September 14, 2014 15:00 ET

CATEX Again Named Best Technology Provider by Intelligent Insurer

MONTE CARLO, MONACO and PRINCETON, NJ--(Marketwired - Sep 14, 2014) - The Catastrophe Risk Exchange, Inc. (CATEX) was again named Best Technology Provider by Intelligent Insurer magazine tonight at the annual reinsurance Rendezvous in Monte Carlo. CATEX earned the same designation in 2013.

Intelligent Insurer conducts a survey of thousands of (re)insurance industry participants and tabulates weighted responses to determine its category award winners. An earlier round of balloting had reduced the number of finalists for the Best Technology Provider award to ten companies including CATEX, Xchanging, SAS, and eReinsure, NTT Data, Ebix, Oracle, Guidewire, Sequel and Ultimate Risk Solutions.

Frank Fortunato, CATEX CEO, said from Monaco that, "We are thrilled that our peers continue to recognize our work. We are grateful to our clients for their enthusiasm which allowed us to win this award again especially given the stature of the competing companies."

The Pivot Point platform currently supports client operations in 20 countries; processes premium volumes of more than USD $4.5 billion annually; settles transactions in 75 currencies; and distributes invoices in 6 languages. The CATEX Data Vera product, used on CATEX systems, greatly improves the accuracy and speed of risk information uploads and provides real-time analytics and reporting production.

CATEX has been providing insurance and reinsurance software to clients since 1994.

About CATEX:

The Catastrophe Risk Exchange, Inc (CATEX) is a leading developer of web based insurance and reinsurance software. CATEX provides software as a service to brokers, agencies and reinsurers to manage all of their treaty, facultative and commercial insurance needs. CATEX's flagship products, Pivot Point and Data Vera, are Microsoft .NET based solutions that provides placement and contract management, fiduciary accounting and ledger control, claims management, multi-currency settlements, bordereau processing, document management, MI reporting functionalities and data conversion and analysis. CATEX has been operating since 1994 and is licensed by the New York Insurance Department as a reinsurance intermediary that acts in a neutral capacity. In 2013 and 2014 Intelligent Insurer magazine named CATEX "Technology Provider of the Year" at the annual Rendezvous in Monte Carlo.

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Contact Information

  • Contact:
    Stephanie Fucetola
    Senior Vice President
    Email: Email Contact
    In Monaco 609-306-5875
    US 609-683-0888