Source: PPL
API Early Adoption Programme delivers first results: WTW and Tysers move to fully integrate new API connectivity.
Placing Platform Limited (PPL) has launched a broker Early Adoption Programme, signalling a step change in the way the firm engages with the London market. The Early Adoption Programme (EAP) is focused on the operationalisation of the platforms API capabilities and reflects the acceleration of market interest in APIs. PPL is today working with eight firms to collaborate on design, testing and validation stages ahead of the planned full market roll out.
WTW and Tysers have spearheaded this new approach with PPL. Over a five-month period PPL, WTW and Tysers collaborated to design and implement a pilot that tested API connectivity across and end-to-end validation process. Today, both brokers have announced they are now beginning implementing the API into their in-house technology platform and are confident that this will bring operational efficiency and enhanced risk control to their businesses.
A further six organisations (including Miller, ACORD Solutions Group, WCL – A Zywave company, and Novidea, on behalf of Gallagher and Howden) are joining the next API phase of the EAP. This phase will focus on an additional set of APIs that facilitate the creation of placements, access to preferred markets for engagements and the upload/download of the MRC and supporting documents. The overall focus will be to co-create ways for brokers to access platform functionality from within their own systems; and outcome that will drive increased efficiency, avoid re-keying, and improve the quality and protection of data.
Tanya Duckworth, Director of Markets and Partnerships for Placing Platform Limited, said: “PPL firmly believes that data-first, digital trading across the London market can only be achieved through proactive cross-market collaboration. Our Early Adoption Programme will initially focus on APIs, given the market interest and PPL’s increasing range of enriched APIs that the Next Gen technology platform enables. However, I’m excited about what might follow as we collaborate closely with like-minded organisations (brokers, carriers and vendors) in generating a new ecosystem for innovators across the market.
I would like to thank WTW and Tysers for their active participation in this first phase of the EAP. We are delighted that together we tested, amended and delivered a robust solution fit for full operational utilisation. It is something now that the whole market can benefit from.”
Dermot Sargent, Broking Platform Leader, Global Broking, WTW said: “WTW has a strategic technology focus on building API capabilities across the insurance and reinsurance Industry. We are delighted to collaborate with PPL on this exciting programme which could be transformative for our Industry.”
Dan Smith, Head of Software Engineering, Tysers said: “We are delighted to join PPLs Early Adoption Programme. We see this as an important way of working as we seek to design and secure the journey towards fully digital transactions and claims.”