Following the launch of Next Gen, Placing Platform Limited (PPL) announced its plans for the decommissioning of the original PPL V3 platform, and to confirm that the shutdown of the Ebix system will take place, as originally planned, by the end of 2023.
As a result, all users of PPL V3 are encouraged to accelerate their cutting to Next Gen.
Placing Platform Limited CEO, Joe Gordon said, “This is an important step for PPL and for the market. Most obviously, it removes the need for users to be trained on both platforms and for underwriters which should respond to the placements received on both platforms.
“It also removes the significant cost associated with running two complete and complex IT platforms, and it will allow us to invest the money saved in the development of Next Gen. expanding PPL for digital integrations, Blueprint 2 integration, and the data-first market.
Some of the key dates for the closure of the platform will take place in stages, as announced by the company.
In June 2023, PPL will issue a communication to market companies with detailed instructions and guidance on what needs to be done to prepare for the shutdown.
On October 1, the option to start new placements on the old platform PPL v3 will be disabled. Companies will be allowed to continue entering endorsements for risks previously placed in V3.
Then, on December 15, 2023, the option to initiate PPL v3 endorsements will be disabled and companies must continue to inquire about existing V3 business.
December 31, 2023 will be the last day when user access to PPL v3 will be removed. Afterwards, the platform will be decommissioned and all data held will be deleted.
Companies like Aon have recently announced that they are going live with the Next Gen platform.