Willog Joins Lloyd's Lab Cohort as First Korean Company, Expanding into Global Insurance Market
Willog has become the first South Korean company and the only Asian firm selected for Cohort 17 of Lloyd’s Lab, a prestigious insurtech accelerator program run by Lloyd's of London. Out of 280 global applicants, Willog was one of just ten companies chosen to participate in this cohort. This marks a significant step toward entering the international insurance market and validates its business model through endorsement from a leading industry platform. Lloyd’s Lab provides participating startups with direct support and collaboration opportunities with underwriters and brokers without taking equity stakes. Alumni have collectively raised over $1.4 billion in funding and generated more than $426 million in gross written premium (GWP). Willog aims to leverage its AIoT-based logistics data, collected through proprietary devices, to enhance insurance risk assessment and pricing. The company plans to collaborate with insurers during the program to develop a dedicated logistics-focused insurance product. By integrating real-time cargo condition monitoring into underwriting processes, Willog addresses a long-standing gap in the market: reliable infrastructure for logistics-related insurance data.
Topics: AIoT insurtech Lloyd's Lab supply chain intelligence