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Accelerating change in insurance distribution through technology

 
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<dateIssued>2020</dateIssued>
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<abstract displayLabel="Summary">If you want to see the influence that insurtechs are having on how insurance will be sold in the future, look no further than Lloyd's of London, which has been about as technologically behind as an institution can be. Brit Ltd. announced in May 2020 that, in collaboration with Google, it has created Ki, a new syndicate that will be part of Lloyd's, that will aim to significantly reduce the amount of time and effort taken for [commercial] brokers to place their [excess] capacity, creating greater efficiency, responsiveness, and competitiveness. The Ki platform, which will launch in 2021, will be cloud-based, able to be accessed by brokers directly, and involve algorithms able to evaluate Lloyd's policies. </abstract>
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