Placing Platform Limited (PPL) has announced its usage statistics for 2021, and the figures are said to be a reinforcement of PPL’s London Market standing.
During the year, the number of PPL users grew 18% to nearly 20,000, while the number of risks bound saw a 17% lift from 160,346 to 187,374 in 2021. In 2017, the sum stood at 13,067; 2018’s was 37,537; and 2019 recorded a total of 102,247.
Meanwhile, the number of market entities using PPL went up from 339 in 2020 to 389 in the latest yearly count. Agreed endorsements also jumped, by 25%, while the number of firm orders bound rose to 631,847.
“With the pandemic encouraging further adoption in 2020, we are delighted that in 2021 PPL went from strength to strength and reinforced its position as the primary platform for electronic placement in the London market,” commented PPL chief executive Sue Jakobek.
“In 2022 we are looking forward to the landmark delivery of NextGen, and we are working very hard to prepare the market for the switch over later this year. The new platform provides a significant improvement in the PPL user experience, as well as allowing us to start providing elements of the Core Data Record.”
PPL – which allows London Market brokers and insurers to quote, negotiate, and bind business electronically – was first used in July 2016.
