PRINCETON, NJ and LONDON--(Marketwire - October 25, 2010) - The Catastrophe Risk Exchange, Inc. (CATEX) a leading web based reinsurance and insurance transaction system operator and developer, announced today that Marketform Management Services Ltd., the managing agency of Lloyd's Syndicate 2468, has licensed the Pivot Point Bordereau Management System.
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 will be 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 the underlying claims and attach them to the underlying risks. Underwriters end-up with the same level of information as if they had written and processed and handled the claims on the business themselves directly.
CATEX will be holding two open days at its London Office at 10 Fenchurch Avenue, London, EC3. The open days are on Tuesday 2nd November and Wednesday 3rd November between 12:30pm and 2pm. Anybody interested in the Bordereau Management System is cordially invited to stop by at any time between 12:30pm and 2pm on those dates.
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 product, 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 functionalities. Pivot Point is currently deployed in 20 different countries in 6 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.
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.
Contact Information:
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For more information visit us at www.catex.com or contact:
CATEX Europe
Tom Bailey
Managing Director
(44) 207-663-5656
CATEX Head Office
Frank Fortunato
CEO
609-683-0888