The Board of Placing Platform Limited (PPL) has announced that the next phase of the London Market’s electronic placement platform is set to go live on February 20, 2023.
It was reported earlier this year, that the release of the platform had been delayed to early next year.
In December of last year, Bronek Masojada, Chair of the PPL Board, said that the delivery of the next generation of the platform would be in 2022. But this had slipped, by May 2022, to September.
Sue Jakobek, CEO of PPL said: “The announcement of the go-live date for Next Gen is the culmination of a strong year for PPL. In 2022 we bound approximately 200,000 risks – three times the number done before the pandemic, and 400 firms across 34 countries used the platform. Working with our subject matter experts in the market means that users will have a cleaner, smarter journey through the placement lifecycle, removing pain points and enhancing the user experience. We look forward to working with everyone on their go-live plans.”
Masojada, commented: “On behalf of the market I would like to thank Sue for what she has delivered in the last six years. When she arrived, we were barely making progress on e-placement. Under her leadership PPL has become the market utility for electronic placement and, without it, the London market would not have been able to trade through the pandemic.
“The launch of Next Gen is just the start. PPL will deliver further market releases, the first in Q2 2023 to bring further enhancements to the platform. We are also working closely with Lloyd’s to define a roadmap for alignment with Blueprint 2 – this will include how we populate the gateway with available CDR data and align data structures and standards with ACORD/MRC v 3 so brokers and carriers only have to invest in system changes once to prepare data.”
