Placing Platform Limited (PPL) has entered into a multi-year agreement with Microsoft to enhance its specialty insurance trading platform.
Under the alliance, PPL will be integrating Microsoft’s data and AI capabilities.
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This collaboration is aimed at enhancing the way brokers and carriers trade and bind risks, transitioning PPL from a document-centric process to an intuitive trading platform and intelligent data hub.
It will see the creation of a suite of PPL productivity tools using Microsoft Teams, Microsoft 365 Copilot and Microsoft Power BI.
These tools are expected to be a catalyst in the shift towards data-driven trading, allowing brokers and carriers to be more responsive.
Enhanced collaboration is a key goal of the initiative, with a PPL market directory curated on Microsoft Teams and managed across Microsoft 365 set to improve contact and response times.
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By GlobalDataThis integration is also set to simplify the capture of trading activity, which is currently completed outside of the platform.
In addition to facilitating better communication, the collaboration promises to provide actionable insights for brokers and carriers through bespoke PPL Copilot prompts.
These prompts will enable users to compare, analyse and gain real-time insights to aid in decision making.
Moreover, an intelligent Microsoft Fabric-powered data hub will house end-to-end trading data, providing PPL clients with access to structured, secure data to support business decisions.
PPL CEO John Mason said: “In collaboration with Microsoft, PPL has the ability to create a step-change in how our clients interact with each other across the end-to-end trading cycle.
“We have engaged some of our key clients early in this process, allowing PPL to test our theories and focus on how we can empower and strengthen digital connectivity between market participants. We have been delighted with their feedback and are now focused on detailed design and delivery.”
Microsoft corporate vice-president of worldwide financial services Bill Borden said: “This latest initiative between PPL and Microsoft is rooted in our shared vision of empowering the insurance industry with innovative tools that boost efficiency and unlock new avenues for growth.”
Last month, insurance broker Howden launched the Howden Resilience Laboratory, a new platform that utilises Microsoft’s technology to assist clients in assessing and managing climate risks.
