Ki - creating a digital follow business in Lloyd’s
In this IIL London Market webinar, Mark Allan discussed the launch of Ki, the fully digital algorithmically driven follow-only Lloyd’s syndicate, explaining the business model, inspiration behind the launch and the potential benefits to the marketplace of a digital business.
Ki was launched in 2020 and is the first fully digital business in Lloyd’s history. It has embraced the strategy set out in the Lloyd’s Blueprint, driving towards a future where Lloyd’s stands out for its technology-enabled placement approach.
A typical follow placement might take three weeks to quote in the traditional model, a slow and cumbersome process for brokers and clients. Ki has transformed this experience, offering quotes through its digital platform in a matter of seconds.
In addition, underwriting is performed by a series of algorithms across 30+ lines of business, trained on Brit’s underwriting data and experience. This game-changing approach has the potential to drive a revolution in the Lloyd’s market and beyond.
By the end of this webinar members would have gained an insight into:
- How this innovative business was launched from inside Brit
- How the model improves the Lloyd’s experience
- How it could change the wider marketplace and benefit Lloyd’s
Venue
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