RSA starts trading on London Market placing platform PPL
UK-based general insurer RSA has started trading on the London insurance market’s electronic placing platform PPL that enables brokers and underwriters to quote, negotiate, bind and endorse business using one market-wide system.
RSA's Profin underwriting team has begun trading professional indemnity and financial risks with brokers using PPL, and marine underwriters will start trading during the second quarter, the company said.
The electronic platform was rolled out in July 2016 as part of the market modernisation programme London Market Target Operating Model (TOM), led by the London Market Group.
Hayley Robinson, managing director of global risk solutions at RSA, said: "RSA is excited to be joining PPL and to be embracing the digital innovation that will help us deliver more effectively for our customers and brokers."
David Ledger, chairman of PPL, added: "We’re delighted to welcome RSA on board as a new user of PPL. By achieving critical mass of the market online, London will be making progress in becoming a more efficient place to do business."
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