Ki Partnership With Travelers & Aspen | News | Brit

Ki announces partnership with Travelers and Aspen to expand digital follow capacity

Ki becomes the first platform to offer digital follow capacity from multiple Lloyd’s syndicates

Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, is pleased to announce that Travelers and Aspen will offer additional follow capacity through its digital platform from 1 January 2024.

As part of this significant strategic milestone, Ki will become the first algorithmic underwriter in the market to offer additional capacity from multiple syndicates. The capacity will be available across Ki’s open market classes of business in the Property, Casualty and Specialty divisions. Ki’s brokers and clients will continue to benefit from its efficient digital platform and immediate response to quote requests, with the platform also facilitating follow capacity offers from the partners alongside the existing Ki 1618 line.

The multi-year partnerships with Travelers and Aspen, alongside Ki’s own growth plans for Syndicate 1618, will see Ki materially increase the follow capacity it is able to offer from 1 January 2024, subject to Lloyd’s approval.  

Ki has grown significantly since its launch in 2020, expanding its capacity and line size each year. The new partnership capacity being added in 2024 will further enhance its proposition as a compelling way for brokers to seamlessly complete placements in Lloyd’s.

Mark Allan, CEO of Ki, said: “We are delighted to be launching these ground-breaking partnerships to accelerate the adoption of digital follow in the Lloyd’s market. As a result, Ki will significantly expand the follow capacity available through algorithmic underwriting, marking a major step towards a fully digital follow market. We are pleased to partner with Travelers and Aspen, two leading companies in our sector, who share our vision of a more efficient follow market and we look forward to working closely with them as long-term partners.”

Matthew Wilson, CEO of Travelers Europe, said: “Innovation and digitisation are significant drivers for the continued evolution of the insurance industry. We are pleased to partner with Ki on this opportunity as their platform creates efficiencies for an important segment of the London insurance market and provides a better experience for brokers, customers and carriers.”

Mark Cloutier, Executive Chairman and Group CEO of Aspen, commented: “Lloyd’s is an important platform for Aspen, and one we have successfully grown in recent years with our syndicate now one of the top performers in the market. We have been clear in our aspiration to continue to grow our presence in Lloyd’s and our long-term partnership with Ki will form an important part of this. Mark and the team have built an outstanding platform that has already been enthusiastically adopted by the broking community, we look forward to working closely with them as partners.”