Trading Complex Risks Using Ki’s Broker API

Ki, the first algorithmically-driven fully-digital Lloyd’s syndicate, has developed the first ever direct API integration between a London Market carrier and broker, allowing brokers to automatically request for a quote, across all open market specialty classes of business, within their internal broking platforms, without needing to visit the Ki platform.

Over the course of 2021, we have integrated with 3 of the Top 10 Lloyd’s of London and global brokers, Willis Towers Watson, Ed Broking and Price Forbes, with a total opportunity of $175m in gross written premium. A further two broker integrations are planned for early-2022.

What the broker integration provides is:

1. Fully automated: Automated request-for-quote, after lead terms have been documented, eliminating the need for additional manual effort in requesting for a quote

2. Speed of response: API-driven algorithmic approach enables automated quote response in c.30 seconds on average vs. up to 7 days from a traditional syndicate, allowing brokers to spend more time on value-add activities such as client servicing

3. Highly scalable: Capable of handling thousands of concurrent requests, able to integrate with broker trading systems and or centralized e-placement platforms – allowing Ki to benefit from external investment in technology

4. Efficiency gains: Driving market efficiencies by reducing manual effort in Lloyd’s