The London market’s electronic placing platform, PPL Ltd., announced that aviation classes of business went live on the platform on June 11.
“With only reinsurance and verticalized placements left to go, this latest release means that underwriters and brokers are able to quote and bind risks across most of the markets. This is key to our goal to drive adoption from current levels to 30 percent of London risks by the end of 2018,” said Bronek Masojada, chairman of the PPL Board.
“The data in recent weeks show an uptick in activity, with the last day of May seeing more users logged on than ever before,” he added. “We hope that the considerable activity between market practitioners across different classes of business to help them agree the processes around using the platform will build on this trend. However, there needs to be a greater focus on using the platform from the first submission so that our clients can benefit from a fully digitized market.”
PPL is an initiative of the London market’s Target Operating Model (TOM), a program that aims to modernize the market and make it easier to do business in and with the London market.
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