Business News: Lloyd’s Lab, SUNZ Holdings, USI Affinity

Lloyd’s Lab Begins Global Search for Tech Talent

Lloyd’s Lab has launched a global search for tech talent to partner with the Lloyd’s market and develop solutions for its unique and rapidly changing needs, in a fast-track, fast-fail environment.

For the first time in its 330-year history, Lloyd’s is opening its doors to the global tech start-up and entrepreneur community, giving unparalleled access to the world’s largest insurance market for specialist insurance and reinsurance, in support of its digital evolution.

The Lloyd’s Lab global talent search, led by applied corporate innovation specialist L Marks, is looking for applications from entrepreneurs, alongside early and growth stage companies operating in the InsurTech space worldwide. This tech talent will help deliver innovative solutions to some of the key challenges the Lloyd’s market faces and make a real impact on the market’s performance.

Over ten weeks, selected start-ups will be given the unique opportunity to work with Lloyd’s market experts to shape the next big innovation. Start-ups will be given access to a state-of-the-art co-working space located in the Lloyd’s building in London, potential funding and the chance to develop products, platforms and processes that will help transform Lloyd’s into an increasingly technology-driven market.

The Lloyd’s Lab will initially focus on four key themes, developed with the Lloyd’s market with support from The Boston Consulting Group, together with a wildcard category. These include:

• enhancing the customer experience;
• building a relationship-driven culture for the digital age;
• powering data-driven underwriting; and
• creating smart insurance products.

Applications for the chance to win a place in the first cohort of the Lloyd’s Lab close on July 22, 2018. The most compelling applications will be put forward to pitch to Lloyd’s senior leadership and market representatives on September 3, 2018, with the inaugural Lloyd’s Lab cohort starting on October 8.

Interested start-ups, entrepreneurs and businesses interested in applying for the Lloyd’s Lab should visit www.lloydslab.com.

SUNZ Holdings Launches Expanded Subrogation Services

SUNZ Holdings, LLC, a provider of large deductible workers’ compensation insurance and insurance services to professional employer organizations, staffing companies and large employers, announced the formation of Avalon Subrogation Partners, LLC, a subrogation company focused on recovering claim payments from parties who may have caused or contributed to the accident or insured the loss.

The newly formed strategic alliance will allow SUNZ to substantially increase workers’ compensation claim payment recovery efforts.

USI Affinity Announces Availability of Enhanced Lawyers’ Professional Liability Insurance

USI Affinity announced the availability of an enhanced Lawyers’ Professional Liability Insurance policy in the following markets: N.J., Mass., Wash. D.C., Conn., Md., Va., and W.V. For all Lawyers’ Professional Liability policies expiring in and after July of 2018, USI Affinity will begin to offer the Attorneys’ Preferred Insurance Program, starting June 4th, 2018.

USI Affinity and The Hanover Insurance Group, Inc. organized a market-leading team with expertise and resources, to help protect and insure both small and large law firms. With state and local Bar Association endorsements from the Boston Bar Association, D.C. Bar and New Jersey State Bar Association, the USI Affinity “Attorneys’ Preferred” Insurance Program will offer insurance options to lawyers and law firms in seven different states.