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PPL results for May show steady adoption

PPL results for May show steady adoption

Press Release 25th June

 

 

The board of PPL Ltd released the usage figures for the platform for May 2018. Additional highlights include:

  • Daily average practitioner log-ins have doubled since January 2017.
  • Risks placed have increased from 300 a week at the end of December 2017 to around 400 at the end of May 2018.
  • Most major classes of businesses are binding over 10% of their risks on PPL, with Financial and Professional Lines at just under 60%.

Bronek Masojada, Chair of the PPL Board said: "Levels of activity on the platform inevitably ebb and flow reflecting renewal activity in the market, but the adoption trend on PPL is moving upwards. Lloyd’s, the IUA and LIIBA will all be looking to their members to report their activity on all live classes of business in Q2, and we hope that this increased transparency over usage will encourage firms to widen and deepen their activity on the platform. There are still too many firms who have not yet gone live – or even signed up, so I ask all those interested in the long-term success of London to identify what they need to do to get on board and get on with it.

“Our goal is to drive adoption from current levels to 30% of London risks by the end of 2018. And, as importantly, we want those risks to start from submission. Submissions have doubled since the beginning of the year – but from a very low base. If we don’t get it right, right from the start, we are squandering the opportunity to get accurate data at the front end of the placement process and then the critical structured data at the end. We will only be doing part of the job we need to do.”

PPL is a core component of the London Market Target Operating Model.

ENDS

For more information please contact:

Caroline Wagstaff, Luther Pendragon  |  Tel: 020 7618 9158

 

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