Brit announced plans to launch Ki, a standalone business and the first fully digital and algorithmically-driven Lloyd’s of London syndicate that will be accessible anywhere, at any time. In collaboration with Google Cloud, Ki will redefine the commercial insurance market as a ‘follow-only’ syndicate launching in 2021.
The new standalone business is expected to launch in 2021, and the pair state that its creation marks a step change for an industry yet to face the disruption seen across other financial services and industries. Ki, the Lloyd’s market’s first fully digital and algorithmically-driven syndicate, will be accessible anywhere, anytime, and aims to dramatically reduce the amount of time and effort it takes for brokers to place their follow capacity. It’s expected that this will help to drive greater efficiency, responsiveness and competitiveness.