SOURCE: CATEX

CATEX

November 18, 2014 10:05 ET

Mexbrit Reinsurance Broker and Forte Underwriters Implement CATEX Pivot Point Reinsurance Software

MIAMI, FL and PRINCETON, NJ--(Marketwired - Nov 18, 2014) - Mexbrit Group (MXB) / Forte Underwriters and CATEX announced today that following a six month development, implementation, training and data migration period, Mexbrit, a US based reinsurance intermediary and Forte Underwriters with a significant presence in Latin America, had gone live with the CATEX Pivot Point Reinsurance Transaction System.

The parties indicated that a license agreement had been agreed to earlier this year and that Mexbrit/Forte users in the company's Miami, Mexico City, Sao Paulo, Buenos Aires and Santiago offices have been using Pivot Point for several months to process both broker reinsurance placements, and MGA placements, contract generation, accounting statements and to manage claims.

Mexbrit has three reinsurance broker operations and Forte a managing general agency operation using the Pivot Point System. The Pivot Point System accommodates both operations that share certain common data sets and are able to upwardly provide collective reporting information to Mexbrit US.

Mexbrit CEO John C. Wigg said that, "By using Pivot Point Mexbrit/Forte is able to operate both its MGA and reinsurance brokerage operations from the same system. CATEX has customized both operations to deploy Spanish, Portuguese and English as needed throughout the respective systems to meet the needs of local users."

Frank Fortunato, CATEX CEO, observed that, "Mexbrit/Forte is an ideal candidate for our Pivot Point Systems. With operations spanning four countries and two different type business entities Pivot Point is able to place them at a competitive advantage to their peers who are using local systems that aren't integrated. We present a unified solution to Mexbrit/Forte and have developed an excellent relationship with them that will serve us both well in the future."

The Pivot Point platform currently supports client operations in 20 countries; processes premium volumes of more than USD $5.5 billion annually; settles transactions in 75 currencies; and distributes invoices in 6 languages.

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

About MXB:

MXB Group through Mexbrit Reinsurance Intermediaries & Forte Underwriters are dedicated to providing client focused intermediary and underwriting reinsurance services in Latin America and the Caribbean.

MXB's Intermediary operations origins began in 1967 in Mexico City. Forte's origins began in 2000 in marine hull business.

Today MXB Group is a leading specialty intermediary and underwriter in the region.

For more information visit Mexbrit online at https://www.mexbrit.com/english/default.htm

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 product, Pivot Point, is a Microsoft .NET based solution that provides placement and contract management, fiduciary accounting and ledger control, claims management, multi-currency settlements, bordereau processing, document management and comprehensive MI reporting functionalities. The CATEX Data Vera application provides accurate and efficient data conversion services for brokers, markets and binder business participants. 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 the company was named by Intelligent Insurer magazine as "Technology Provider of the Year" at the annual Rendezvous in Monte Carlo. In 2014 the company was named as "Technology Provider of the Year" for the second consecutive year by Intelligent Insurer at the annual Rendezvous in Monte Carlo.

For more information, visit CATEX at www.catex.com.

Contact Information