Placing Platform Limited is pleased to provide a general update to the market on Next Gen adoption and usage, following its first three months of full operation (April, May and June 2023). During June, PPL undertook a campaign to grow usage and this has begun to see results, as users start to shift to the new platform in advance of the October 1 closure of the previous platform to new risks.
Statistics for the month of June were as follows:
- Uptake is accelerating: During the six weeks to mid-June, the number of risks added per week increased by 30%. That accelerated to 50% in the 3rd week and 100% last week of June.
- Over 90% of carriers are now live on the new Next Gen system.
- The Next Gen architecture is proving its agility for supporting continuous improvement. Monthly upgrades in April, May, June and July have delivered new functionality, with a major release planned for August.
- There are currently 40 brokers using Next Gen and we are working with all brokers to ensure a smooth transition of their risks to Next Gen by the autumn. A further update giving more details of broker transition plans will be published later in July.
Over 4,000 users have now completed their training on Next Gen. All firms are encouraged to ensure that all of their users complete the online training so that they are comfortable with the changes in functionality and workflow.
Joe Gordon, CEO of Placing Platform Limited said: “Thank you to everyone in the market who has embraced the Next Gen platform and started to bring it to life. It’s good to see the accelerating pace of takeup as we progress towards the cut-off date for new submissions on the old platform on October 1st. Firms who have not yet finalised their migration plans are encouraged to do so. As we complete transition, PPL’s attention can turn to delivering on the next phase of our evolution, which is all about digital integration with market firms, data first, and Blueprint II.”