Firm’s trading partners to access their business data over the internet
The Catastrophe Risk Exchange, a developer of internet-based software transaction products and services, has released its Pivot Point 2.0 Reinsurance and Insurance Transaction System platform.
The company said that Pivot Point 2.0, which features a .NET upgrade of the entire web-based software platform and introduction of a client/market extranet functionality enabling a firm’s trading partners to access their business data over the internet.
The Pivot Point 2.0 upgrade will support all of the existing web based Pivot Point 1.0 systems, which currently serve client operations in 20 countries; process premium and claim volumes of more than USD 4 billion annually; settle financial transactions in 70 currencies; and post accounting invoices in 10 languages.
The Catastrophe Risk Exchange (CATEX) also said that it has targeted many of its Pivot Point 2.0 improvements at a range of front-office placement functions, including marketing and CRM; data capture; pre-binder revenue projections, specialized quotation and firm order placement forms; and client/market extranet functionality for authorized external users.
A company may utilize Pivot Point 2.0 .Net by direct license; accessed as a service via the Internet; or used on a transactional basis via the CATEX Global Exchange.
Frank Sweeney, COO of CATEX, said: Pivot Point’s web-based flexibility will enable each client to perform either centralized or distributed transaction processing with equal efficiency for all phases of its reinsurance business.