LONDON, May 22, 2015 (GLOBE NEWSWIRE) -- The Board of Placing Platform Limited (PPL Board), on behalf of IUA, LIIBA and LMA, is continuing to develop a proposal for a utility placing service for the market.
- finalizing the contractual agreement with Ebix;
- prioritizing and implementing underwriter and broker defined enhancements and establishing a clear roadmap for further enhancements thereafter; and
- developing a comprehensive implementation and resource plan to ensure rapid adoption of the platform.
Initial implementation is likely to be in the terrorism sector followed by a structured roll out across other classes. PPL is currently in discussion with an initial group of operations experts and practitioners nominated by Board members to support this process. It will seek to involve additional groups of experts as implementation progresses to ensure that the platform is designed by the market for the market.The Board of Placing Platform Limited: David Ledger - Aon (Chair) Victoria Davison - Marsh Simon Gaffney - Willis David Hough - LIIBA Adam Rushin - Hiscox Kirk Maddern - Liberty Specialty Markets Kevin Miller - Aspen Lance Grant - ACE In addition Nick Williams-Walker (JLT) and Shirine Khoury-Haq (Lloyd's) attend Board meetings as observers. About Ebix, Inc. A leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, Ebix, Inc., (Nasdaq:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry. With 40+ offices across Brazil, Singapore, Australia, the US, UK, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company's website at www.ebix.com
CONTACT: Jacqueline Marcus, Edelman 212-277-3787 or Jacqueline.Marcus@edelman.com