Enabling the world’s first fully digital insurance broker

Challenge

Insurance underwriting has long been one of the most paper-bound, time-intensive processes in financial services, with quotes taking weeks to produce and decisions the result of lengthy negotiation rather than data-driven analysis. Ki Insurance, the fastest-growing start-up in the Lloyd's market, set out to change this entirely by becoming the first fully digital, data-driven insurance broker. The ambition was significant: to replace a process measured in weeks with one measured in seconds, without sacrificing the rigour and accuracy that underwriting demands.

Solution

We built a fully digital broker portal, accessible from anywhere at any time, that put algorithmic underwriting at the heart of Ki's business model. The portal delivers instant, data-driven risk and cost estimations using algorithms that calculate the precise relationship between risk and price in real time, eliminating the manual negotiation and paper-based processes that had defined the industry for decades. The solution gave Ki the technical foundation to define what digital trading looks like in the Lloyd's market and chart a credible path to long-term sustainability within it.

Outcomes

The results redefined what was possible in insurance underwriting. Transaction times and underwriting decisions that had previously taken months were cut to just 10 seconds, a transformation that positioned Ki as the standout digital innovator in its market. The algorithmically-driven model was a first of its kind in the Lloyd's market, earning Ki recognition as a notable Sifted tech start-up to watch and establishing the business as a benchmark for digital-first insurance.