This partnership aims to provide Dubai-based startups with access to the London market, fostering growth and development within the insurtech industry.

Through the accelerator, insurtech startups participating in Lloyd’s Lab programme will receive support in establishing a presence and expanding their operations. Accepted Dubai-based insurtechs will gain entry into the London market, along with potential investment opportunities, commercial product testing, networking prospects, and guidance.

Programme will help Dubai-based insurers transition to the UK

Dawn Miller, the commercial director at Lloyd’s, expressed the organisation’s commitment to expanding the pool of innovative talent capable of working with both Lloyd’s and the global insurance markets. The collaboration with Dubai aims to facilitate more efficient and sustainable processes to address emerging risks worldwide.

In addition to the insurtech accelerator, Lloyd’s and DET will assist Dubai-based companies in transitioning to the UK and promote their insurance offerings in the country. This support will further bolster the growth of Dubai’s insurtech sector and contribute to the overall advancement of the tech ecosystem in the emirate.

The collaboration between Lloyd’s and DET highlights the significance of fostering innovation and creating opportunities for startups in the rapidly evolving insurance industry.

Source: UKTN