EQECAT Launches New Version of Catastrophe Risk Modeling Platform

EQECAT has released version 14 of its catastrophe risk modeling platform, Risk Quantification & Engineering (RQE). RQE enables users to quantify and manage the potential financial impact of natural hazards, the company said, and includes updates to country/peril models, financial model, workflow and integration.

“To create RQE v.13, we brought together some of the best science, engineering and insurance talent and perspectives from virtually every segment and geography in the global re/insurance industry to gain deeper model insight,” said Mahmoud Khater, EVP and CTO. “With the release of RQE v.14, we are building on a strong foundation for the future. Our goal is to have the RQE platform become the industry benchmark while continuing to bring greater value to our clients.”

EQECAT said RQE v. 14 offers a new financial model, import workflow and user interface, increased analytical speed, expanded reporting and improved integration capabilities, to offer users increased transparency and faster access to results for 180 natural hazard models for 96 countries spanning six continents.

RQE v. 14 includes updates to these country/peril models:

- North Atlantic hurricane model (Florida Certified for 2013)

- Exclusion capabilities for highly floodable areas in German flood model

- Earthquake workers’ compensation model for United States

Financial model updates:

- Year-loss table day stamped results

- Year-loss table reporting by line of business and user-defined category

- Apply reinsurance treaties in the portfolio aggregator

Technical updates and workflow integration:

- Apache Tomcat 7 with 64 Bit Java

- Automated database migration

- Support for database attach/detach by external database management systems