PRINCETON, NJ--(Marketwired - September 08, 2016) - The Catastrophe Risk Exchange, Inc. (CATEX) announced today the completion of an agreement providing Renaissance Re, a leading global provider of reinsurance and insurance, a worldwide license to the Pivot Point Bordereau Management Application.
The Pivot Point Bordereau Application is a SaaS application that manages the full range of a delegated authority, binder or program transaction. Pivot Point is a web-based application and offers features including; the recording of coverholder or MGA information; ability to record and ensure that delegated authority parameters are adhered to; the processing, cleansing and validation of imported bordereau files utilizing "learned behavior"; validation of incoming files against coverholder and facility parameters; ability to upload written, premium and claim bordereau to be applied against correct written policy; the tracking of bordereau due dates and alert users when premiums have been missed, partially paid or remain outstanding; and manage specific rules and validations pertaining to different lines of business.
The Pivot Point platform currently supports client operations in 21 countries; processes premium volumes of more than USD $7 billion annually; settles transactions in 75 currencies; and distributes invoices in 6 languages.
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. CATEX's Data Vera application offers "mapping free" cleansing and validation of disparately formatted imported data for export to any template destination including legacy, models and regulatory reports. CATEX has been operating since 1994.
About Renaissance Re:
Renaissance Re Holdings Ltd. is a global provider of reinsurance and insurance. The Company's business consists of three reportable segments: (1) Catastrophe Reinsurance, which includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company's ventures unit; (2) Specialty Reinsurance, which includes specialty reinsurance and certain specialty joint ventures managed by the Company's ventures unit; and (3) Lloyd's, which includes reinsurance and insurance business written through Renaissance Re Syndicate 1458.