Ebix Europe has announced the launch of a “new and improved” electronic placing solution named PlacingHub, following the announcement that the original London market electronic placement platform PPL will end on the 31st of December, 2023.
According to Ebix Europe, its new platform is developed by the London market’s most experienced digital placement experts.
PlacingHub is now live and is “attracting interest from leading re/insurance brokers and carriers, offering London market users a seamless transition to the platform including all their historic data.”
Placing Platform Limited recently announced its plans for the decommissioning of the original PPL V3 platform, and confirmed that the shutdown of the Ebix system will occur, as originally planned, at the end of 2023.
In April, Placing Platform Limited launched Next Gen, its new version of the London insurance market’s electronic trading platform, which has now been opened to placements for the entire market.
Meanwhile, Ebix Europe affirmed that support will continue for PPL users until the end of the year, maintaining the technical support that it says has helped over 20,000 users place millions of risks, firm orders and endorsements to date.
Ebix Europe Vice President, Pete Smyth, commented, “We finally have the freedom to launch our vision for the London market, and are very excited about that opportunity.
“We are extremely proud to have successfully pioneered the London market’s exciting journey into electronic placement, and supported its adoption over the last seven years.
“The market has undergone significant changes during this time, including the challenges of the global pandemic, which rapidly accelerated the digitisation of placements in our market.
“Throughout it all we have been dedicated to channelling more business through the London Market as efficiently as possible.
“We have a proven track record of successful delivery and support, and are looking forward to the freedom to take an unbounded approach to the innovation and growth of electronic placement in the future.”
Smyth continued, “Competition is an opportunity and creates the ideal conditions for innovation, to the benefit of the Market.
“That is why we are delighted to be now independently enhancing the digital transformation of our sector and bringing our full strength and expertise to the table, offering market participants a seamless and painless transition onto our platform and accelerate the journey to data-first.
“I’d like to thank the market for the tremendous support we have enjoyed over the last seven years and look forward to that continuing long into the future.”
