CATEX's Pivot Point 2.0 reinsurance software licensed to brokers

Brokers Chedid & Associates has licensed CATEX Solutions' Pivot Point 2.0 reinsurance software.

"We place enormous value on our new relationship with this highly-regarded broking firm," said Tom Bailey, Managing Director, Europe of CATEX Solutions.

Frank Fortunato, co-CEO of CATEX Solutions, said: "Typically an announcement such as today’s would have required Chedid to license separate systems from different vendors. But since Pivot Point 2.0 uses one central database for reinsurance broking, direct broking and all of its transactional processes, Chedid gains the advantage of a single system managing its entire operation. And unlike other systems, Pivot Point allows the client the option to not surrender control of local placement, payments and claims management to a faraway IT call center thousands of miles away. Operational management can be local, if desired, while closely overseen by group headquarters to achieve the perfect balance between efficiency and client service. Chedid grasped this fact immediately."

Founded in 1998, Chedid & Associates operates five regional offices in Cyprus, Greece, United Arab Emirates, Lebanon, Qatar and soon in Saudi Arabia.