Data Vera for Binders & Pivot Point

Data Vera for Binders & Pivot Point

A SaaS Solution for Managing Large-Scale Transaction Data from MGA and TPA Partners

For the past 10 years, Data Vera has been utilized by capacity providers and brokers across the globe to analyze and process bordereaux and statements of values. Over this time, the system has evolved to support a variety of products, expanding its usage by including the premium, claims and accounting features of Pivot Point.

The Challenge

CATEX was approached by a large multi-national insurer who needed to manage large-scale transaction data coming from over fifty of their MGA and TPA business partners. The insurer had difficulties managing the intake, validation and downstream processing and analytics of this data at the level of detail desired to effectively manage the portfolio. This project resulted in a 12-month development effort to accommodate the analysis and processing of files with hundreds of thousands of rows of data. The solution is now in production for written bordereau, claims bordereau, paid bordereau, and large multi-sheet policy transaction and exposure files. The solution allows the processing team to ingest and analyze multiple files concurrently, while providing a visual ‘kanban’ workflow to simplify management of files. This implementation has enabled the insurer to shut down an expensive legacy solution. The team is currently working on onboarding partners, and enhancing the solution to enable data management for policy and claims accounts receivables and payables for business billed and collected by their MGA and TPA partners.

The Benefits

Before the improvements Now
Bordereau level only data Bordereau, transaction and exposure level data available
Manual file management Workflow driven processing
Mapping and validation rules limited and difficult to manage Configurable rules engine, learned behavior mapping
Manual steps in the reconciliation and GL processes Reconciliations built into the process, integrated to the carriers GL solution
Canned reports with limited utility Integrated to the carriers data warehousing solutions
Multiple solutions in place to manage Single SaaS solution in place, Legacy system sunset

The system is hosted at an SSAE16 facility that adheres to the highest industry standards for data protection and operational controls. Real-time data backup at a secondary facility — located thousands of miles away from the primary site — provides robust disaster recovery capabilities. This remote setup ensures the safety and integrity of the carrier’s critical data, providing peace of mind and protecting the carrier from the consequences of disruptions. Additional security is provided by CATEX’s designation as ISO/IEC 27001:2013 compliant indicating that CATEX’s internal processes, data handling, software development practices adhere to industry best practices and are regularly audited by a third-party firm.


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