RQE Catastrophe Risk Modeling Software Platform
The RQE™ (Risk Quantification & Engineering) catastrophe risk modeling software platform enables clients to quantify and manage the potential financial impact of natural hazards.
RQE version 13 was released on January 31, 2013 and replaces WORLDCATenterprise™. RQE is the result of a multiple-year initiative that involved a significant degree of collaboration with clients, prospects, and industry experts. While there are many improvements within the new platform, we have preserved and leveraged our robust methodology and unique treatment of uncertainty, which are the hallmarks of EQECAT modeling.
RQE (Risk Quantification & Engineering) Import Template Screenshot
Key aspects of RQE catastrophe modeling software includes the following features:
Robust Treatment of Uncertainty
The EQECAT loss calculation methodology considers the effects of uncertainty throughout the entire modeling process. The simulation of 300,000 years of losses provides a credible estimate of the tail of the loss exceedance curves and allows the modeling of complex features such as correlation between risks, non-Poisson event frequency distributions, and the treatment of multi-event conditions such as annual limits, reinstatements and antecedent events.
Four Principal Report Types
RQE includes four principal report types:
YLT - Year Loss Table
300,000 years of simulated losses
With 3G Correlation™, the YLTs allow users to aggregate and disaggregate portfolios "on the fly" within the platform or outside the platform
Diverse Reporting Levels and Perspectives
RQE's reporting capabilities provide various risk perspectives.
Drill down by account, policy or site to find a portfolio's driving risks
Report reinsurance and retrocession recoveries by treaty and layer
Select the loss measures (ground up damage, gross loss, facultative recoveries, net of facultative, treaty recoveries, net of treaty)
Comprehensive Portfolio Aggregation
Standard output includes both Event Loss Table (ELT) for occurrence-based metrics and Year Loss Table (YLT) for aggregate loss metrics. With 3G Correlation, users are able 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. The aggregate YLT can then be input to a further aggregation to model different perspectives of risk. This process may be repeated as often as necessary.
Comprehensive Data Import
RQE's new, faster import workflow enables easier input and editing of exposure data.
Source format is single-file, relational-file set, or SQL Server database
Import from Excel worksheets, text files, or SQL Server database
Re-usable templates which define the field and code mappings
Comprehensive verification reports for identifying errors and warnings
Validation reports for exposure by geocode level and construction type, gross and net limits
Easy Workflow Integration
RQE output is readily accessible and easily integrates into your workflow.
The import process handles most data formats directly, whether spreadsheets, text files, or SQL databases
The data validation reports let you check for completeness and consistency
The analysis reports are configurable so you get the results you need
All the results are readily accessible in the database
The entire process can be fully automated within your business environment
RQE Catastrophe Modeling Software
Portfolio Account List
Interactive Exposure Management
Table-based view of data for versatility and ease of use when:
Extensive Global Coverage
The software includes 180 natural hazard models for 96 countries and territories spanning six continents. These models are based upon innovative applications of the latest science, engineering expertise, claims and exposure data, and advanced mathematics.
Earthquake (ground shaking, fire following, sprinkler leakage, workers' compensation)
Tropical cyclone and windstorm (wind, storm surge, wind-induced flood)
Severe convective storm
Consistent Results Across Borders with Regional Models
EQECAT has developed several regional models, which produce consistent results across national borders through a unified, region-wide approach and comprehensive stochastic event set.
Integrated Catastrophe Modeling System (ICMS)
EQECAT's Integrated Catastrophe Modeling System (ICMS) is an Application Programming Interface (API) that allows clients to seamlessly integrate catastrophe modeling into their underwriting workflows. Most of the functionality that a user can perform manually in the User Interface can be automated - creation of folders and portfolios, import of exposure data and definition of reinsurance structures, report generation and results retrieval.
Learn More About RQE
Visit the RQE FAQ for details about the release of RQE version 13, the platform's hardware and software, features and functionality, as well as training opportunities.
Current clients will want to prepare operations and workflow for the RQE release. Find details about the change management process and the three phases - Preparing, Managing, Reinforcing.
Request information about RQE catastrophe risk modeling software platform.