The NextGen version of London Market electronic placing platform PPL (Placing Platform Limited) will be Deloitte-built.
“The choice of Deloitte offers the market the control that it wants on the development of the platform – both now, and in the future, and a partner that has been deeply involved in the build so far, offering expertise and continuity,” noted PPL board chair Bronek Masojada.
“We are very much looking forward to building on the strong work done so far on NextGen and delivering the platform that the market wants and needs.”
In a release, PPL said the board pick was a unanimous decision.
Used by around 330 broking and underwriting firms, PPL spans nearly all classes of London Market risks. The platform has been facilitating e-placing since 2016.
Lifting the lid on the Deloitte tie-up, Masojada stated: “This was an important decision for the market in its journey towards more efficient and effective electronic placement of risk.
“PPL has undertaken extensive work to look at the two main options available; to continue to build our own platform or to partner with an existing offering. The pros and cons for each choice were explored thoroughly and presented to the board.”