British insurance giant
RSA is looking to enhance its broker proposition by starting to trade on the London insurance market’s electronic placing platform (PPL).
The idea of the platform is that it allows brokers and underwriters to negotiate and quote using one market-wide system.
“We’re delighted to welcome RSA on board as a new user of PPL,” said David Ledger, chairman of PPL. “By achieving critical mass of the market online, London will be making progress in becoming a more efficient place to do business.”
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
The platform was launched in July last year and aims to cut the duplication of work, and narrow the chances of human error. It offers a shared platform for both underwriters and brokers with terrorism the first risk to be traded via the platform. Marine is the latest line to have gone live, with trading beginning on March 06, while property and casualty is scheduled to become available for trading during the second half of the year, along with further technical enhancements and improvements to current lines.
“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,” said Hayley Robinson, managing director of global risk solutions at RSA.
Related stories:
Insurance heavyweight launches new SME product
Major insurer appoints head of commercial risk solutions
.jpg)
