Alongside the agreement, a collaboration between Ki, Howden and Hyperion X will look to develop of a fully-digital end-to-end Lloyd’s placement over 2021.
Handshake-close-up-photoKi was launched in May 2020 and aims to significantly reduce the amount of time taken for brokers to place their follow capacity.
Ki’s algorithm will evaluate Lloyd’s policies and automatically quote for business through an always available digital platform, built by Google Cloud and accessed directly by brokers.
Ki will write a broad range of specialty business following selected leaders in the Lloyd’s market, including Brit.
Mark Allan, CEO of Ki, commented, “We are delighted to be partnering with Howden and Hyperion X. The creation of the first fully digital end-to-end Lloyd’s placement is another significant milestone, and we are proud that Ki is a central part of this.
“We believe digital models have major advantages for Lloyd’s and unlock substantial opportunities for the market in the future.”
Barnaby Rugge-Price, Executive Chair of Hyperion X and Chair of Howden Broking Group, said, “Howden’s commitment to transaction efficiency allows our people to focus their expertise and time on the areas that add the greatest value for clients.
“Ki shares our vision for the market with all the benefits it brings for clients, brokers and capital providers. Hyperion X’s data, technology and automation is key to the delivery of transaction efficiency and has been a real catalyst for progress.
“This partnership is just the start of a significant long-term relationship between Howden and Ki, we look forward to collaborating, growing together and driving innovation across the market.”
Source: Reinsurance News
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