Placing Platform said its electronic London Market platform showed strong performance and service delivery during the peak Jan. 1 renewal season.
The platform saw a “significant year of transition” that implemented a regular flow of platform enhancements. This culminated in a smooth 1/1 reinsurance renewals season with near faultless service standards provided to users.
PPL said in December, the busiest month for placing risks, it handled heightened placing activity levels with a peak of 5,500 users trading on Dec.18, set up more than 500 new stamps and 350 unique new users and answered 99.9% of service desk calls within 15 seconds, with 80% of requests resolved within one day.
During December, the busiest month for placing risks, PPL:
- Handled heightened placing activity levels with a peak of 5.5k unique users trading on 18th December,
- Set up over 500 new stamps and 350 unique new users,
- Answered 99.9% of service desk calls within 15 seconds, with 80% of requests resolved within one day.
December’s platform and service delivery performance continued progressive trends seen throughout 2024 with a 44% reduction in service desk calls, 24% reduction in service requests and 65% reduction in incidents raised since the first quarter, PPL said.
December’s platform and service delivery performance continued the progressive trends delivered throughout 2024 (Q1 2024 vs Q4 2024):
- 44% reduction in service desk calls
- 24% reduction in service requests
- 65% reduction in incidents raised
We take our responsibility to serve the market very seriously and are proud to have delivered for our clients during this peak renewal season, and throughout 2024
Colin O’Malley, chief operations officer, PPL
PPL earlier announced the launch of a simplified “Express Contracts” process it said will allow brokers to more quickly and easily bind risks through its electronic London market platform. The process has an enhanced user interface allowing a fast-track process.
Pre-launch testing found the time taken to create a single contract placement was significantly shortened. User feedback also reported the improved, simplified user interface will reduce the need for training new users or those who use the platform more periodically.
PPL said its market governance committees prioritized the Express Contracts functionality, developed in collaboration with broker users and used with structured end user research.
