Layr is the only East Coast-based U.S. company selected from more than 200 applications worldwide.
Layr said it has been selected to participate in the inaugural cohort of Lloyd’s Lab, the InsurTech innovation accelerator by global insurance giant Lloyd’s of London. The company beat out more than 200 firms from 36 countries to be among the 10 companies in this first cohort. The 10-week accelerator will operate out of the historic Lloyd’s building in London.
Layr is a company in the Advanced Technology Development Center’s (ATDC) startup portfolio. Its intuitive, cloud-based platform enables companies to easily get the layer of liability insurance protection they need to succeed and pay for it monthly with a credit card.
“Lloyd’s is the world’s first and most respected insurance marketplace in existence and its commitment to InsurTech is a positive sign for the insurance industry,” said Phillip Naples, Layr’s co-founder and chief executive officer. “I
can’t think of a better or more prestigious partner to help Layr perfect its AI-powered underwriting and insurance carrier matching technology and look forward to the opportunities that this relationship will provide for us and our customers.”
Layr specifically plans to focus on moving closer to application-less underwriting and real-time risk identification for small commercial insurance to provide small businesses with the ability to intelligently purchase and manage their insurance online and with only a few simple clicks.
The Lloyd’s Lab is scheduled to begin Oct. 8, 2018 and over a 10-week span, the Lab teams will have access to 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.
Layr is the easiest way for companies to purchase and manage their commercial insurance. Our cloud-based platform walks small business owners through the process of selecting the right business insurance for their company, quoting a monthly price in real time that can be paid with a credit card, and intelligently matching the business with the insurance company best suited to provide the selected coverage. Layr also enables our customers to perform the most common insurance tasks like generating proof of insurance, adding and removing coverage, and filing claims completely online. For more information, visit withlayr.com. For updates, join us on LinkedIn, follow us on Facebook and Twitter, and visit our blog.