PRINCETON, NJ and LONDON--(Marketwire - April 6, 2011) - CATEX, a leading web based reinsurance and insurance transaction system operator, announced today that specialist insurer Marketform has commenced active use of its Pivot Point Bordereau Management System.
Tony Gellett, Syndicate Manager at Marketform, said: "The Bordereau Management System offers us granular reporting capability for our binding authority business down to the specific location or risk level and enables us to measure an individual risk's performance. This gives us a detailed level of data on which to base underwriting decisions and which will help us in being able to meet new requirements from Lloyd's or Solvency II measures."
Frank Fortunato, CEO of CATEX, said, "The ability to build a complete underwriting picture from bordereau down to the individual risk, settlement and claim position is a unique strength of our platform. Underwriters can report at a granular or aggregate level and proactively manage their books of business."
CATEX's Pivot Point Bordereau Management System allows underwriters and MGAs to upload bordereaux files in any tabular or structured format. Once the initial mapping is established, the files are automatically formatted and the information across the entire binding authority book will be stored in a homogenous format and structure. The Bordereau Management System provides for the uploading of risk bordereaux which create the underlying risks with all provided information, premium bordereaux which attach individual settlements including APs and RPs to the underlying risks, and claims bordereaux which create and update underlying claims and attach to the risks. Underwriters end-up with the same level of information as if they had written, processed and handled the claims on the business themselves, directly.
About CATEX:
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, is a Microsoft .NET based solution that provides placement contract management, fiduciary, accounting and ledger control, claims management, multi-currency settlements, bordereau processing, document management and comprehensive MI reporting. Pivot Point is currently deployed in 20 different countries and in six languages. Over $4 billion in premiums and claims is processed annually on CATEX systems. CATEX has been operating the CATEX Global Exchange since 1994 and is licensed by the New York Insurance Department as a reinsurance intermediary that acts in a neutral capacity. CATEX also provides daily reinsurance news updates about events affecting the insurance and reinsurance industry via its CATEX TV service. For more information visit us at www.catex.com.
About Marketform:
Marketform was founded in 1989 by Holly Bellingham and is a UK and international specialist insurer underwriting a diverse range of commercial insurance. Operating in the Lloyd's market with subsidiary companies in Australia, Italy and Spain, the company is a market leader in medical malpractice insurance and many other specialty insurance policies, working with brokers and businesses in more than 35 countries.
Among many specialty covers, Marketform underwrites general liability, directors and officers, property, marine, bloodstock, personal accident and political risk insurance. Marketform's clients embrace a broad range of industries from medical and healthcare, accommodation, leisure, retail, entertainment, jewellery, sports professionals, marine, bloodstock to professional practices such as architects, lawyers and insurance brokers.
For more information visit us at www.marketform.com.
Contact Information:
CATEX Head Office
Frank Fortunato
Chief Executive Officer
0207 488 7778