Former CATEX COO launches tech start-up

One of the co-founders of CATEX International has launched a technology start-up that will provide B2B cloud-based enterprise software services to property/casualty re/insurers.

Frank Sweeney, the former chief operating officer of CATEX International, has launched OnRisk, a business that he claims will make the placement side of the re/insurance business smoother.

“Too often, the most important part of risk transfer – the structure itself – is obscured within lengthy, complex spreadsheets or legal documents,” said Sweeney. “This is especially true for the placement side of the re/insurance business, where the rapid, pell-mell flow of information can complicate efforts to organize critical transaction data. We are hoping to change that.

“OnRisk placement solutions allow brokers and buyers to visualize complex, high-value risks, and speed their placement in the global market,” said Sweeney. “OnRisk’s transformative software utilizes ‘computer-aided risk transfer’ to recast the placement process as a graphical, intuitive and visually-appealing online experience for a broker.

OnRisk is headquartered in Princeton, New Jersey, while its tech operations are situated in California’s Silicon Valley. Sweeney added: “A Silicon Valley base will ensure that our technology platform can keep pace with the new vision we are offering to our clients.”

John Kelley, the COO of OnRisk, added: “We’re excited to be building a product that can help make risk transfer more transparent, and assist Silicon Valley in better understanding the global strategic significance of the P&C commercial re/insurance industry.”