Electronic trading of reinsurance risk has been a dream for a long time. We know. Fifteen years ago in London we learned all about EPS and WIN. In Bermuda we learned about the Bermuda Commodities Exchange. In the US we witnessed a lengthy alphabet soup procession of company acronyms all purporting to hold the solution to reinsurance risk trading.
They are all gone now. We are not. We truly have the solution to on line trading of reinsurance risk. They keys are three fold we think.
First, the technology we are using for the CATEX Global Exchange is the Pivot Point Transaction System
a 100% web based Microsoft .Net application that is hands down the best platform we have ever seen for reinsurance placement, clearing and trading. We think it likely that the Pivot Point system is the best platform you have ever seen.
Second, 14 years have elapsed since we began our CATEX Risk Exchange in 1994. The Internet was virtually unknown at the time. The business cards we gathered at meetings didn’t even have e-mail addresses on them. Things have obviously changed. It is now clear that the Internet is here to stay and has a place in business. We believe that the reinsurance industry is ready to take advantage of the benefits of the Internet: instant communication, secure sharing of data, and cost efficiencies being among them.
Finally, and most important, we have listened to everyone. We have had input from reinsurance brokers, reinsurance markets, ceding companies, managing agencies, third party providers, modeling companies, regulators, capital markets and many others as we constructed the CATEX Global Exchange. We have addressed all of their concerns. As a result, the CATEX Global Exchange is, in many ways, a collaborative effort by the industry as a whole.
The CATEX Global Exchange will forever change the way reinsurance is purchased. The CATEX Global Exchange represents the paradigm shift everyone has been waiting for.
It’s here now. You can learn more by visiting applicable sections of this website.