Placing Platform Limited has announced that global re/insurance broker Aon has gone live on PPL Next Gen, the new version of the London insurance market’s electronic trading platform.
The go-live has started with over 450 colleagues within Aon UK’s Commercial Risk teams covering all lines within its Marine, Financial and Professional Services, Natural Resources and Construction teams.
Additionally, Aon also plans to onboard several hundred more professionals in the coming months across its Risk Capital capabilities within their Reinsurance Solutions’ Facultative and Commercial Risk Solutions’ Property, Casualty and Crisis Management teams.
In April, PPL Next Gen opened to placements for the entire market, after a successful four weeks of limited access while market firms completed training and preparation activities.
Helen Howard-Knight, Director of Operations in Aon’s Global Broking Center and UK Commercial Risk Broking team, said: “This is a major milestone for Aon and PPL, with a tremendous effort put in by the PPL team to support us going live on Next Gen. With the new platform being embedded in our trading processes, we can work confidently towards the next stages of the London Market transformation in the knowledge that the platform will, in time, support the necessary aspects for digitalisation and outputs from Blueprint 2.
“We are looking forward to growing usage of the platform and working in collaboration with our carrier partners in making this market transition a success.”
Joe Gordon, CEO of Placing Platform Limited, added: “We are extremely pleased to welcome Aon onto the Next Gen platform, and we hope this news will encourage other carriers and brokers who have not yet activated cutover plans to migrate over. It is in everyone’s interests to shorten the period during which teams have to use both old and Next Gen platforms, as we increasingly target a total transition this year.”
