Lloyd’s backs Axio and REOR20
Lloyd's is announcing the first two investments from its Central Fund private markets allocation which will support two Lloyd’s Lab alumni, Axio and REOR20 – to develop their insurance solutions within the London insurance market.
The allocation from the Central Fund is dedicated to investing within certain Lloyd’s Lab alumni who can support the Lloyd’s market with innovative technologies and solutions.
Axio, based in NY, offers a software that analyzes cyber maturity assessments, cyber risk quantification, and insurance stress testing so security leaders can make more effective decisions about their cyber investments and priorities.
REOR20, based in Switzerland, developed an AI system for understanding and mitigating flood risk.
“As part of Lloyd’s ongoing commitment to innovation, today’s announcement is an excellent example of the power of Lloyd’s Lab’s accelerator programme, which forms an integral part of our innovation hub located in the heart of The City. We look forward to driving the increased prominence of the Lab in its mission to innovate the market, through our support and backing of companies with exceptional solutions.” – Dawn Miller, Lloyd’s Commercial Director.
“The Lloyd’s Lab is a centre of innovation for the insurance industry giving us as investors the opportunity to back great companies ourselves where we have a strong shared interest for our industry. We’re able to generate attractive return on capital and aid the growth of these companies for the benefit of the market.” – Eleanor Bucks, Lloyd’s Chief Investment Officer.
“I’m honored to welcome Lloyd’s to the Axio investor family. One of our founding goals was to help the insurance industry better tackle cybersecurity risk, and the investment support from Lloyd’s is evidence of our unique ability to deliver on that goal. We’re now excited to work even more closely with the Lloyd’s Market to help it deliver better coverage solutions, especially for the most challenging areas of cybersecurity risk.” – Scott Kannry, Axio CEO.
“Lloyd’s investment in our innovative tech startup is not just a financial backing; it’s an endorsement from the heart of the global insurance ecosystem. Lloyd’s commitment to excellence propels aspirations into achievements, and provides limitless opportunities for the future.” – Danny Chatziprodromou, REOR20 CEO and Founder.
