Lloyd’s of London’s PPL Next Gen moves to broad market adoption

PPL ‘Next Gen’, the new version of the London insurance market’s electronic trading platform, has opened to placements for the entire market following four weeks of limited access after its roll-out.

The Lloyd’s Next Gen platform went live on March 06 after multiple delays to its roll-out – marking a major milestone for the London market in its digitalisation journey. It was initially expected to be available in September 2022.

All market businesses that have signed Market User Agreements (MUA) with PPL will now have access to the platform to begin trading on their cut-over date – the date at which the business has elected to begin moving business from the original PPL v3 platform to PPL Next Gen.

Joe Gordon, CEO of PPL, said: “Since PPL Next Gen went live on 6 March, market businesses have been completing their training programmes. We’ve also been using what we call pathfinder placements to exercise the platform and iron out any teething issues. I’m pleased to say nothing significant has been reported so we’re in a good place to move to broad market adoption.

“From 3 April, PPL Next Gen is available to any market business that’s ready to use it to place business. We’ll be monitoring the platform’s status closely and offering support to any businesses that would like it.

“We’ve spent months working to get PPL Next Gen to this stage. Now we’re effectively handing it to the market so businesses can reap the benefits it offers. We’re encouraging brokers to cut over to the new platform as soon as practical and encouraging insurers to complete their MUA process. It is in everyone’s interests to shorten the period during which the market is using both systems concurrently.

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