Twelve start-ups have been selected for the 16th cohort of the Lloyd’s Lab following a pitch day, including software group Elysia, owned by Australian mining giant Fortescue.  

Elysia says its software “unlocks” battery observability and performance.  

“We’re now .... developing advanced battery technology to enable insurers to make more confident decisions on risk, pricing, bankability and asset life optimisation,” it says.

“We’re looking forward to collaborating across the 10-week program to bring battery intelligence into new industries, accelerate the green transition and drive forward decarbonisation through innovation and technology.”

The Lloyd’s Lab program – which runs twice a year – gives start-ups, scale-ups and sometimes mature companies 10 weeks to work with market experts to shape and test their innovations.

Here are the 12 businesses:  

Defenza: aims to make sophisticated cybersecurity protection available beyond the office, safeguarding the homes, personal devices and digital identities of high net worth individuals and executives.

Elysia: applies AI models to optimise battery lifetime, performance and safety. Serves the electric vehicle, stationary storage and mining sectors, and makes battery-related risks more manageable for insurers.  

Elysian: AI claims services company offering audit solutions for commercial claims.

Exona Lab: Quantifies advanced AI risks for the Lloyd’s market.  

ITUS Protect: a cyber risk intelligence platform designed to strengthen SME resilience and improve underwriting decisions with risk scores.

Nolana: an operating system designed to automate complex insurance operations. Agentic AI modules offer dynamic first notice of loss, automated claims decisions and customisable AI procedures.  

Phyll: a continuously updating record of roads, drainage, utilities and other critical assets.  

Plain Site: a property insurance product that builds nature-based flood interventions directly into the policy.  

Plastic-i: provides environmental intelligence to enable the underwriting of volatile water-related hazards such as harmful algal blooms. 

PolicyCheck: AI platform converts coverholder binding authorities and complex endorsements into “queryable” digital twins, delivering pre-bind clarity by automatically detecting wording misalignment and unintended exposure.  

Resilico: collects property and behavioural data to reduce flood risk and support industry-approved flood rating schemes.  

Vera: placement assistant that streamlines complex cyber insurance document workflows, increasing broker productivity and placement accuracy.