London market technology firm PPL has launched a new tool – Service Benchmarks – to allow carriers to see their response time for firm orders and endorsements and to then compare their own service levels against the market average.

Carriers can assess their performance across their organisation as well as looking specifically at classes of business, teams and individual team members. A group of early-adopter market firms, including Axa XL, helped to develop the product.

PPL said its data shows the overall average for firm order response time was 2.3 days in 2025, compared to the 2.0 days recorded the previous year. In 2025, top quartile carriers responded in 1.2 days.

Colin O’Malley, chief operating officer at PPL, said: “For years, service performance has been recognised as an important differentiator in the London Market, but firms have lacked a consistent and objective way of measuring themselves against their peers.

“Service Benchmarks changes that. Leveraging the scale of transactional data flowing through the PPL platform, we can provide carriers with an independent market benchmark that helps them understand how they are performing and where there may be opportunities to improve.”

Chris Read, chief operating officer UK and Lloyd’s at Axa XL, added: “We have worked closely with PPL throughout the design and delivery of this tool, and our contributions have helped to shape it to deliver the best value to the market. This data gives us the insight we need to raise the bar for good customer service across the board.”

PPL is owned by the London and International Insurance Brokers’ Association, the Lloyd's Market Association, the International Underwriting Association of London and Lloyd's of London.