a model library for Quantum and provides image and document scanning, company recognition for what it was platform for commercial insurers to use stress-test its system operationally, storing, sharing and reporting services. building at the time. During the for business interruption claims. with signs suggesting it can enable Businesses can create checklists from a 10-weeks of the Lab programme, insurers to approve business range of pre-built templates including Cargosnap was still in an early stage of “ Lloyds Lab was a gateway to the Lloyd's interruption claims in just a few days. those for trucks and trailers, containers development and seeking its angle and market with direct links to the ideal clientele and more. The company aims to improve approach to the market. The support for Quantum. The Lab gave the exploratory / customers' operations, speed up claims they received from the Lab team and safe workspace to stress test and fulfil our Founded: 1931 and provide supply chain partners with Founded: 2017 development needs on our business the interaction with peers proved interruption calculator. It was a great Status: Operating, still in insurance more insight into operations. Status: Operating, still in insurance beneficial to helping shape their goals, experience!” Company type: Other Company type: Customer App ICP (Ideal Customer Profile) and go-to “Today, years after ‘Cohort 1’, Cargosnap is a market approach. Jack Torpey, Partner different company. We’re much bigger, our Head oce: USA product more mature and we’re growing faster. Head oce: The Netherlands Main global oces: USA The Lloyd’s lab will always be on my mind as one of Main global oces: The Netherlands those early stage ‘steps’ to getting where we are Locations served: USA now and where we are going!” Locations served: Global Marcel Merkx, Chief Executive Officer Employee count: 1001+ Employee count: 11-100 BelMead Tech Focus in insurance value chain/ Activity in the Accelerator Field Pros Direct Focus in insurance value chain/ Activity in the Accelerator (Belvedere Mead) workflow: Loss modelling & COHORT ,  workflow: Claims analytics, Claims Primary focus product area whilst in Primary focus product area whilst in COHORT ,  the Accelerator: Improving policy Specific lines of business supported the Accelerator: Improving policy and Specific lines of business supported and claims admin, Enhancing back-end (if applicable): claims admin, Improving claims process (if applicable): data eciencies, Improving claims process Example of benefit of Accelerator to organisation: FPD acquired Belvedere Mead is a claims consultancy Example of benefit of Accelerator to Field Pros Direct (FPD) has created a Bridgewater Group after an that provides outsourced claims organisation: With the support of virtual claims management solution for introduction made by the company’s management services to those the Accelerator, BelMead designed policyholders to document damage to a mentors at Atrium. FPD also gained operating in the London Market. From its Simplify Claims platform, which property with videos and photos valuable knowledge around the data its experience with the claims process, aimed to reduce ineciencies in the accessible via a weblink. Field Pros will needs of Lloyd’s Managing Agents the company designed its Simplify claims settlement process. BelMead’s analyse the information sent using AI, and Coverholders, which it has Claims platform with the main aim of product was paused in 2020 after machine learning, and predictive used to tailor its solutions. helping service providers 'such as loss financial diculties, but the company analytics. FPD also connects to a adjusters and lawyers from TPAs' to Founded: 2010 says the need still exists for a solution network of independent field adjusters Founded: 2017 Following its involvement in the better understand the collaboration of to manage communications in an in the USA who are sorted based on their Accelerator, FPD was used by Atrium relevant parties on the claim file. Status: Operating, still in insurance ecient, open manner for complex area of expertise and locations served. Status: Operating, still in insurance Underwriters, whose employees multi-carrier claims. explained that their virtual adjusting Company type: Other, Administration Company type: Administration system service paired with the tool has been system used to improve turnaround times for Head oce: North America Head oce: United Kingdom their clients and reduce the cost on Main global oces: USA insurers when handling claims. The Lab Main global oces: United Kingdom also helped the development of AI Locations served: USA Inspection, a product that automates Locations served: United Kingdom data collection and interpretation for Employee count: 11-100 Employee count: 1-10 both loss control and claims. © Lloyd’s