The London Market Target Operating Model (TOM) programme took another step forward today with the signing of the contract with EBIX for the provision of the placing platform (PPL) that will allow brokers and insurers to quote, negotiate and bind business electronically.
Kirk Maddern, Member of the PPL Board said: “The creation of a single electronic placement platform is a vital part of the London Market modernisation programme, and we are delighted that the agreement is now formalised. Ebix’s ongoing support through the process has been enormously helpful, and the team can now accelerate the launch process for our first line of business – terrorism.
“We have got tremendous market support – with 9 brokers and 44 carriers signed up for go-live and around 100 market practitioners involved in the testing of the system. There is real momentum and that is something to celebrate.”