Modernisation

Making the London Market an easier place to do business

Current Projects

Within the TOM, the key initiatives for 2017 are:

Placing Platform Limited (PPL)

PPL is the first step of the TOM – a single market electronic placing platform utilised by everyone to capture placing information electronically earlier and with greater accuracy. The development of Placing Platform supports both traditional face-to-face negotiations and purely electronic placements, or a combination of both. It will reduce costs, remove specific London requirements, provide more management information with a greater degree of accuracy and give greater transparency.

Placing Platform Limited (PPL) has been set up by the market associations (IUA, LIIBA and LMA).

For more information on PPL, please click here

-------

Central Services (CSRP)

CSRP is focussed on standardising the process for premium and claims accounting. It will allow brokers to interact with the central bureau service using the same data and process standards that have been successfully implemented outside the bureau by the Ruschlikon initiative. It is a collaborative cross-market programme involving the market associations (IUA, LIIBA and LMA), working closely with XIS as delivery partners and with the Associations Administrations Committee (AAC).

For more information on the CSRP, please click here

-------

Delegated Authorities (DA)

The aim of the DA initiative is to centralise and streamline processes to eliminate inefficiencies associated with Delegated Authority business services. This initiative will:

  • address the issues of poor integration of data between systems and limited functionality to provide a more efficient coverholder approval process;
  • reduce duplication of audits and interruptions to coverholders;
  • reduce the time spent by brokers and insurers on manual data capture and;
  • cleanse and eliminate need for manual Bordereaux – replaced with automated data sharing at a far more granular level.

For more information on the Delegated Authorities, please click here

 

Latest Content

THE LONDON MARKET GROUP IS USING SOCIAL MEDIA TO ATTRACT A-LEVEL STUDENTS

more

Government announces new ILS legislation

The government have announced the introduction of new ILS legislation for the London Insurance Market. Please click here for more

DFID announces creation of the London Centre for Global Disaster Protection

LMG response here

THE ECONOMIC SECRETARY TO HM TREASURY WRITES TO THE LMG REGARDING ILS LEGISLATION

Full Story here

LMG re-appoints Nicolas Aubert as Chair

Full story here

LMG Forum - London Matters 2017

The London Matters 2017 report will be launched 9th May register your interest here

City Week 25th and 26th May

More details and confirmed speakers here

PPL re-schedules delivery dates

March 27th, 2017 – the board of PPL Ltd has announced today that it has decided to bring phase 1 of
integration forward and push Release 2C back. Please click here for further information.

 

LMG publishes Brexit recommendations for Government

Full story

TOM – claims payments able to move faster

See full story here 

Keep in Touch

Get event updates sent to your inbox