26 May 2015 Insurance

Ebix selected as PPL software supplier

IT software firm Ebix has been selected as the Placing Platform Limited (PPL) board’s preferred software supplier to develop an electronic placing platform.

In a tender process managed by Accenture, Ebix beat business technology and services provider Xchanging.

In a progress update, the International Underwriting Association, London and International Insurance Brokers' Association and Lloyd's Market Association, said that they gave their broad support for the concept.

“The tender involved a comprehensive review of the market wide requirements for electronic support for placing. The proposed service will be a key component of the modernised London market envisaged in LMG’s Target Operating Model,” said the PPL board.

It added that work is now underway to position the platform ready for a launch later in 2015.

It expects initial implementation to be in the terrorism sector followed by a structured roll out across other classes.

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