Marketform Go Live With CATEX Bordereau Management System

Princeton and London, 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 MGA’s 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.

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, CATEX Pivot Point and Data Vera, are Microsoft .NET based solutions that provide placement, contract management, fiduciary accounting, ledger control, claims management, multi-currency settlements, bordereau processing, document management, data conversion, and comprehensive MI reporting functionalities. 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.

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Stephanie Fucetola
+1 609-683-0888

CATEX Contact Europe
Tom Bailey, Chairman
+44 (0)207-816-269