The word from PPL for you;
PPL today announced the successful opening of a new data exchange gateway between AXA XL and the London Market’s most widely used electronic placing platform, Placing Platform Limited (PPL), via ACORD Solutions Group’s cutting-edge ADEPT Placing data exchange gateway.
The connection enables AXA XL to receive structured data, final Market Reform Contracts (MRCs) and supporting documents directly from PPL’s Placing Platform at various milestones during the placing stage.
This will lead to a substantial reduction in rekeying, reducing the potential for errors. As a result, post-bind activities – can present complete and accurate data eliminating unnecessary frictional queries.
“AXA XL is leading in digital transformation by harnessing ADEPT Placing to access the London Market through real-time, structured data flows,” said Chris Newman, CEO of ASG. “This strategic approach cuts down on inefficient processes and ensures consistent data formatting aligned with ACORD Standards across the placement lifecycle.”
Christopher Read, Chief Operating Officer, UK & Lloyd’s/at AXA XL commented: “We’re always looking at ways to enhance and improve the ways brokers can interact and trade with us. This integration represents a significant milestone in our digital transformation journey and another step towards the majority of our portfolio being able to operate on a fully digital basis.
“The journey doesn’t end here, we continue to engage with clients, brokers and partners understanding where we can innovate, invest and improve the way we do business. These improvements are crucial factors to helping us deliver better outcomes for our clients.”
Tanya Duckworth, Chief Product Officer at PPL said: “This has been a hugely collaborative process, and we are delighted to have delivered strategic capability that enables AXA XL to continue to lead the charge in digital transformation. Our API suite allows for Carriers to access PPL from within their own systems to drive efficiency, enable process consistency and ultimately respond quicker. Our Broker API suite is equally advanced, and we look forward to partnering with brokers and carriers to deliver on the promise of straight through processing.”
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