Lloyd’s has launched a new application programme interface to support the electronic placement of business by London market brokers and underwriters.

The new API was developed by Lloyd’s in collaboration with Placing Platform Limited, the London Insurance Market Operations & Strategic Sourcing – the not-for-profit company owned by the Lloyd’s Market Association, the International Underwriting Association and Lloyd’s, and a number of Lloyd’s brokers and underwriters.

Atrium Underwriting will be the first to adopt the new API which can be used with PPL and other proprietary platforms.

Jennifer Rigby, chief operations officer and executive sponsor of the Future at Lloyd’s programme commented: “This is an exciting new development that will enhance and simplify the flow of electronic placement data across the market, as we continue to progress the development of the next generation version of PPL”

Susan Jakobek, managing director of PPL added: “The ability to share data is one of the core components in enhancing PPL and increasing adoption across the market. This development has been a tremendous collaborative effort. The result is that, when the API is implemented by a market firm, it will be possible to drive PPL entirely from their own systems without using the platform’s user interface for submission and quote. Next we will move on to look at firm order.”

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