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Frank Fortunato, CATEX


 


CATEX began as a risk exchange. Twenty years later, it was named Best Technology Provider 2013 at the Intelligent Insurer Awards in Monte Carlo. Has your focus changed? In hindsight, setting up an Internet-based risk         era when business cards didn’t even have email  


forced us to start working on capturing the whole of a commercial insurance or reinsurance      but as it turns out it’s not the original risk 


Who is using that system?  Once we did deploy it within the framework of        us saying they liked the software and wanted to         now have brokers, reinsurers, MGAs and binder  


If Pivot Point encompasses the entire transaction does that mean your system would replace the customer relationship management, placement, contracts, accounting, claims, ledger and MI systems at a client? That’s what it could mean, but we’ve learned that sometimes clients want only a contract,          


What new products does CATEX have?        to upload literally millions of unstructured data  We can automatically pick out errors and propose  cost savings from Data Vera make the rest of our product suite even more powerful because we  We see no reason why we should not capture


all the data involved in a transaction, even  


Opportunities and challenges ahead for Europe A


more stable economic environment     


life insurers, but an increased focus on risk management means that they continue to adjust product offerings and adapt reinsurance   The report stated that in the past year insurers


       capital positions, including the de-risking of                


                    


21.10.13 MONDAY


Necessity is the mother of invention


Frank Fortunato


“We see no reason why we should not capture all the data involved in a transaction, even down to the individual risk level.”


one place where it’s correctly organised with a 


   10 Fenchurch Avenue.


    


    months, including high unemployment and  “As no permanent solution has been


established to solve the uncertainties in         continued to stress test the balance sheets of rated entities against a renewed deterioration   “Rated insurers have demonstrated strong risk-adjusted capitalisation and have de-risked        institutions in order to prepare themselves in the   The report said that many large European


insurers are reviewing their overall reinsurance purchasing and are seeking a more centralised purchasing of reinsurance as they emphasise their


22 | BADEN-BADEN TODAY | DAY 1: Monday October 21 2013


focus on enterprise risk management (ERM) and  “The increased centralisation of


reinsurance purchasing, coupled with higher retention levels, is more pronounced for direct insurance companies concentrated in personal lines business and with a large number of          The report noted that heavy rain and      non-life European insurers, but that the central   Besides sluggish economic growth, challenges for European insurers


include increased


 Best anticipates a continuing period of uncertainty  


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