Placing Platform Limited
Placing Platform Limited (PPL) – a new electronic platform to support a more flexible negotiation and faster placement has now been launched. A dedicated PPL team will be based at the LITA desk for the next four weeks. During this time LITA will remain open for business as usual.
PPL is a key component of the London Market modernisation programme, where face-to-face negotiation is supported and facilitated by electronic risk capture, placing, signing and closing. PPL is a part of the London Market’s future operating model, a comprehensive programme of new and existing projects designed to make the market easier to do business with. The three participant organisations of PPL are the International Underwriting Association (IUA); London and International Insurance Brokers’ Association (LIIBA); and Lloyd’s Market Association (LMA).
PPL has various features and offers many benefits that help the speed of underwriting response, broker turnaround and document production. Accuracy is also improved as documents are produced automatically without manual intervention. PPL offers flexibility and recognises that face-to-face negotiation is an essential part of the market and all contact/negotiation between brokers and underwriters will continue. The PPL system has been developed to support this process.
A fully dedicated PPL team has been at the LITA desk on the Underwriting Floor since 11 July and will remain on-site until 22 August. Please feel free to pop by and ask any questions as well as offer any feedback that you may have. Meanwhile, LITA remains open for business and you are welcome to visit the desk during market hours for an impromptu or pre-arranged face-to-face meeting with one of our trading and regulatory experts.
If you would like more information on PPL please contact:
PPL Project Team
For any international trading and regulatory enquiries, please contact LITA.
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