Willis first broker to digitally trade complex risks at Lloyd’s with Ki
Willis Towers Watson has become the first broker to digitally trade complex commercial risks at Lloyd’s after integrating Brit's algorithmically-driven, follow-only syndicate Ki .
Ki was launched by Brit Insurance in May 2020 in collaboration with Google Cloud and its algorithm, which is able to evaluate Lloyd’s policies and automatically quote for business. It is backed by capital from Blackstone and Fairfax and began writing business on January 1.
Using market-recognised data standards and a scalable API, the integration of Ki’s algorithmic underwriting with WTW’s broking platform provides clients with faster and more efficient access to capital delivering a more competitive placement experience.
Adam Garrard, global head of corporate risk & broking said: “This is a tremendous step forward for the future of digital broking and signifies the progress we have made in our data and technology strategy as we prepare for the market of the future.
"We are delighted to be the first broker to integrate our platform with Ki, through our Global P&C Hub which allows our clients to efficiently unlock risk capital for complex risk while reaping the benefits from technological innovation.”
Mark Allan, CEO of Ki, commented: “We are delighted to have integrated with Willis Towers Watson to deliver fully automated quotes through its Broking Platform. We are passionate believers in the potential of technology to enhance the broker and client experience in our market through seamless, real-time underwriting. Our integration with WTW’s global Broking Platform is a significant milestone in our mission to make the process of placing risk simpler, faster and more efficient using our digital and data-first approach.”
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