Global law firm Clyde & Co is leading and mentoring a team of law and business students from around the world as part of this year’s high profile LawWithoutWalls global innovation programme.
LawWithoutWalls (LWOW) is a collaborative academic model founded in 2010 by Professor Michele DeStefano of Miami University. The 2018 programme partners academics, business leaders, entrepreneurs, and legal mentors with 100 students to work on a problem related to law, business and technology. The teams work remotely to create an innovative solution that they will present back at an event on 21 April 2018.
This year, Clyde & Co is mentoring three students and three business professionals as part of a team to create a solution for the firm's chosen topic: “Cultivating resilience: how blockchain and decentralised networks can be used to help reduce the insurance protection gap in emerging economies.”
Leading and mentoring the team from Clyde & Co are:
• Lee Bacon, partner at Clyde & Co and co-founder of Clyde Code, who will act as team leader.
• Nigel Brook, partner at Clyde & Co and co-founder of Clyde Code, who will act as team expert.
• Chris White, Chief Information Officer at Clyde & Co, and Sarah Chipping, Global IT Service Delivery Manager, who will act as mentors.
The Clyde & Co team meets weekly to fine tune the problem and find a solution and business plan that bridges legal innovation and sustainability. They will present their solution, along with the other teams, after 16 weeks of collaboration, on 21 April at an event at the University of Miami.
Lee Bacon, partner at Clyde & Co, comments: “Clyde & Co has a real interest in understanding how technology can help to close the insurance protection gap and build greater resilience into the global economy.
"Our chosen topic for this year's LWOW programme draws on our blockchain expertise developed through our smart contracts consultancy, Clyde Code. We're really looking forward to working with the students and seeing the fresh perspective that they can bring to the table."
This partnership is part of Clyde & Co's focus on technology and innovation. In September 2017, the firm launched Clyde Code, an innovative new consultancy to advise insurers on all aspects of the burgeoning new area of smart contracts, blockchain and distributed ledger technologies. In 2017, lawyers from the firm provided legal workshops to start-ups in Startupbootcamp InsurTech London's 2017 cohort, and in the past six months has partnered with insurtech initatives Insurlab Germany and Hartford InsurTech Hub.