LONDON – 1 September 2026 – Parsyl, a technology-native specialty supply chain insurer, announced today that it has received "in principle" approval from Lloyd's to transition from a Syndicate-in-a-Box (SIAB) to a full Lloyd's syndicate.

Parsyl entered Lloyd's in 2018 through the inaugural Lloyd's Lab innovation accelerator, believing that data and technology could transform specialty insurance. Its origins began in global health, where limited visibility into the condition of medicines and vaccines made these critical supply chains difficult to insure and risk manage.

By combining small monitoring sensors with insurance, Parsyl gained visibility into these supply chain “data dark zones” and pioneered a new approach to underwriting that led to the creation of Syndicate 1796 as a SIAB in 2021. The syndicate takes its name from the year 1796, when British physician Edward Jenner developed the first successful vaccine. It’s a nod to Parsyl’s origins in protecting global health supply chains and its continued focus on creating value for the world by understanding and reducing risk.

Parsyl is now a top quartile cargo market at Lloyd’s by written premium, leading 80% of its business, and spearheads the Essential Consortium, the only Lloyd’s consortium focused exclusively on insuring the world’s essential supply chains. Syndicate 1796 has also attracted strong third-party capital support.

"We came to Lloyd’s to build a better way to insure global supply chains. The SIAB program gave us a framework to test our model, prove our underwriting discipline, and earn our place in the market,” said Ben Hubbard, Parsyl CEO. "Becoming a full syndicate validates our approach and allows us to bring that model to new areas of specialty insurance."

Dawn Miller, Lloyd’s Chief Commercial Officer and CEO of Lloyd’s Americas, said: "Lloyd’s is delighted to welcome Parsyl as a full syndicate. Parsyl's journey from the inaugural Lloyd's Lab cohort is a powerful example of what can happen when innovative businesses work closely with the market to test, refine and prove their proposition. Parsyl’s progression reflects not only continued underwriting performance, but also the value of creating an environment where new ideas can be challenged, validated and adopted.”

Since 2022, Parsyl has grown its gross written premium nearly eightfold. Pivotal to that growth is Parsyl’s fully integrated, AI-powered platform, developed in-house to manage the full risk lifecycle (underwriting, policy administration and claims) within a single system. Today, submissions are processed in minutes and submission-to-quote times have reduced by more than 80%, while integrations with external market infrastructure, including Lloyd's Electronic Claims File (ECF), drive additional operational efficiencies.

About Parsyl

Parsyl is an insurer of complex supply chain risks that uses enhanced data and technology to understand, price and mitigate risk. Parsyl offers its customers more tailored underwriting and insights-based risk management that reduces waste and saves money. Parsyl leads the Essential Consortium at Lloyd’s of London, is a Lloyd’s Coverholder, and operates Syndicate 1796, the first mission-driven syndicate at Lloyd’s. Parsyl offers a full suite of A-rated cargo insurance solutions, including Cargo and Stock Throughput, Stock and Excess Stock, Shipper’s Interest, Cargo Legal Liability and Warehouse Legal Liability. Parsyl is based in Denver, CO with offices in London, England and New York, NY and can be found at parsyl.com.