Ki, the digital and algorithmically driven Lloyd’s follow platform, has entered into a multi-year partnership with Beazley by adding the insurer’s capacity to its platform.
This partnership will include Ki offering additional follow capacity from Beazley syndicate 2623/623 through its digital platform from 2 April 2024.
Having grown significantly since its launch in 2021, this is another major milestone in Ki’s journey to simplify and digitise the follow market, the firm stated.
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.
Adrian Cox, CEO of Beazley, 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.
“As a market leader we believe automatic-follow solutions bring welcome efficiency to the expertise-led underwriting for which our marketplace is rightly known.”
With Beazley joining Aspen, Travelers and Ki Syndicate 1618, brokers can now access capacity from four Lloyd’s syndicates on the platform.
Ki’s 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, the firm claimed.
Mark Allan, CEO of Ki, said: “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. Ki’s partnership model and approach to algorithmic underwriting will accelerate the adoption of digital follow in Lloyd’s.”
