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CATEX Pivot Point System Selected by RLI Re(Market Wire Via Thomson Dialog NewsEdge) PRINCETON, NJ, October 17 / MARKET WIRE/ -- The Catastrophe Risk Exchange, Inc. (CATEX) announced today that its Pivot Point web-based reinsurance transaction system has been selected by RLI Re to manage underwriting processes. The Peoria, IL-based RLI recently formed a facultative reinsurance division. The reinsurance division will initially focus on underwriting property business. "We look forward to deploying the web-based technology in our new reinsurance operation. While this system is capable of handling a wide range of underwriting, accounting and claims activities, we are customizing our usage to integrate into existing RLI systems. Pivot Point is flexible and comprehensive enough so that we can choose different points in each process where to exit data and in what format to meet the needs of existing corporate systems," remarked Kevin Brawley, RLI Re President. Frank Fortunato, CATEX CEO, said, "The combination of processes handled by the web-based Pivot Point system gives RLI Re a lead over others who are forced to gather data from multiple non-web based systems -- immediacy always is an advantage for an underwriter." The Pivot Point system is 100% web-based and allows a reinsurer to manage their entire placement, contract, claims, premium and accounting functions on line in a real time environment. The system also provides real time management information tools that permit a risk bearer to instantly review experience information and other data for specific clients or by specific location. Pivot Point is currently being used by brokers, underwriters and managing agents in 17 countries and has been deployed in four languages. The system currently processes transactions in over fifty currencies. About CATEX: www.catex.com CATEX is a leading provider of web-based trading and back-office services to the international insurance and reinsurance market. The Pivot Point platform, a completely web-based insurance and reinsurance management system, is the company's flagship service. Over 100 different syndicates, insurers, reinsurers, and brokers conduct business on Pivot Point daily. CATEX develops its systems exclusively using Microsoft technology. CATEX operates the CATEX Global Exchange, a web-based reinsurance marketplace. CATEX also operates CATEX TV (www.catextv.com) which provides daily live news for the reinsurance industry. The company has been in operation since 1994 and has offices in Princeton, NJ and London. About RLI: www.rlicorp.com RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving "niche" or underserved markets. RLI operates in all 50 states from 25 office locations. The company's talented associates have delivered underwriting profits in 26 of the last 30 years, including the last 11. RLI's insurance subsidiaries -- RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company -- are rated A+ "Superior" by A.M. Best Company and A+ "Strong" by Standard & Poor's. For additional information, contact RLI Treasurer John Robison at (309) 693-5846 or [email protected]. Reinsurance inquiries may also be directed to RLI Reinsurance President Kevin Brawley, at (203) 359-5643 or [email protected]. Add to Digg Bookmark with del.icio.us Add to Newsvine Contact: CATEX US Frank Fortunato 1-609-683-0888 CATEX UK Tom Bailey 44-207-663-5656 Copyright 2007 Market Wire, Incorporated |