Placing Platform Limited has announced that it will begin to pilot its new generation of Market APIs in the fourth quarter of 2023, working initially with WTW and Tysers. The pilot is designed to exercise and validate the end-to-end integrated process and will be followed by releases to its early adopter brokers and carriers from early 2024, prior to open market release.

Tanya Duckworth, Director of Channels & Partners for Placing Platform Limited, said: “The key benefit of Next Gen for the market is that the modern architecture allows us to embrace APIs and support the market in its move to modernisation. Simply put, this will allow data to be exchanged digitally between brokers and carriers, and then to flow automatically into the new Blueprint 2 Digital Gateway as CDR records. This represents the next major step forward for digital placement in the London Market and paves the way to digital contracting in Next Gen.”

Dermot Sargent, Broking Platform Leader, Global Broking, WTW said: “WTW has a strategic IT focus on building API capabilities across the insurance and reinsurance Industry and we are delighted to work with PPL on this exciting programme which could be transformative for our Industry.”

Steve Jolley, Chief Information Officer, Tysers said: “We are delighted to partner with PPL on the API pilot.  We see this as an important step forward for the market in its journey towards fully digital transactions and claims.”