Holborn Implements CATEX Pivot Point Reinsurance Platform

NEW YORK, NY and PRINCETON, NJ--(Marketwired - Sep 8, 2014) -  CATEX, the leading international reinsurance platform developer and operator, today announced that Holborn Corporation, the largest U.S.-based independent reinsurance broker, has completed phase one implementation of the CATEX Pivot Point Reinsurance Transaction System, an end-to-end web-based platform.

Pursuant to a license agreement executed in August 2013, CATEX and Holborn embarked upon a comprehensive project development/management process to migrate Holborn's existing data to Pivot Point, and provide the specific system enhancements required by Holborn to meet the rigorous service expectations of its clients.

Holborn Chief Executive Officer Frank T. Harrison remarked. "At Holborn, we see technology as a crucial element in the continuous improvement in our productivity and our service offerings. Our agreement with CATEX provides us with a reliable partner and a tried and true platform to automate a significant amount of our contract and account data management, without sacrificing control of our information or the quality of our service. This is the kind of operational efficiency that frees us to focus on areas where we can provide real and differentiated value, like our proprietary risk analytics systems."

CATEX CEO Frank Fortunato noted, "Rarely have we encountered people as knowledgeable, or as concerned with service quality, as the team at Holborn. Their standards are rigorous and demanding, and we are proud that we have consistently met or exceeded their expectations. Given that level of performance, we are confident that Holborn's clients will be equally satisfied with the system-related services they receive."

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

About Holborn:

Holborn Corporation is an independent reinsurance brokerage firm, which was founded in 1920 and is headquartered in New York City. Through the adoption of an Employee Stock Ownership Plan (ESOP) during 1998, it became exclusively owned by its employees. For additional information, please visit the Holborn website at www.holborn.com.

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 Intelligent Insurer magazine named CATEX "Technology Provider of the Year" at the annual Rendezvous in Monte Carlo.

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