Ki, the fully digital and algorithmically-driven Lloyd’s of London syndicate, has released its new Broker API platform along with its strong first quarter results.
Since it began trading at the beginning of this year, it has bound over 1,000 risks in the first quarter of this year and is on track to deliver its targeted full year premium.
During the period, Ki transacted with each of its broking partners and in all of its classes of business. It’s expanded its market presence by onboarding the reinsurance divisions of its partner brokers and increasing its active user base on the Ki platform to over 800 brokers.
Ki has also developed and released its first Broker API, allowing partner brokers to integrate digitally with Ki and create a totally seamless connection to its algorithm to obtain quotes within their own broking platform.
Mark Allan, CEO of Ki, commented: “We are delighted by the market response to Ki so far, proving the potential for technology in our market.
“We have built Ki in London, for London, and the brokers have embraced the idea that Ki makes Lloyd’s a stronger proposition globally. We plan to expand further with our partners, giving them and their clients access to valuable capacity in Lloyd’s.
“We have also shown the potential of our talented tech and data teams with the enhancements we have already made to our platform.
“Our response time has improved from 60 seconds to around 10 seconds on average, and we have now created a game-changing API capability that allows quotes to be requested directly by a digital broking platform. We look forward to establishing our first partner integrations shortly.”