On 08 September Camargue sponsored a webinar discussing KI Insurance. The webinar was opened by the IIG’s president, Tshepiso Chocho who introduced Gerhard de Bruin the CEO of Camargue. Gerhard mentioned that Camargue has had a long history with Brit Insurance dating back to 2006 and introduced the speaker, James Birch.
Here are some of the highlights from the discussion:
James presented an overview of KI saying it is a digital insurance challenger and was launched in May’20 redefining the commercial insurance market going LIVE Nov’20. KI is a follow only Lloyds of London syndicate and does not do leads business, however, offers instant underwriting capacity which can be accessed via an online platform and is available 24/7. End-to-end processing use to take 22 days to market but has been reduced to minutes with KI’s algorithm.
KI’s partners are Brit, Google, Fairfax, UCL and Lloyds and were built remotely as the market was forced to go through five years’ digital transformation within five weeks due to Covid lockdown.
KI focuses on the Broker and is all about the value proposition for Brokers:
- KI says yes 100%
- KI provides certainty
- KI was designed by Brokers for Brokers and constantly obtain feedback from partner Brokers to improve the platform – 33 software releases have been deployed on the platform since the initial release
- Small underwriting team
- Always follow leaders price and terms
Key learnings:
- Talent game – accessing the right knowledge
- Raising capital
- Simplicity is key
James proceeded to answer some questions from the chat thereafter Tshepiso thanked Camargue and closed the Insight session.
Article by Salome Van Der Mooren
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