The London Market Group’s Placing Platform Limited (PPL) went live with Accident & Health (A&H) classes of business on Monday April 16th, 2018, the PPL Board has announced.
PPL, the London market’s electronic placing platform went live in July 2016, with the Board announcing in November 2017 that property and casualty lines of re/insurance business went live on the electronic placement platform.
Now, the Board has announced A&H business as a significant addition to the suite of risk classes available to both brokers and underwriters in the marketplace.
Chairman designate of the PPL Board, Bronek Masojada, said: “Our ambition is to drive adoption from 15% to 80% of London risks. With accident & health going live, almost all classes of business are on the platform which means that underwriters and brokers are able to quote and bind risks across most of the market.
“We now need the broking and underwriting communities to get behind the adoption targets and get rid of slow, expensive paper-based processes – ensuring the future competitiveness of the London Market.”