General Insurance Article - Marsh places more than ten thousand risks in 2018


Marsh announced that it had placed more than 10,000 risks in 2018 through Placing Platform Limited (PPL), the electronic insurance placement platform used by Lloyd’s, London market insurers, and brokers. Marsh has now bound more than 15,000 risks in total on the platform.

 A core component of the London Market Group’s Target Operating Model, which aims to make it easier to transact insurance in the London market, PPL enables brokers and insurers to quote, negotiate and bind business digitally, removing paper from the process and creating a digital information flow and audit trail.

 Paul Moody, CEO, UK Specialties, Marsh commented: “We’re delighted to achieve this significant milestone on PPL. By driving adoption of electronic placement we are able to enhance service to clients by producing key documentation when the risk is bound, which can then be sent to clients on the same day. With all policy details stored digitally in one place, insurers can easily access risk information in the event of a claim, making the process more efficient for clients. Marsh fully supports PPL and is committed to accelerating adoption of the platform.”
  

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