On July 4th, the London Market Group was named winner of the Technology Award for Placing Platform Ltd. Having relied heavily on paper-based processes since its birth, the London Market now has 102 carriers and 40 brokers using the Ebix- powered electronic placement platform.
A collaboration between three market associations – the International Underwriting Association, London & International Insurance Brokers’ Association and the Lloyd’s Market Association, PPL enables one-touch data collection and has been rolled out across almost all lines of business.
Comments made by the judging panel included: “There is no excuse not to use this. It works, will make everyone’s life easier and improves client service beyond recognition”, and another judge pondered: “Will this become the standard way of trading in the coming years?”
