https://www.insurerbrain.com/w/index.php?action=history&feed=atom&title=Definition%3AElectronic_placementDefinition:Electronic placement - Revision history2026-06-13T19:10:29ZRevision history for this page on the wikiMediaWiki 1.43.8https://www.insurerbrain.com/w/index.php?title=Definition:Electronic_placement&diff=7591&oldid=prevPlumBot: Bot: Creating new article from JSON2026-03-10T13:07:12Z<p>Bot: Creating new article from JSON</p>
<p><b>New page</b></p><div>💻 '''Electronic placement''' is the process of negotiating, quoting, and binding [[Definition:Insurance policy | insurance]] or [[Definition:Reinsurance | reinsurance]] coverage through digital platforms rather than face-to-face meetings or paper-based exchanges. Pioneered largely in the [[Definition:Lloyd's of London | Lloyd's]] market through initiatives like PPL (Placing Platform Limited) and subsequently expanded by commercial market platforms, electronic placement aims to bring transparency, speed, and an auditable record to what has historically been a relationship-driven, manual workflow.<br />
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⚙️ In a typical electronic placement workflow, a [[Definition:Insurance broker | broker]] uploads [[Definition:Submission | submission]] data, risk details, and proposed terms onto a shared platform where subscribing [[Definition:Underwriter | underwriters]] can review, annotate, and indicate their [[Definition:Line (underwriting) | line]] or decline — all within a single digital environment. The platform captures each action with a timestamp, creating a compliance-ready trail that satisfies [[Definition:Lloyd's of London | Lloyd's]] market-reform requirements and broader [[Definition:Insurance regulation | regulatory]] expectations. Integration with [[Definition:Bordereaux | bordereaux]] systems and [[Definition:Policy administration system | policy administration systems]] means that once a risk is bound electronically, downstream processing — from [[Definition:Premium | premium]] booking to [[Definition:Certificate of insurance | certificate]] issuance — can begin automatically.<br />
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🚀 Adoption of electronic placement accelerated sharply after COVID-19 demonstrated the fragility of in-person market rituals, and momentum has not reversed. For [[Definition:Managing general agent (MGA) | MGAs]] and [[Definition:Coverholder | coverholders]] operating under [[Definition:Delegated underwriting authority (DUA) | delegated authority]], electronic placement tools reduce the friction of securing capacity from multiple [[Definition:Insurance carrier | carriers]] across geographies. The broader industry benefit is structural: electronic placement generates rich, structured data on pricing trends, [[Definition:Hit ratio | hit ratios]], and cycle times — intelligence that supports better [[Definition:Portfolio management | portfolio management]] decisions and helps regulators monitor market conduct more effectively.<br />
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'''Related concepts'''<br />
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* [[Definition:Lloyd's of London]]<br />
* [[Definition:Submission]]<br />
* [[Definition:Binding authority agreement]]<br />
* [[Definition:Slip]]<br />
* [[Definition:Placing platform]]<br />
* [[Definition:Digital distribution]]<br />
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