SOURCE: CATEX

CATEX

February 25, 2009 09:30 ET

CATEX Announces the Release of Pivot Point 2.0

Re-Design Features .NET Upgrade and Client/Market Extranet

PRINCETON, NJ--(Marketwire - February 25, 2009) - The Catastrophe Risk Exchange, Inc. (CATEX) today announced the release of its Pivot Point 2.0 Reinsurance and Insurance Transaction System platform, which features a .NET upgrade of the entire web-based software platform and introduction of a client/market extranet functionality enabling a firm's trading partners to access their business data over the Internet. The Pivot Point 2.0 upgrade will support all of the existing web-based Pivot Point 1.0 systems (Pivot Point Broker; Pivot Point Agency; and Pivot Point Risk-Bearer), which currently serve client operations in 20 countries; process premium and claim volumes of more than USD 4 billion annually; settle financial transactions in 70 currencies; and post accounting invoices in 10 languages.

CATEX has targeted many of its Pivot Point 2.0 improvements at a range of "front-office" placement functions, including marketing and CRM; streamlined exposure data capture; pre-binder revenue projections, specialized quotation and firm order placement forms; and most importantly client/market extranet functionality for authorized external users. The flexible Microsoft .NET technology now allows each company to code its own system front-end for integration into the client services portal of its web site.

"The .NET features afforded by 2.0 are apparent as soon as a user logs in," said CATEX CEO Frank Fortunato. "Rich, graphical data displays are pushed before the user immediately," said Fortunato. "These integrated displays combine the placement components with the traditional back office and all business data information -- placement history, contract, statements, claims, vouchers, and experience reports -- are conveniently displayed in the same place, with the transaction."

Drawing extensively on feedback from its client base, CATEX has further implemented the .NET technology upgrade for each existing back-office module, including the accounting, claim, settlement and ledger functionalities. By virtue of its seamless straight-through processing and integrated data displays, the system re-design virtually eliminates the long-standing operational distinction between the front-office and back-office operations for system users. To meet the intensive reporting needs of system users, Pivot Point 2.0 will continue to link directly to the Pivot Point Mosaic reporting service, which includes a suite of data cubes spanning every major module of the Pivot Point system.

Commenting on the back-office technology upgrade, Frank Sweeney, CATEX COO, said, "By applying the simple benefits of greater automation, a firm can continue to maintain strict internal control of its back-office processing regardless of its chosen mode of operation." He added, "Pivot Point's web-based flexibility will enable each client to perform either centralized or distributed transaction processing with equal efficiency for all phases of its reinsurance business."

A company may utilize Pivot Point 2.0 .Net by direct license; accessed as a service via the Internet; or used on a transactional basis via the CATEX Global Exchange. More information about Pivot Point 2.0 .Net is available at www.catex.com.

Key Features:

    End-to-end process

    100% web-based

    Single data entry

    Cube reports

    Automated processing

    Client/counter-party access

    Microsoft .NET technology throughout

About CATEX:

CATEX is a leading developer of Internet-based software transaction products and services for the global reinsurance and corporate insurance markets. CATEX also operates the CATEX Global Exchange, an on-line reinsurance marketplace, and CATEX TV, an on-line TV station that broadcasts risk-related news over the web to a growing international audience. The company has been in operation since 1994, and has offices in Princeton, New Jersey and London. The company is licensed as a reinsurance intermediary that acts in a neutral capacity by the New York Insurance Department.

Contact Information

  • For more information, please contact:

    Princeton Office:
    Frank Fortunato
    475 Wall Street
    Princeton, NJ 08540
    Tel: +1 (609) 683 0888
    E-mail: Email Contact
    Web: www.catex.com

    London Office:
    Tom Bailey
    10 Fenchurch Street
    London, EC3M5BN
    Tel: +44 (20) 7663 5656
    E-mail: Email Contact
    Web: www.catex.com