Placing Platform Limited (PPL) has launched a new initiative that focuses on bringing brokers up to speed with new API connectivity.
The LIIBA-owned tech specialist initiated its broker Early Adoption Programme (EAP), which aims to fully harness the potential of the company’s API capabilities, driven by the growing market interest in API technology.
Currently, PPL is in collaboration with eight companies, working through the phases of design, testing, and validation in preparation for a broader market launch.
WTW and Tysers have been at the forefront of this initiative, partnering with PPL over the past five months. Together, the trio developed and tested a pilot project focusing on API connectivity, ensuring a thorough end-to-end validation.
Both brokers have now embarked on integrating the API into their internal technology platforms, anticipating improvements in operational efficiency and risk management within their operations.
An additional cohort of entities, including Miller, ACORD Solutions Group, WCL - A Zywave Company, and Novidea, representing Gallagher and Howden, are set to engage in the next phase of the EAP. That stage will expand on current API offerings, enabling the creation of placements, facilitating access to preferred market engagements, and supporting the upload and download of the MRC and related documents.
The primary goal, as PPL explained, is to enable brokers to integrate platform functionalities directly into their systems, thereby enhancing efficiency, eliminating redundant data entry, and safeguarding data quality and security.
Tanya Duckworth, director of markets and partnerships at Placing Platform Limited, emphasised the importance of collaborative efforts across the market to achieve a data-driven, digital trading environment in London.
“Our Early Adoption Programme will initially focus on APIs, given the market interest and PPL’s increasing range of enriched APIs that the Next Gen technology platform enables. However, I’m excited about what might follow as we collaborate closely with like-minded organisations (brokers, carriers and vendors) in generating a new ecosystem for innovators across the market,” Duckworth said.
She extended her gratitude towards WTW and Tysers for their significant contributions to the programme’s initial phase, highlighting its success in developing a reliable solution now available for market-wide application.
Dermot Sargent, broking platform leader at Global Broking, WTW, shared his enthusiasm for the collaboration, noting the potential industry-wide impact of enhanced API capabilities.
“We are delighted to collaborate with PPL on this exciting programme which could be transformative for our Industry,” Sargent said.
Similarly, Dan Smith, head of software engineering at Tysers, expressed satisfaction with their participation in the EAP.
“We see this as an important way of working as we seek to design and secure the journey towards fully digital transactions and claims,” Smith said.
Meanwhile, PPL also recently announced a new chief executive, with London Stock Exchange stalwart John Mason taking on the role.
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