Fireside chat with Mark Allan, CEO of Ki Insurance

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Lessons learnt: Launching a successful digital venture in the London insurance market

Join Oliver Wyman’s Daniel Cole, partner in the Insurance & Asset Management practice, for a virtual fireside chat with Mark Allan, CEO of Ki Insurance, the first fully digital and algorithmically driven Lloyd’s of London syndicate.

In 2020, global specialty insurer and reinsurer Brit Insurance (Brit) was looking to launch a business that could capitalise on the opportunities that data and digitisation presented in the commercial insurance market. Mark Allan, serving as Brit Group CFO at the time, led the development of Ki alongside Brit Group CEO Matthew Wilson. Since Ki’s digital platform launched in January 2021, the venture has revolutionised the broker and client experience and transformed the commercial insurance market as the first digital “follow-only” syndicate. Brokers can access Ki anywhere and at any time. The platform automatically evaluates Lloyd’s policies and provides a quote — creating efficiencies in the amount of time to place their follow capacity.

The team assembled partnerships with Google Cloud and University College London (UCL) to incorporate sophisticated API technology, an algorithmic approach to underwriting, and a seamless follow capacity to broker partners. Our fireside chat, on February 22, will feature Mark speaking on how Ki embraced data and innovation to create a true-step change for the London insurance market, and the challenges and lessons learnt — from the initial start-up vision and cultivating partnerships to scaling a transformative business model. Along with insight on what’s next for Ki’s evolution.