|[January 31, 2013]
EQECAT Releases RQE (Risk Quantification & Engineering) Catastrophe Modeling Platform
OAKLAND, Calif. --(Business Wire)--
Today EQECAT announced the release of its RQETM (Risk
Quantification & Engineering) catastrophe risk
modeling platform that enables clients to quantify and manage the
potential financial impact of natural hazards.
version 13 is the result of a multiple-year initiative that involved
a significant degree of collaboration with clients, prospects, and
industry experts and is the single largest release of its kind. While
there are many improvements within the new platform, EQECAT has
preserved and leveraged its robust methodology and unique treatment of
uncertainty, which are the hallmarks of EQECAT risk modeling.
"We are thrilled that RQE will provide significant and increased value
to the global re/insurance market," commented Bill Keogh, president of
EQECAT. "With so much that differentiates us competitively, we look
forward to satisfying the pent up demand for our analytics. Having
collaborated closely with leaders from virtually every segment and
geography in the global re/insurance business, we are confident that RQE
will disrupt the status quo of catastrophe risk modeling. All of us at
EQECAT thank our existing and new clients for their collaboration
throughout this development process and their confidence in RQE."
Highlights of RQE v. 13 include:
Comprehensive portfolio aggregation
New financial model
Improved user interface
Improved import workflow
New database schema with 4-tier hierarchy
ignificant improvements in import run times
Catastrophe model updates
Comprehensive Portfolio Aggregation
Standard output includes both Event Loss Table (ELT) for
occurrence-based metrics and Year Loss Table (YLT) for aggregate loss
metrics. 3G Correlation™ allows users to aggregate one or more YLTs to
create an aggregate YLT. Reports can be generated from the YLT for
annual losses, Exceedance Probability (EP) curves and the associated ELT.
New Financial Model
The implementation of the new 4-tier database hierarchy facilitates
enhancements that enable more complete loss modeling for excess and
surplus (E&S) lines, "step" policies, and other complex financial
Improved User Interface
The release offers users significant improvements to the import process,
exposure management and report selection to provide an enhanced user
Improved Import Workflow
RQE v. 13 includes a new import workflow to enable easier input and
editing of exposure data.
New Database Schema (News - Alert)
This release includes an improved uniform database schema with 4-tier
hierarchy at the account and portfolio level.
Significant Improvements in Import Run-time
Clients will experience faster run-times with new and improved import
Catastrophe Model Updates
RQE v. 13 includes the update of 178 country/peril models including
vulnerability, hazard, and correlation/simulation updates. Hazard and
vulnerability have been updated for a number of models to incorporate
new scientific research and detailed analyses of claims and exposure
data from recent events. Correlation and simulation updates were made to
all country/peril models to allow the ability to combine multiple
portfolios without the need to re-analyze, using 3G Correlation™.
EQECAT will host a multiple-day conference to enable clients to own
their view of risk by providing a thorough understanding of RQE v.13 and
the entire EQECAT catastrophe modeling process. The catastrophe
modeling conference is being held in Fort Lauderdale, Florida on
April 9 - 11, 2013 at the Ritz-Carlton.
Learn more about RQE catastrophe modeling, or read the press
EQECAT connects re/insurance and financial services clients with the
world's leading scientific minds to quantify and manage exposure to
catastrophic risk. Leveraging decades of experience, EQECAT's
comprehensive methodology is distinguished by a unique treatment of
uncertainty that helps clients set rational expectations about risk.
RQETM (Risk Quantification & Engineering), EQECAT's new
catastrophe risk modeling platform, will provide enhanced functionality
and user experience with a new financial model, import workflow, and
user interface. Increased analytical speed, expanded reporting, and
improved integration capabilities provide clients with increased
transparency and faster access to results for 180 natural hazard
software models for 96 countries spanning six continents.
EQECAT, a subsidiary of ABSG Consulting Inc., was founded in 1994 and is
headquartered in Oakland, California.
For more information, contact:
[ Back To IBM News 's Homepage ]