CATEX Announces Release of Pivot Point Mosaic [V1.0] Reporting Service

Princeton, March 25, 2008
The Catastrophe Risk Exchange (CATEX) today announced the release of the Pivot Point Mosaic [Version 1.0] Reporting Service, delivering an advanced, web-based reporting solution to its clients.

Information about the initial Mosaic product release was announced Tuesday by CATEX COO Frank Sweeney during an interview on CATEX TV ( 1530 GMT (11:30 am EDT).

The initial release includes a suite of data cubes that spans every major module of the Pivot Point reinsurance transaction system. Each data cube can be used to generate a broad range of customized reports to meet the business intelligence needs of its clients.

The Mosaic reporting product is built upon, and supports, all of the existing Pivot Point Systems, including the Pivot Point Broker System; the Pivot Point Agency System, and most recently, the Pivot Point Risk-Bearer System. This Pivot Point software platform currently serves client operations in 20 countries; processes premium volumes of more than USD 3 billion annually; and settles financial transactions in 60 currencies.

Frank Sweeney, CATEX COO, said, “Off-the-shelf reporting and business intelligence applications can be very costly to businesses. CATEX can provide a more affordable reporting solution since we can draw upon our innate knowledge of the underlying Pivot Point data structures to speed reporting deployments to our clients.”

The new product is developed entirely using Microsoft web-based technology, and it can therefore be delivered over the Internet to any end user via a web browser. Once deployed, the CATEX Mosaic service will automatically pull a new data set from the Pivot Point system database at the desired time interval (e.g., hourly, daily) set by a client. Mosaic will allow flexible report design and formatting, and once posted, a report can be stored and reused on a regular basis to ensure consistent business reporting over time. By allowing convenient downloads to Excel spreadsheets and various off-line software environments, the new service will remove the need for ad hoc data extracts or transfers to the internal systems of CATEX clients.

Kunal Patel, CATEX Chief Technology Officer, said, “Our goal is to address multiple challenges facing our clients’ IT departments – enterprise-wide business intelligence; ad hoc reporting; access to data; and third-party integration. Our product should enable IT managers to deliver these solutions in a secure, cost-effective way with reduced time-to-market.”

Product deployment options include either a “fully-managed deployment option” where CATEX personnel manage the data cubes, and also prepare and post the requested reports for the client’s review, or a “partially-managed deployment option” where CATEX will train client business or IT specialists to build and deploy the desired reports.

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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