JLT Re leads the way with quote to bind on PPL
JLT Re’s Fac team was the first reinsurance team to place a risk on PPL from quote through to bind, utilising the entire work flow that PPL has to offer. The risk was electronically bound with Munich Re General Branch in October, in line with JLT Re’s plans to use the platform for quote and submission, not just firm order, making the most of the benefits available from the platform such as a full audit trail and moving away from back-loading submissions.
“We are very pleased to have been able to demonstrate the benefits of PPL in the live environment and will continue to evolve our e-trading relationships wherever we are able,” comments JLT Re.
JLT Re worked hard during the lead up to go-live in reviewing and changing its manual processes in preparation for using PPL and this has certainly paid off. As the first to bind a reinsurance risk using all the functionality of the platform JLT Re should definitely be congratulated. Well done to JLT Re and to Munich Re for taking the lead.