October switchover to go ahead as planned – PPL

COO cites "turning point" in London insurance market digitalisation

October switchover to go ahead as planned – PPL


By Terry Gangcuangco

Placing Platform Limited (PPL) has confirmed that the planned switchover to Next Gen will push through on Sunday, making Next Gen the only PPL platform available to place new risks from October 1.

In an emailed release, PPL said: “From this date, the option to create a new firm order will be removed. Any firm orders created on the old platform before this date can still be completed until December 15. The ability to endorse a firm order already on the old platform will not be impacted next week, as this type of endorsement can still be created and completed on or before December 15.”

Rolled out in March, the Next Gen platform features an improved user interface while supporting the placing lifecycle – from quote through to bind – and handling endorsements.

“Completing the switchover to Next Gen represents a turning point in the digitalisation of the London insurance market,” PPL chief operating officer Colin O’Malley said.

“Our partners across the market have been working for over six months on transition plans to Next Gen, and we have been seeing a large upscale in volume on the new platform in recent weeks as brokers have begun to place their Q3 (third quarter) renewals and new risks onto Next Gen. We would like to thank our partners for working with us over this period to deliver on our client commitments.

“We expect a busy month for the platform and have allocated additional resource to manage what we expect to be a high volume of support calls from new users and those navigating complex new risks for the first time.”

Used by around 400 broking and underwriting firms, PPL went live in July 2016.

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