Placing Platform Limited (PPL) has entered a multi-year agreement with Microsoft to accelerate its transition from a transaction platform to a data-driven trading hub.
This collaboration will see the integration of Microsoft’s data and AI capabilities and productivity tools into the flow of work on PPL’s specialty insurance trading platform.
It aims to enhance how brokers and carriers utilise and engage with the platform during the trading and risk binding processes.
This move will speed PPL’s transition from a document-centric, administrative placement process to an intuitive trading platform and an intelligent data hub, the firm stated.
PPL explained: “The creation of a family of PPL productivity tools using Microsoft Teams, Microsoft 365 Copilot, and Microsoft Power BI will be a powerful accelerator of data-driven trading. This will enable brokers and carriers to be more responsive, creating time and space for the high-touch, high-value relationships that the London market is known for.”
The collaboration is set to deliver enhanced collaboration in the market, powerful and actionable broker and carrier insight, as well as an end-to-end trading data housed in an intelligent Microsoft Fabric-powered data hub.
John Mason, CEO of PPL, said “I am hugely excited about the opportunities that this relationship brings for the London market. This is a transformational deal, and one that relies not on costly untested development processes, but the use of existing well-tested tools that almost everyone already knows how to use.
“In collaboration with Microsoft, PPL has the ability to create a step-change in how our clients interact with each other across the end-to-end trading cycle. We have engaged some of our key clients early in this process, allowing PPL to test our theories and focus on how we can empower and strengthen digital connectivity between market participants. We’ve been delighted with their feedback and are now focused on detailed design and delivery.”
He added: ““Rest assured though; this does not mean we will take our eye off the ball with respect to our core mission of delivering a high functioning front-to-back placing platform. We will continue to focus and prioritise the core engine and clients can expect to also see further enhancements to the platform throughout the next 12 months.”
Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft, commented: “This latest initiative between PPL and Microsoft is rooted in our shared vision of empowering the insurance industry with innovative tools that boost efficiency and unlock new avenues for growth.
“Through a simplified collaboration platform and dynamic, data-driven trading environment, we aim to streamline processes and provide real-time insights that enhance decision-making across the market.”
John Neal, Lloyd’s CEO, added: “Transitioning to a data first digital trading environment will help drive London Market growth and innovation. This partnership has the potential to accelerate and capture this opportunity.”
