Ki has formed a new partnership with Beazley, as part of a move to expand its digital follow capacity within the Lloyd’s insurance market.
The multi-year deal will see Ki incorporate additional follow capacity from Beazley’s syndicate 2623/623 via its online platform, according to a company release.
This capacity will be available across Ki’s open market business sectors, the release added, including the property, casualty, and specialty divisions.
Mark Allan, CEO of Ki, commented on the partnership and said the additional capacity from Beazley will help the firm move closer to its goal of developing “an efficient digital follow market in Lloyd’s.”
“We are delighted to launch our partnership with Beazley by adding their capacity to the Ki platform,” he said.
Beazley CEO Adrian Cox also offered his thoughts on the partnership and said their team was eager to be “learning more about the capabilities of follow only algorithmic underwriting for open market business.”
He noted that Beazley has been “an early mover in the follow market for facilities and consortia via Syndicate 5623.”
“As a market leader we believe automatic-follow solutions bring welcome efficiency to the expertise-led underwriting for which our marketplace is rightly known,” Cox added.
In addition to Beazley, Ki has existing multi-year partnerships with Aspen and Travelers. These deals were first announced in late 2023.
“Ki’s partnership model and approach to algorithmic underwriting will accelerate the adoption of digital follow in Lloyd’s,” said Allan.
The Lloyd’s syndicate also made moves to grow its team last year, having tapped Catherine Barton as commercial director in May 2023.
Barton joined Ki from Zego, where she served as chief insurance officer. Her previous experience also included roles at Talbot Underwriting Limited, Bupa UK, EY, and Deloitte.
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