London’s Electronic Placing Platform PPL Announces Updates, Enhancements

The London market’s electronic placing platform, PPL Ltd., announced a platform update.

PPL said the new release includes:

• An enhancement so the broker can now select multiple stamps for facilities. The underwriter response is identical to open market functionality; underwriters can select stamps and percentage split.
• A new link enables users to quickly and easily toggle between the facility and the associated declarations.
• Placements can now be made with open market and facilities both constituting a percentage of the whole. In other words, brokers can choose how much of a risk is placed with a facility and how much is placed with the open market. Within that, underwriters have options over stamps and line size.

“This release reflects the tremendous investment of time and energy that the market is making in evolving the platform to reflect what it wants and needs,” commented Bronek Masojada, chairman of the PPL board.

“These new capabilities for facilities are a perfect example of how market practitioners identify possible improvements for PPL and then the team delivers the solutions. It is part of our commitment to listening to the market and helping optimize the user experience,” he added.

“Guaranteeing the quality that the market expects and needs is of primary importance to everyone at PPL and the collaboration and participation of all the market firms, both brokers and underwriters, is vital to our ongoing success.”

PPL is a core component in the London Market Target Operating Model (TOM) modernization program, which aims to make it easier to transact insurance in the London market.

Source: PPL Ltd.

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Topics London