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Blog: Week 8 with CargoSnap

Mon 3 Dec 2018

Team CargoSnap entered Lloyd’s Lab 8 weeks ago like an impeccably staged Dad joke: “A Dutchman, a Brazilian and an American walk into a bar…”.  

OK, it was the iconic Lloyd’s building rather than The Lamb Tavern, but we had indeed travelled from afar to be together at The Lab.  We arrived intent on pushing ourselves outside of the comfort zone of our shared logistics backgrounds to make a real impact within the Lloyd’s Market.

We pitched our initial InsurTech offering to the Lloyd’s Agency with great hope and mild trepidation.  Initial feedback to our Agency Survey Tool was overwhelmingly positive, so we innocently predicted plain sailing ahead.  We should of course have known better.

Our sharp and tactful mentors soon suggested that, while our offering was solid, it was less ambitious than the market craved.  They pushed us to search for meatier opportunities which could still fit comfortably within our business model.  They threw down the gauntlet and we accepted the challenge. We’ve come to call this uplifting moment ‘The Splash’.

So, in addition to avidly rolling out our first product in the Lab, we’ve spent our remaining waking hours immersing ourselves in the Lloyd’s world and building upon our second.  We’ve had calls in the twilight hours, pushed the boundaries of our circadian rhythms, kept our mentors in the market on speed-dial and tested the angelic patience of loved ones at home.

The Splash was a great moment for CargoSnap which reinforced the values driven by the Lloyd’s Lab and the supporting forces in the market.  We arrived believing low-hanging fruit was the sure path to sustenance yet were nudged to keeping climbing for delectable morsels in the higher branches.  The reward of this mission has been the development of a truly transformative risk management solution that is faithful to our goal of creating better global supply chains with transparency and increased visibility.

We are thankful to our mentors and the Lloyd’s Lab for the opportunity to take this journey.  And in two-weeks’ time, after our last working day in the Lab, we look forward to walking arm-in-arm with them into The Lamb to celebrate.