The latest from Placing Platform Limited, who are doing that electronic risk magic every day in London town;
At a CEO Breakfast held today, Bronek Masojada, Chair of the PPL Board, confirmed that delivery of the next generation of the platform will be in 2022. Over 100 market leaders listened to an update on PPL’s performance over the last year and targets for the next 12 months.
Bronek Masojada, Chair of the PPL Board said “The market deserves a victory roll for its adoption of e-placement so far. Nearly 400 firms are active on the platform and there are 3.3 million broker to stamp connections – demonstrating how interconnected the platform is. But the market wants and deserves a platform that can help it deliver on its ambition to be digital and that is what the next generation of PPL will do. It will take the market to digital closing of contracts and digital exchange of information.
“Adoption of all new initiatives across the London Market is a step by step process and this will be no different. We have no data now, and for sure we won’t deliver everything a perfectionist would like in version 1, but we will be working with Lloyd’s and the market to deliver the Core Data Record.
“While 2021 was a successful year for growing usage of the platform, we did have to navigate some build difficulties with Next Gen which has lost us some time. But progress is being made and the teams are working hard to catch up and we are confident that we will deliver the first version in 2022. The exact dates will be agreed with the market so that it is timed with quieter months for renewals etc.”