Insurtech Magazine September 2023 | Page 15

A Cityscape of Dubai , United Arab Emirates . The scene where the general insurance market is set to grow 13.2 % thanks to regulatory changes and rising premium rates , according to GlobalData . Mandatory health insurance is the key legal change behind this anticipated growth . As a result , Lloyd ’ s has partnered with Dubai ’ s government to create a new insurtech accelerator to boost innovation in the region . Signing a memorandum of understanding with Dubai ’ s Department of Economy and Tourism , Lloyd ’ s does not only hope to foster new insurtech innovation for general insurance but also to support its autonomous vehicles sector and transition to net zero . insurtechdigital . com 15