As with any new tech in an old [traditional] industry, the human is both the strongest and weakest link. When a 'new' platform is made available, but has in many ways been bent from a system originally designed for one party's particular needs, there will be idiosyncrasies that mean the wider audience doesn't find what they need or it is a mindset shift to use it. As a result, workarounds are developed, sometimes unwittingly.
The PPL platforms provides the ability to start at quote stage and leverage the communications with markets through the full lifetime of the placing process, but it would appear that the full extent of the platform's capability isn't being used (by many). In essence PPL is seeing a lot of post-agreed submissions, more as a final repository, to keep the stats up perhaps?
I am a firm believer that any use of a system is a start, and as features are found by users they will move slowly to adopt them and enjoy the full extent of the platform's offering. That said, they will also flag up MoSCoW (Must haves, Should Have, Could Have, Won't have) a well tried and tested agile development framework. These then have to be considered for inclusion, something this market is challenged with when there are so many interested parties; software development by committee is far form straightforward!
Perhaps a more worrying obstacle to progress is that Brokers & MGAs will already have their core back office systems, these are not going to be replaced as a concept and so need solid integration "hooks" with simple one button workflow to send and receive data. Whilst Morning Data have invested in the integration made available to date, many other vendors are not there yet and maybe have underestimated the development time involved.
However, it is imperative that more integration APIs and their support are pushed up the list of priorities, above other initiatives, so that adoption can be maximised first time and not lag months, if not years, behind. Partial integration is something but complete integration is massively better and valuable. We adopt latest technologies n other aspects of our integration to a variety of data sources and systems retro-fitting to older tech is counter productive in the Market's modernisation ambitions.
Patrick Davidson of the LMA comments:
The increase in use of electronic placement is encouraging. But it only tells part of the story. In a very large number of instances, the electronic platform is only being used at the end of the process - the firm order stage (and in some cases after lines have been committed by email or bound on paper).