A case study- Ki in action .

Built to simplify

The Ki broker platform offers a seamless and highly efficient experience for brokers working within the Lloyd’s market to secure follow capacity for their clients, Ki is the first of its kind, designed to empower brokers to offer more capacity digitally and in seconds, rather than in days, as is the norm.

The platform’s design and features  are built around simplifying the brokers journey, ensuring easy access to both renewals and new business opportunities, while leveraging advanced technology to provide valuable data insights to do risk assessment and portfolio management from structured data.

But how does it work? Let’s take a look at a property risk put through the platform

One of the standout features is the North American open market property quote process, which highlights the platform’s capabilities in risk assessment and exposure management. This process requires a lot of data, but we aim to remove the burden from brokers by leveraging 3rd party data and tools to extract data from the Schedule of Values. These capabilities underpin our ability to offer meaningful capacity to brokers from multiple syndicates and provide consistency year-on-year.

The platform’s Schedule of Values Ingestion capability is another key differentiator. It allows brokers to provide detailed asset-level data for property risks—something that’s crucial in the Lloyd’s market. The system uses machine learning to automatically identify and extract relevant information from the risk schedule, mapping this data for accurate risk assessment. For example, the platform can identify and pull in critical location data like ZIP codes, as well as total insured values (TIV) for each property. The system then validates this data, ensuring that insured values align with the correct coverage amounts and risk factors, with simple prompts to guide brokers through the process.

The ease of use doesn’t stop there. The platform leverages geolocation tools to send address information to Google’s geocoding API, providing accurate latitude and longitude data which we can use to understand the impact of a risk on our exposure across our existing portfolio, and adjust what we’re offering. This along with the third-party data feeds into our location level pricing and risk assessment, giving us a rich data set to make a decision in a matter of seconds.

What makes Ki different?

The differentiator for Ki vs other underwriters is that this all happens in real time, at the point of quote allowing us to look at our quoted and in-force exposures and utilize this data to influence our underwriting decisions. This allows us to grow our capacity offers in areas where we have appetite and are underexposed and exercises control as we reach exposure thresholds.

We are also able to be responsive to real world changes, our Portfolio Managers have access to our own internal digital tools that allow them to adjust our risk appetite based on market changing events.

After entering the necessary information and confirming that everything is correct, brokers can quickly receive a quote with capacity offers from 4 Lloyd’s syndicates – Aspen Digital, Beazley, Ki 1618 and Travelers. The platform, powered by algorithms and machine learning, processes all detailed risk level and portfolio data and gives the broker line back in less than 30 seconds once they’ve pressed go!

Finally, the broker receives a quote summary (also sent via email), which includes all the entered information, and the capacity offers. From there, it’s as simple as entering the desired line size the broker wants to take up, into one of the marketplace platforms and the operations team picks it up for binding.

Benefit to the broker and their clients

Algorithmic underwriting on the Ki platform means accurate, risk based, capacity offers while delivering a speed to quote like no other.