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’s now has 100 carriers and 42 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?”
The Board of PPL today released the market wide data for risks placed electronically during the third quarter of 2018. Read more here
Press Release - here
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