The new capabilities, fully integrated to PPL’s core platform functionality, are designed to facilitate the market’s transition from the pre-dominant document-first approach.

The solution is designed to address the challenges of traditional market practices, which create significant pain points. Brokers and carriers face complex and inefficient processes which limit agility, add cost and take them away from crucial client interactions.

The Digital Contract Capability solves these challenges by empowering brokers to create structured data templates with API connectivity to brokers’ own in-house systems, in alignment with ACORD data models and fully synchronised across the end-to-end placing process. In addition, the solution will facilitate the market’s transition to MRCv3 standards in preparation for the Lloyd’s Core Data Record.

Brokers using Artificial’s Contract Builder have already generated 15,000 contracts, over which users have benefited from a 50% improvement in contract creation time and a 75% reduction in time to transpose from MRCv2 to MRCv3.

Now fully integrated into PPL’s placing platform, data-first contracts can be created and updated by brokers easily as risks move through the trading process. This will significantly reduce re-keying and the risk of errors or omissions impacting downstream processes.

PPL will guide clients through the transition to digital contracts over two stages. Initially, clients will build templates using advanced logic, enabling brokers to rationalise their existing, often unmanageable, document-based templates. This approach significantly simplifies ongoing template maintenance. Once templates have been onboarded and tested, clients can begin to create dynamically generated contracts with live risk data.

From today, clients will be able to:

• Create a structured hierarchy of MRCv3 compliant templates

• Test templates and advanced logic variations required by any line of business

From August, users will be able to:

• Populate templates with live risk data to create submissions and contracts, and

• Streamline full contract data flow into and out of PPL using existing APIs

• Benefit from automatic updates to the contract as the risk progresses through the placing process.

Tanya Duckworth, Chief Product Officer of PPL, said:

“I am pleased that through our partnership with Artificial, PPL is introducing data-driven contract capabilities to our extensive client base. This initiative is a key step in advancing the London market's transition to data-driven trading. Our new capabilities empower clients to realise strategic operational efficiencies while increasing business agility through enhanced data insight.

“As with all our product enhancements, our focus has been on securing business adoption and realising tangible benefits. By building this integrated solution on two tried-and-tested technologies, we have significantly reduced process friction and streamlined IT overheads for our clients.”

David King, Co-Founder and Co-CEO of Artificial, said:

“The launch of our data-first, digital contract capabilities is a milestone in our partnership with PPL. By embedding structured data at the core of contract creation, we are enabling brokers to work more efficiently, reduce duplication, and unlock deeper insights. This is a significant step forward in making data-driven trading the standard for smarter placement in the London market, and we are excited to continue innovating alongside PPL to drive further transformation."

For more information, contact us.