London Market’s PPL Next Gen uptake ‘accelerating’ amid push for adoption

More than 90% of carriers are now live on the PPL ‘Next Gen’, the new placement platform for London Market business, following its first three months of full operation.

Lockton was the first to place a risk on the Next Gen platform, followed by Aon and numerous other brokers. The latest update on its adoption reveals that 40 brokers are currently using Next Gen, with several others in the transition stage, which is anticipated to be finalised by October 1.

Key statistics from June indicate a significant increase in the number of risks added per week, with a 30% rise in the first six weeks, followed by 50% in the third week and 100% in the last week of June.

Over 90% of carriers are now live on the Next Gen system. PPL has signalled a “major release” planned for August.

Steve Hearn (pictured) has been appointed as the new chair of PPL, replacing Bronek Masojada at the end of July. Hearn is a long-time industry leader in the London insurance market, having served most recently as CEO of Inver Re, the reinsurance broker under the Ardonagh Group.

Joe Gordon, CEO of Placing Platform Limited, said: “Thank you to everyone in the market who has embraced the Next Gen platform and started to bring it to life. It’s good to see the accelerating pace of take up as we progress towards the cut-off date for new submissions on the old platform on October 1.

“Firms who have not yet finalised their migration plans are encouraged to do so. As we complete transition, PPL’s attention can turn to delivering on the next phase of our evolution, which is all about digital integration with market firms, data first, and Blueprint II.”

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