SMART follow syndicate Ki is not planning to use artificial intelligence in its underwriting algorithms, its active underwriter has said.
Speaking to the Insurance Day podcast, Helen Rios, said the business was looking at different ways it could implement AI into its processes.
But Rios said AI would not be used to determine risk appetite to ensure “consistency” in the syndicate’s underwriting decisions.
“We don’t have any AI within the algorithm,” Rios said. “We are using AI a lot at Ki, but it’s not within the algorithm because we need the consistency.
“You don’t want it changing appetite on a day-to-day basis. You need to see on a long-term basis how that performs over time.”
Ki is using AI tools in data ingestion, including turning unstructured data into structured data and pre-populating pricing templates.
This is especially helpful for more complex lines of business such as energy where data tends to be less standardised, Rios said.
In the latest Insurance Day podcast, Rios also discussed the increasing digitalisation of the London market, the growing use of broker facilities and the impact softening market conditions are having on follow business.
Ki was launched by Lloyd’s re/insurer Brit in 2020 as the market’s first fully digital, algorithmically-driven follow syndicate.
The business started writing through its own syndicate in January 2021 and since then has partnered with several brokers and insurers, including capacity deals with Aspen, Travelers, Beazley and QBE. Tokio Marine Kiln became Ki’s fifth capacity partner in April.
Ki was spun out into a standalone company in January 2025 this year in a move it said would allow both Brit and Ki to focus on their respective lead and follow businesses.
In 2025, Ki managed premium of $1.11bn, including over $200m of partner capacity.
