As artificial intelligence reshapes industries, it also introduces new and unpredictable risks. Traditional insurance models struggle to keep up with the pace of change, leaving businesses exposed. Armilla, coverholder at Lloyd’s is the world’s only managing general agent (MGA) exclusively focused on AI insurance. Armilla combines deep technical expertise in assessing AI risk with innovative insurance solutions. By pioneering AI-specific insurance products, Armilla empowers AI pioneers to confidently deploy AI.
For centuries, Lloyd’s has been the go-to marketplace for insuring emerging risks. From the first aviation policies to the rise of cyber insurance, Lloyd’s has consistently provided underwriting expertise for industries at the cutting edge of technological advancement. AI-driven risks are the next frontier, and Lloyd’s is the ideal platform to develop solutions that address these evolving challenges.
Our AI insurance journey began in Lloyd’s Lab, an accelerator designed to foster innovation in insurance. Through this program, we refined our product, collaborated with industry experts, and gained invaluable insights into the unique challenges of insuring AI risks. This experience laid the foundation for our launch at Lloyd’s and ensured our product was built to meet the highest industry standards.
AI risk is complex and multifaceted—ranging from algorithmic failures to regulatory shifts and ethical concerns. At Lloyd’s, underwriters specialize in assessing uncertain and high-impact risks. By leveraging a syndicate-based approach, Lloyd’s enables a diversity of perspectives and deep expertise, ensuring AI insurance is developed with robust underwriting frameworks.
Armilla has global ambition. Lloyd’s brings us global credibility. With licenses in over 200 territories, policies underwritten at Lloyd’s are recognized and trusted worldwide. This reach is crucial for AI-driven businesses, which often operate across multiple jurisdictions and require seamless insurance solutions that adapt to different regulatory landscapes.
AI presents both immense opportunities and significant risks. Businesses adopting AI need confidence that they are protected against unforeseen liabilities. By launching our AI insurance product through Lloyd’s, we ensure that our clients benefit from the most sophisticated underwriting capabilities in the world.
Lloyd’s has always been where the future of insurance is written. And as AI transforms the global economy, we’re proud to be writing the next chapter in risk innovation within the Lloyd’s marketplace.
