Placing Platform Limited (PPL) has tapped WTW and Tysers for the pilot of its new generation of market APIs (application programming interfaces).
“We are delighted to partner with PPL on the API pilot,” Tysers chief information officer Steve Jolley said in an emailed release. “We see this as an important step forward for the market in its journey towards fully digital transactions and claims.”
Taking place this quarter, the pilot is designed to exercise and validate the end-to-end integrated process. From early next year, before the open market release, there will be releases to early adopter brokers and insurers.
Commenting on the pilot, WTW’s broking platform leader for global broking Dermot Sargent said: “WTW has a strategic IT focus on building API capabilities across the insurance and reinsurance industry, and we are delighted to work with PPL on this exciting programme which could be transformative for our Industry.”
Meanwhile, PPL channels & partners director Tanya Duckworth noted that the key benefit of Next Gen is that the modern architecture allows the not-for-profit company to embrace APIs and support the market in its move to modernization.
She said: “Simply put, this will allow data to be exchanged digitally between brokers and carriers, and then to flow automatically into the new Blueprint 2 Digital Gateway as CDR records. This represents the next major step forward for digital placement in the London Market and paves the way to digital contracting in Next Gen.”
