Reinsurance News

Ebix Europe to offer alternative trading platform for London Market

14th December 2021 - Author: Matt Sheehan

London Market technology specialist Ebix Europe has announced that it is designing and developing a new electronic trading platform that will offer an alternative to the recently announced PPL platform.

The platform, called PlacingHub, has been developed by Ebix Europe’s in-house specialists, and promises to offer users the equivalent functionality already contained within PPL as a minimum requirement.

In addition, Ebix says there will be a redesigned user interface, providing a more intuitive experience that allows insurance practitioners the flexibility to adjust to a remote/office working environment, as well as other workflow enhancements.

“As many people are aware, 90% of the risks placed in the London Market are currently conducted by a platform that is underpinned by Ebix Europe, which owns and provides the technology, support and training, in addition to storing users’ data securely,” said James Pring, Head of Sales at Ebix Europe.

“The new platform recently announced by PPL will not be underpinned by Ebix Europe and, as it is to be built from scratch, it will not possess the features and continuity that users are familiar with,” he continued.

Artemis London 2022 - ILS conference

“We believe there should be an option for the London Market to be able to continue to benefit from the investment of the last five years – but with the opportunity to build on those successes rather than begin again from an unproven alternative platform.”

Due to go to market in 2022, technological features within PlacingHub will include customisable BI/MI interfaces and an alternative route to enable brokers to create an MRC (Market Reform Contract) in the platform via the product builder or digitise an existing slip.

In addition to this, PlacingHub will be supported with APIs for both the brokers and carriers to move them towards the goal of straight-through-processing.

Print Friendly, PDF & Email

Recent Reinsurance News