Integro Insurance Brokers became the 40th broker to sign up to the London Market’s electronic placing system, Placing Platform Limited (PPL) in late May. PPL enables brokers and insurers to quote, negotiate, bind and endorse business digitally on a single market-wide system.
Improved placement process
“The implementation of PPL will undoubtedly deliver an improved placement process for our clients and our teams. The appetite for modernising London Market practices has changed drastically in recent years with PPL being just one of many initiatives aimed at improving client service. We are happy to support this initiative and to be part of the London Market’s modernisation plans,” explains Anna Byrne, Head of Operations for Entertainment & Sport at Integro.
In addition, Integro’s first trade for its Entertainment & Sports division, went through successfully on 11th July with the binding of a Contingency Risk with Mark Hynds of Inter Hannover. Other divisions within Integro are expected to follow suit shortly.
Increasing take up
Christopher Croft, CEO of Liiba comments: “We are delighted to welcome Integro onto PPL, highlighting the increasing level of take up by brokers of the platform. New brokers – both large and small, are signing up and placing risks and so increasing the spread and levels of activity on the platform. This growing interest and commitment underpins our Board’s objective to get our 50 largest members active on the platform by the start of 2019.”
Going forward, Integro is looking forward to placing more business on the platform, especially as it greatly improves the speed of producing and managing documentation, helping the firm to deliver an enhanced customer experience.