Pricing at Ki.

The Commercial Pricing Team at Ki, though relatively new, plays a critical role in the company's success. Their function can be split into two main areas. First, they are responsible for pricing decisions for all non-Algorithmic business quotes, which includes delegated insurance written on binders and a growing reinsurance portfolio. The team builds, maintains, and oversees pricing models used by underwriters, as well as case pricing the largest and most complex deals themselves. Secondly, they provide more holistic oversight across all of Ki's pricing, ensuring there is actuarial rigour, good governance and a commercial lens is considered across all the pricing models. This is very broad, interacting with the Algorithmic Pricing team regularly, as well as wider stakeholders such as Portfolio Management, senior leadership and external regulators such as Lloyd's.

The Algorithmic Pricing Team at Ki is responsible for building, deploying, and monitoring Ki's algorithm, a key differentiator that has established the company as the first and largest algorithmic carrier at Lloyd's of London. Since Ki's inception in 2020, this team has been central to the business. They manage the algorithm's pricing, which takes policy inputs, assesses risk, and determines line sizes for quoting on open market business - essentially replicating the roles of pricing actuaries and underwriters through code. The team comprises actuaries, analysts, and data scientists, and operates in multi-disciplinary squads within an agile framework, functioning more like a technology company than a traditional insurance pricing team.