LONDON and PRINCETON--Aon Re International has today announced that it has licensed the Pivot Point insurance transaction system from CATEX Inc. Pivot Point is a web-based system handling the full reinsurance process from business production and quoting through to IBA ledger.
Pivot Point's web-based design and central database enables all brokers and technicians working on an account to carry out their tasks on the system. The resulting single entry and full data trail leads to substantial cost savings and valuable management information.
Mike Kelly, Director, IT Division, Aon Limited, said, "We reviewed a number of products before selecting CATEX's Pivot Point. We were impressed with the system architecture and the options this provides for multiple offices and regional deployments."
Frank Fortunato, CEO of CATEX, said, "Working with Aon and having them license Pivot Point is a major milestone for CATEX and we look forward to a long and rewarding relationship with them."
CATEX's European Managing Director, Tom Bailey, said, "With two brokers already live and trading on Pivot Point in London, this European win establishes Pivot Point as a leading European and London Market system. We look forward to working with Aon and building on our success."
CATEX is currently customizing the Pivot Point System to meet Aon Re's specific requests. The complete system is expected to be implemented in April 2005 for initial use by Aon Re Netherlands followed by Aon Re offices in Belgium and Spain.
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