With the go live of Accident & Health (A&H) on the 16th April, almost all classes of business are now live on the Placing Platform Limited (PPL) platform.
As Aviation and Reinsurance are the only areas of the market not yet live, a very significant proportion of the London Market’s business can now be placed electronically by brokers and underwriters.
According to the latest statistics, around 15% of all market risks are being placed through PPL – but there is strong drive to increase that to 80% of London risks over the next two years. Bronek Masojada, Chairman of PPL, commented: “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.”