Lloyds Bank and the Dubai Department of Economy and Tourism (DET) have signed an agreement to collaborate on an insurtech accelerator.
The accelerator will give insurtech startups on Lloyds’ Lab programme help with establishing a base and growing operations in Dubai.
For Dubai-based insurtechs accepted onto Lloyds Lab accelerator they will gain entry into London, possible investment, commercial product testing, networking and guidance.
Dawn Miller, commercial director of Lloyds Bank, said: “Our work with Dubai is part of our ambition to increase the pool of innovation talent that can work both with the Lloyd’s and global insurances markets, while enabling more effective, sustainable process to address risks that are emerging across the globe.”
The bank and DET will also promote Dubai-based companies to move to the UK along with promoting their insurance offerings in the country and further.
Hadi Badri, CEO of Dubai Economic Development Corporation, said: “Access to key features of the award-winning Lloyd’s Lab accelerator will give Dubai-based startups the knowledge and tools they need to build and scale new products and solutions that will advance the emirate’s insurtech sector and wider tech ecosystem.”
UK tech investments from Lloyds include digital ID startup Yoti and car admin app Caura.
The post Lloyds Bank signs Dubai insurtech accelerator agreement appeared first on UKTN | UK Tech News.
