CATEX Platform Overview

Transcription

1 CATEX Platform Overview The CATEX Pivot Point System and Data Vera...continuing our 21st year of service to the risk and reinsurance industry.

2 Pivot Point for Reinsurance Brokers Pivot Point for reinsurance brokers allows intermediaries to combine a global operation on one system. The independence and authority of sub-units may be maintained, yet overall data is contained within the unified system. integration with Outlook allows brokers, clients and markets to messages and attachments directly into Pivot Point, appending correspondence automatically to a specific placement, contract, claim or statement. The unified accounting and claims function, on one database enables strict PWP controls and detailed audit records. Placement, clearing and claim management for treaty, facultative, commercial insurance and binder/program business may be managed through the system by a broker. MI can instantly reflect the loss ratio of a particular risk, market or client as payment, loss and claim history are resident on one database CATEX licensed by the New York Insurance Dept. as a reinsurance intermediary that acts in a neutral capacity. Neutrality obligations included in CATEX corporate by-laws. NY Ins. Dept. approves CATEX as an exchange for insurers to transfer portions of policies to mitigate CAT exposure; authority later extends to purchase of reinsurance. CATEX establishes London presence and begins discussion with Lloyd s to make Global Exchange available to Syndicates at Lime Street.

3 Pivot Point for (Re)Insurers Pivot Point for (Re)Insurers maintains all the detailed work flow capabilities of the overall system including term sheet issuance, contracts, accounting, claims, MI and adds a transaction balance sheet on a per risk, LOB, geographic area, or chronological metric. Incoming data to the (Re)Insurer system may be augmented by specific, client Pivot Point sites maintained under the umbrella license of the (Re)insurer to allow for client data upload, claim reporting and report retrieval. Real time aggregate exposure reporting per LOB and region is provided by CATEX Mosaic Reporting. Alert warnings may be implemented as underwriting capacity is consumed. Reporting tools are available to estimate impact of proposed new business on an overall aggregate book by exposure or by underwriting basis. Mosaic Reporting tools can reveal projected claim totals based upon selected attachment points when combined with ground-up loss totals First transaction for purchase of reinsurance coverage, which is broker placed, using the CATEX system occurs between a US insurer and Bermuda reinsurer. US broker EW Blanch invests in CATEX joining co-founder corporate investor SAIC. Distribution of CATEX Trading System is enabled by CD without need for dedicated server. CATEX licenses bespoke systems to major insurers and reinsurers in US and Europe. First completely web-based version of CATEX Trading System implemented.

4 Pivot Point Bordereau/Program Management & Reporting System Pivot Point for Managing General Agencies offers the complete suite of placement, contract, accounting, claims and MI tools to the MGA licensee. Incoming risk information may be captured on a granular, location by location, or a per risk basis. Premium and claim information may be auto-associated with all risks individually allowing a user to better analyze client production flow. The licensee can also make all or parts of Pivot Point available to its downstream business partners as a method of strengthening production channel relationships. From an upstream perspective, CATEX has found that the MI reporting capability Pivot Point provides an MGA frequently will surpass the reporting of the ultimate underwriting market. If the licensee does capture claim information it can be automatically attached to each risk providing an exact understanding of the performance of each risk. The MI Reporting capability is the CATEX Mosaic Reporting Suite which permits real time data analysis and comparison by charts, maps, graphs or spreadsheets. The system is in use currently with coverholders, binder brokers, delegated authority markets and third party program claim specialists CATEX sees 500th transaction on Global Exchange. Reveals prototype design of clearing & closing system to support Exchange to clients in London, US and Bermuda. Lead client, a US reinsurance broker, is signed for complete web-based transaction system (now called Pivot Point) including placement, back office & claims. CATEX sees brokers independently licensing the full Exchange system including clearing and claims as their own internal systems. A total of five brokers are licensed.

5 Data Vera Data Vera is a SaaS [Software-as-a-Service] tool that analyses imported or unstructured data (e.g. contained in Excel spreadsheets) and converts it into consistent, cleansed and structured data. The use cases which follow track the (re)-insurance industry, though CATEX has been contacted by potential clients from several other industries - Excel data, and its accurate and fast conversion to a database, is of interest to all. In general, poor quality and inconsistent data may be ingested by Data Vera and converted to a homogenous format adhering to business rules selected by the client. The data product is then available to internal Data Vera users, markets and clients. Data Vera product is available in raw homogenous format and multiple use data export format for modeling, rating engine, risk management tools, etc. Retail risks which have schedules or lists of assets such as property locations, vessels, fine art, etc., can be converted by Data Vera into consistent homogenous data. Facultative risks that have schedules or lists of assets such as property locations, vessels, fine art, etc., can be converted by Data Vera into consistent homogenous data CATEX implements Facultative Aggregate Tracking System for major reinsurer and licenses facultative reinsurance management system for major UK insurer. Brokerage Forecasting features added to Pivot Point for brokers. Also added are functions for auto-offsetting of receivable & payable balances for clients/markets. CATEX expands Pivot Point to encompass managing agencies and (Re)Insurers. CATEX named as Microsoft Certified Partner. CATEX- TV, Internet TV channel, launched.

6 Treaty data required for modeling can be imported and transformed into consistent, homogenous data formats quickly and accurately. For proportional treaty business, underlying bordereau can be imported and validated by utilizing the same workflow as Binder below. Delegated authority, binder or program business: Data Vera produces a consistent picture, risk by risk, location by location, premium payment by premium payment and claim by claim. The integrated nature of Data Vera (inclusive of policy, risk, premium and claim) can yield a more complete picture of a delegated book than one written directly by a market. Missing data values: Data Vera can calculate missing values not supplied with the original import. For instance, Data Vera can take cumulative claim values for e.g. paid loss and adjuster expenses and insert the month to month incremental changes. Post code verification: Data Vera's table of post codes can be used to verify and correct any mislabeled address information, and to fill in the rest of an address when only a post code is supplied. This function can apply to any country of choice. Any data that requires modeling can be passed through the system and transformed into consistent, homogenous data with consistent rules. The audit reports detail each and every change Data Vera has made to data. The homogenous data may be used for any modeling purpose and or any risk management tool requiring homogenous data with consistent rules Mosaic Reports introduced on Pivot Point offer instant data on bound risks. CATEX moves into binding authorities with intake of granular risk data of delegated business. Pivot Point is converted to Microsoft.NET and the entire Pivot Point Transaction System is converted to a more user-friendly interface with Pivot Point 2.0.NET. CATEX named to NY Insurance Department Task Force to study revival of NY Insurance Exchange. Pivot Point is deployed globally with brokers, insurers & MGA s.

7 Data duplication alerts: Data Vera may be programmed by the user to issue alerts should incoming data be duplicative of data either already processed or stored in a designated database. This clearance capability may be calibrated so that any incoming data, proposed for conversion, can be flagged for review prior to processing. Rating and exposure management: Homogenous data produced by Data Vera can automatically populate rating engines and exposure management tools. System integration and data migration - tasks required for conflation of two or more systems can be significantly eased by utilizing Data Vera. CATEX has deployed the application itself in multiple system integrations. Business partner / client services: Data Vera can be made available via client s website to their business partners through extranet/saas. Such availability would permit users to upload data-sets and draw down the formatted data for internal users. Such a feature may be of interest to the primary Data Vera licensee as a service to offer to their own clients. Data Vera is configured based on business rules selected by the client. Data Vera's "learning and recognition" capability can be based on learned behavior gained collectively by Data Vera or a client can initiate and develop its own learning capability based exclusively on its own data Pivot Point Mosaic System Reports for introduced & Programs on Pivot is Point offer Bordereau licensed instant separately data from on bound CATEX by risks. a Lloyd s CATEX moves into syndicate. binding authorities with intake of granular risk data of delegated business. CATEX obtains patent Pivot for Point is converted Data Vera released. to Pivot Point System from Microsoft.NET CATEX and the named Technology US. CATEX Bordereau entire Pivot Point Provider Transaction System is Intelligent converted Insurer of the Year by systems exceed 2.5 million policies under to a more user-friendly magazine. management. interface with Pivot Point 2.0.NET. CATEX named licenses to NY Pivot Point Insurance to several Department major international Force brokers. to study CATEX revival Task of again NY Insurance named Technology Exchange. Provider Pivot of the Point Year by is deployed Intelligent globally Insurer with brokers, magazine. insurers & MGA s.

8 CATEX provides solutions for: Brokers Risk Bearers Delegated Authority Data Conversion CATEX UK 12 Leadenhall Street Suite 60, Gallery 4 London, EC3V1LP +44(0) info@catex.com CATEX US 475 Wall Street Princeton, NJ USA info@catex.com Copyright CATEX 2014 Pivot P