Ebix Europe has announced the launch of a “new and improved” electronic placement solution called PlacingHub, following the announcement that the original London-based electronic placement platform PPL will end on 31 December, 2023.
According to Ebix Europe, its new platform was developed by the most experienced digital placement experts in the London market.
PlacingHub is now live and “attracting interest from leading re/insurance brokers and carriers, offering London market users a seamless transition to the platform including all their historical data.”
Placing Platform Limited recently announced its plans for the decommissioning of the original PPL V3 platform, and confirmed that the closure of the Ebix system will take place, as originally planned, at the end of 2023.
In April, Placing Platform Limited launched Next Gen, its new version of the London insurance market’s electronic trading platform, which is now open to placements for the entire market.
Meanwhile, Ebix Europe confirmed that support will continue for PPL users until the end of the year, continuing technical support that it says has helped more than 20,000 users put millions of risks, lig -on orders and endorsements to date.
Vice President of Ebix Europe, Pete Smyth, commented, “We finally have the freedom to launch our vision for the London market, and are very excited about that opportunity.
“We are very proud to have successfully pioneered the London market’s exciting journey towards electronic placement, and supported its adoption over the past seven years.
“The market has gone through many changes during this time, including the challenges of the global pandemic, which has accelerated the digitization of the placements in our market.
“Throughout all this we are dedicated to channeling more business through the London Market as effectively as possible.
“We have a proven track record of successful delivery and support, and look forward to the freedom to take a limitless approach to innovation and growth in electronic placement in the future.”
Smyth continues, “Competition is an opportunity and creates the ideal conditions for innovation, for the benefit of the Market.
“That is why we are pleased to now independently advance the digital transformation of our sector and bring our full strength and expertise to the table, offering market participants a seamless and painless transition to our platform and facilitate the data-first journey.
“I would like to thank the market for the great support we have enjoyed over the past seven years and look forward to this continuing into the future.”