JRP Underwriting, a privately-owned underwriting agency which provides services in UK and Ireland, has licensed Catastrophe Risk Exchange's (CATEX) Bordereau Management System to operate all of its delegated authority underwriting business.
The system will provide bordereau formatting; bordereau upload for underlying risk; premium and claims; and recording of all quotes and special acceptances handled directly by underwriters, according to CATEX.
All risk related components of JRP Underwriting operations will be managed simultaneously by the system. The Bordereau Management System is part of CATEX’s web-based Pivot Point platform.
Pivot Point is used by agents, carriers and brokers to manage insurance and reinsurance business. It is developed and hosted by CATEX from its offices in London, UK and Princeton, New Jersey.
The CATEX Bordereau Management System permits bordereau system users to instantly upload disparate spreadsheets, documents and PDFs populated with multiple formats of location data.
JRP operations will require full use of existing Pivot Point functionality, including its document production capability; transaction processing for complex cross-currency, offset and multi-lingual transactions; extranet access for trading partners; expansion of retail broking capabilities; and advanced reporting tools provided by the Mosaic Reporting Service previously developed by CATEX Solutions.
Frank Fortunato, co-CEO of CATEX, said: JRP will have the ability to quickly upload all sorts of bordereau locations and manage premium, claims and experience information per specific locations.