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On Monday 3rd September, CEO Cate Gwilliam pitched to Lloyd's of London for Geollect to win a place in the first cohort of Lloyd's Lab and we are very pleased to announce that Geollect was selected as one of the winning 10 InsurTech disruptors.
Press Release issued by Lloyd's of London here...
Lloyd’s Lab, the global insurance market’s new innovation accelerator, today opened its doors following a global search for technology talent that drew more than 200 applications from 36 countries. Today’s event, attended by the Economic Secretary to the Treasury, John Glen MP, and Lloyd’s Chief Executive Officer Inga Beale, saw 20 teams pitching their ideas for the chance to develop products, platforms and processes that will help transform Lloyd’s into an increasingly technology-driven market.
Start-ups, entrepreneurs and businesses from as far afield as the US, Canada, Israel, the Netherlands, Ireland and the UK, presented ideas ranging from live-streaming drones for fast risk and disaster assessment, to harnessing the Internet of Things for live cargo tracking, to on-demand insurance for the gig economy.
Following the competitive application and pitching process, Lloyd’s has revealed the teams that will be offered a spot in the founding Lloyd’s Lab cohort, kicking off on 8 October*. These include:
The teams joining the Lab will gain unparalleled access to the world’s largest market for specialist insurance and reinsurance, in support of its digital evolution. 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 in a fast-track fast-fail environment.
Over the ten weeks, the selected Lab teams will have access to a dynamic 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. They will be supported by the Lloyd’s market who will offer their insight and expertise to help develop the ideas for their unique needs.
Speaking about the significance of the Lloyd’s Lab as a hub for global InsurTech excellence, John Glen, Economic Secretary to the Treasury said:
“InsurTech is booming. There was $724m of InsurTech investment globally in the first quarter of 2018 and the UK attracted 12% of that funding, placing it second only behind the US. We’re doing everything we can to maintain this momentum and cultivate innovation in the sector, but ultimately, it is down to firms like Lloyd’s to take the lead, and that’s exactly what they’re doing with their Lab.”
Inga Beale, Lloyd’s CEO added:
“Lloyd’s has always been at the forefront of innovation - the launch of our new innovation accelerator is an important step forward into our technology-driven future and we’re excited to see how the ideas develop. The Lab is an important part of our future focused strategy which will further strengthen our position as the global centre for insurance innovation.”
The launch of the Lab represents a significant milestone for Lloyd’s as it moves to modernise and harness the opportunities that advanced technology can offer to the 330-year old market and has been supported by applied corporate innovation specialist L Marks together with The Boston Consulting Group.
Applications for the second Lloyd’s Lab cohort will open later this year, for an early 2019 start. More details will be announced in due course.
Start-ups, entrepreneurs and businesses interested in applying for the Lloyd’s Lab should visit www.lloydslab.com.
Notes to Editors
*Lloyd’s offer is subject to the business satisfying the joining requirements, including the signing of participation agreement that protects all parties involved.
Lloyd’s is the world’s specialist insurance and reinsurance market.
With expertise earned over centuries, Lloyd’s is the foundation of the insurance industry and the future of it. Led by expert underwriters and brokers in more than 200 territories, the Lloyd’s market develops the essential, complex and critical insurance needed to underwrite human progress.
Backed by diverse global capital and excellent financial ratings, Lloyd’s works with a global network of over 4000 insurance professionals to grow the insured world – building resilience for businesses and local communities and strengthening economic growth around the world.
DATE AND TIME
Tue, August 21, 2018 6:00 PM – 7:30 PM CAT
Thabo Mbeki Road
Join us for an evening of unique perspectives as we host the team at Geollect a UK and US based global Geospatial Intelligence (GEOINT) Company, which provides a synthesis of cutting edge data feeds with proven advanced geospatial analysis.
What they will cover?
Meet the Panelists:
Cate Gwilliam is CEO and co-founder of Geollect, a UK and US based geospatial intelligence analytics company, which uses leading-edge geospatial analytic techniques and remote sensing to provide actionable insights for global businesses to support critical decision-making. Cate is a career Geo-Spatial Analyst who has over 14 years experience of both private and public work in the Geo-Spatial Information Systems and Intelligence, including senior Geo-Spatial Analyst appointments in the US Department of Homeland Security and National Geographic Agency. Her private commercial sector experience has seen her work in a variety of senior commercial posts at Booz Allen and Rezatec Ltd leading product development of geospatial data services for water utilities, energy and agriculture including the assessment of critical national infrastructure.
Richard Gwilliam is Geollect’s gregarious Chief Operating Officer and co-founder. He has over 20 years experience across engineering, intelligence and security disciplines, managing world class technicians and analysts on UK & international military operations across the globe. He has worked to deliver innovative solutions in single and multi-format teams , both within the context of multi-million pound logistics support, and strategic risk management. He is a highly effective and confident business manager with the essential strategic planning and implementation skills required to deliver major projects.
Marius-Florin is Geollect’s Geo-Spatial Intelligence Officer. He is working towards a PhD in Geography and Cartography, and holds a Master's Degree in Geographic Information Systems from the West University of Timisoara. He has over 7 years of experience in the development of ESRI ArcGIS software for spatial databases, spatial analysis and designing solutions to solve business requirements. He is an expert in Precision Agriculture projects, Geo-spatial databases, and and socio-economic forecasting of development initiatives.
Philip Mhango is the Zambian born Head of International Development for Geollect and is leading the implementation of Geollect Africa, a Zambian based subsidiary , dedicated to the development of Geo-Spatial Analysis products for the regional African market. His current market research is focused around how to make technologies including automated drone imaging, precision agriculture, land management, asset tracking and business intelligence more accessible to SMEs in Zambia.
When should I arrive?
Anytime from 5:30pm, we'll be kicking things off at 6:00pm
Where can I park?
Free parking at BongoHive with a lot space.
Do I have to bring my printed ticket to the event?
There's no need to print your ticket. Simply bring an electronic copy on your mobile device.
DATE AND TIMETue, August 21, 2018
6:00 PM – 7:30 PM CAT
Add to Calendar
Thabo Mbeki Road
Lusaka, Lusaka Province 10101
UK P&I Club has published a press release based on the feedback from their Membership Based on this feedback, they have continued to evolve Geollects' Maritime Intelligence Portal. The portal is now based on a global map and shows the following:
Read more about this and view the Geollect portal on the UK P&I website
Geollect will be exhibiting in the Esri User Conference 2018 Start-up Zone, and we are proud to say we will be the only UK start-up company there! Find out more about the sponsors and exhibitors here.
As a start-up less than a year into its journey, Geollect is excited to be able to use a venue like the Esri UC to unveil some of the unique geospatial intelligence capabilities we’ve been working hard to develop and implement. The Geollect team will demonstrate the benefits and efficiencies we have brought to the maritime industry, in particular the insurance market.
Geollect's Cate Gwilliam, will be giving a Spotlight Talk in the Start-up Zone Spotlight Theater on Tuesday, 10 July at 13:30. The talk will focus on the automated maritime risk mitigation model that we have developed that helps to identify the safest and quickest maritime transits through areas of concern, reducing risk, saving time and money.
Thanks to innovators in the field like the UK P&I Loss Prevention team, Geollect’s Maritime Intelligence Portal has transformed the way Loss Prevention stores, organises, visualises and analyses their data combined with Geollect’s geospatial analytics.
George Devereese, Senior Loss Prevention Executive, UK P&I Club, said: “We believe there is a compelling need within maritime risk to modernise and fuse disparate reporting mechanisms. Visualising the political atmosphere on top of port infrastructure and activity layers via geospatial data services can provide insights into the risks associated with each specific port and the Club is aiming to create the most extensive incident and information resource within the P&I industry.
“Incorporating Geollect’s data and information will give us an operational advantage over our competition, as well as providing us with lower operational risk and increase efficiencies. This is just the start for us and we will look to our members to let us know what other information will be useful.”
Cate Gwilliam, CEO, Geollect said “The key to our success has been our agility and ability to adapt to the customer requirements, this has only been possible through the strong relationship we have built with UK P&I. Our products have wide application across government and commercial sectors, our niche is in the maritime sector encompassing shipping, insurance, energy, infrastructure, safety and security. The Geollect team is committed to remaining at the forefront of any and all geospatial technological advances to ensure our clients and partners receive the most effective and cost-efficient support and services.”
The UK P&I Club, which is navigating with the goal of providing members as much relevant information as possible, has partnered with geospatial intelligence firm Geollect. The tie-up is aimed at painting what the marine insurer described as “a complete picture” of worldwide maritime incidents and alerts.
The new resource will feature live incident reporting as well as information on collision areas, infrastructure repairs, and piracy updates. It will also provide easy access to the Club’s online knowledge base.
Find out more about what we do for UK P&I Club and view a sample portal on our Maritime Security page.
Read full press release here
News from the Geollect team