Ki, the digital and algorithmically driven Lloyd’s syndicate, announced a partnership with Beazley whereby Ki will offer additional follow capacity from Beazley syndicate 2623/623 through its digital platform from April 2, 2024.
Ki said this is another major milestone in its journey to simplify and digitize the follow market at Lloyd’s. Ki has grown significantly since its launch in 2021, expanding its capacity and line size each year.
This business expansion will bring further value to brokers and their clients, accelerating the adoption of digital follow across the London market, Ki said.
The capacity will be available across Ki’s open market classes of business in the property, casualty and specialty divisions, delivering a more efficient means through which brokers can complete placements in Lloyd’s.
The multi-year partnership with Beazley, alongside the existing multi-year partnerships with Travelers and Aspen, and growth plans for Ki Syndicate 1618, will see Ki materially increase the follow capacity it is able to offer in 2024. Brokers can now access capacity from four Lloyd’s syndicates on the platform.
“We are delighted to launch our partnership with Beazley by adding their capacity to the Ki platform. Our vision is of an efficient digital follow market in Lloyd’s and the potential for technology to shape the future of our market,” commented Mark Allan, CEO of Ki.
“Ki’s partnership model and approach to algorithmic underwriting will accelerate the adoption of digital follow in Lloyd’s,” Allan said.
“We are pleased to be partnering with Ki and learning more about the capabilities of follow only algorithmic underwriting for open market business, having been an early mover in the follow market for facilities and consortia via Syndicate 5623,” said Adrian Cox, CEO of Beazley. “As a market leader we believe automatic-follow solutions bring welcome efficiency to the expertise-led underwriting for which our marketplace is rightly known.”
Source: Ki
Related:
- Markets/Coverages: Digital Lloyd’s Syndicate Ki Partners With Travelers and Aspen to Expand Follow Capacity
- Digital Lloyd’s Syndicate Ki Goes Live with List of Broker Trading Partners
- Digital Lloyd’s Syndicate Ki to Provide Howden with Follow Capacity
- UK Insurer Brit and Google Collaborate to Launch 1st Fully Digital Lloyd’s Syndicate
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