Ki’s chief executive said that the partnership represents “another significant milestone”
Ki and Howden have forged a long-term partnership - Ki will commit capacity over three years, securing follow up capacity for Howden’s clients and business partners.
The partnership will see Ki, Brit Insurance’s digital syndicate, as well as Howden and Hyperion X, which is Hyperion’s insurtech platform, work together on developing a digital end-to-end Lloyd’s placement journey during 2021.
It marks a “Lloyd’s first” by confirming a shared vision for the digital future of Lloyd’s and the follow-only market.
Mark Allan, chief executive of Ki, said: “We are delighted to be partnering with Howden and Hyperion X. The creation of the first fully digital end-to-end Lloyd’s placement is another significant milestone and we are proud that Ki is a central part of this.
“We believe digital models have major advantages for Lloyd’s and unlock substantial opportunities for the market in the future.”
It follows Ki announcing its expansion plans in September after raising $500m (£386m).
Ki is a collaboration between Brit Insurance, University College London and Google, which was launched in May this year to reduce the time it takes for brokers to place follow capacity.
The digital syndicate will write a range of specialty business following selected leaders in the Lloyd’s market, including Brit.
Speaking about its value, Barnaby Rugge-Price, executive chair of Hyperion X and chair of Howden Broking Group, added: “Howden’s commitment to transaction efficiency allows our people to focus their expertise and time on the areas that add the greatest value for clients. Ki shares our vision for the market with all the benefits it brings for clients, brokers and capital providers.
“Hyperion X’s data, technology and automation is key to the delivery of transaction efficiency and has been a real catalyst for progress. This partnership is just the start of a significant long-term relationship between Howden and Ki - we look forward to collaborating, growing together and driving innovation across the market.”