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Lloyd ’ s Lab connects insurtech founders with one of the largest and oldest insurance markets in the world , Lloyd ’ s of London . The accelerator programme , therefore , boasts an unparalleled reputation within insurance circles and helps founders to grow their book of contacts . Lloyd ’ s Lab helps startups grow from innovation through to traction and market success . It comes with a coworking space in London , access to experienced insurance professionals , and a highly focused environment for nurturing participating startups .

In 2015 , three years before its acquisition by insurance giant AXA , XL Group launched its first venture capital initiative called XL Innovate . The group aimed to invest in companies with a focus on developing new capabilities in the insurance sector , and creating partnerships outside the traditional underwriting space to enable uninsured risks to be underwritten . The new vehicle provided not only investment , but advice and guidance too , usually taking an equity position in the companies it invested in .