PPL Next Gen, the new version of the London insurance market’s electronic trading platform, opens to placements for the entire market this week, following four weeks of limited access while market firms completed training and preparation activities.
All market businesses that have signed Market User Agreements (MUA) with PPL now have access to the platform to begin trading on their cut-over date – the date at which the business has elected to begin moving business from the original PPL v3 platform to PPL Next Gen.
Joe Gordon, CEO of PPL, said: “Since PPL Next Gen went live on 6 March, market businesses have been completing their training programmes. We’ve also been using what we call pathfinder placements to exercise the platform and iron out any teething issues. I’m pleased to say nothing significant has been reported so we’re in a good place to move to broad market adoption.
“From 3 April, PPL Next Gen is available to any market business that’s ready to use it to place business. We’ll be monitoring the platform’s status closely and offering support to any businesses that would like it.
“We’ve spent months working to get PPL Next Gen to this stage. Now we’re effectively handing it to the market so businesses can reap the benefits it offers. We’re encouraging brokers to cut over to the new platform as soon as practical and encouraging insurers to complete their MUA process. It is in everyone’s interests to shorten the period during which the market is using both systems concurrently.
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