The RQE FAQ provides information about RQE™ (Risk Quantification & Engineering), EQECAT's new catastrophe modeling platform. Updates will be released on a regular basis leading up to the official release of RQE version 13.
Frequently Asked Questions for RQE address:
Q. What does RQE stand for?
A. RQE is an acronym for Risk Quantification & Engineering.
Q. When was the first version of RQE released?
A. RQE version 13 was released on January 31, 2013.
Q. Was there release of WORLDCATenterprise™ in 2012? If so, are there any model changes coming with RQE that will not be included in WORLDCATenterprise?
A. There was not a release of WORLDCATenterprise in 2012. RQE fully replaces WORLDCATenterprise as EQECAT's catastrophe modeling platform.
EQECAT is harmonizing the methodology between its legacy "CHAS" (aggregate) models and its newer, flexible import format country/peril models. There are four aims for the harmonization:
Non-CHAS related country/peril model updates:
Since there will be no future releases for WORLDCATenterprise, the above referenced enhancements apply ONLY to RQE v. 13.
Q. What processes does EQECAT have in place for change management?
A. EQECAT has designed an industry leading change management process to ease the adoption of the new platform and updated country/peril models. The change management process has two aspects:
Q. What operating systems and database platforms are required to use RQE? What are the recommended software and hardware specifications?
A. EQECAT clients may access the recommended software and hardware specifications from the online Client Resource Center.
Non-clients can request RQE information online or by phone:
Q. What are the major functionality/technology features and benefits of RQE?
A. RQE will include the following features and benefits (not an all-inclusive list):
Q. What currency settings will be available for the user?
A. Users will have the same currency settings that were available in WORLDCATenterprise. The user will have the ability to select currency for input and have it displayed in the user interface. The default currency unit in the underlying results tables will be US dollars.
Q. What is the YLT? How will it change my risk management experience within RQE?
A. The Year Loss Table, or YLT, includes the simulated losses that are the basis of EQECAT's methodology to provide a robust treatment of uncertainty. Within the YLTs exist:
RQE will include a feature that allows clients to dynamically combine portfolio results together and replicate the results as if they were run entirely within RQE. Users will be able to evaluate the impacts of treaties upon this aggregation. Outputs from a portfolio aggregation can be aggregated with other analyses, within or outside RQE.
Q. Can users choose the number of simulation years for output within the YLT?
A. The standard number of simulation years for output within the YLT will be fixed at 300,000. However users may retrieve any subset of the YLT output as it is a table that can be accessed via SQL query.
Q. Is ELT functionality being added to the Accumulation Node within RQE?
A. RQE version 13 includes ELT functionality at the Accumulation level.
Q. Are there user-defined reporting capabilities within RQE?
A. Users will be able to select reports at the primary, reinsurance, and accumulation levels within the platform. Moreover, users will be able to view summary, exceedance probability, ELT, and YLT reports for the overall portfolio, by country, by region, and by sub-region in the primary node.
Within the summary report, the user will be able to view annualized losses and be able to select metrics for 4 points along the EP curve. The exceedance probability report will give the user the ability to view risk metrics for up to 50 selected or user defined return periods.
The ELT reports provide information (primarily losses by event) on stochastic and historical/hypothetical events within a country/peril model's event set.
The YLT reports will give the user access to losses created by the (new) 300,000 year simulation and inserted into our Stochastic Risk Atlas for a given area within a portfolio.
Q. What file types are importable in RQE?
A. The following data types may be imported into RQE:
Q. What user training was provided by EQECAT in advance of the RQE release?
A. Training was provided in various formats and approaches:
Request information about RQE catastrophe risk modeling software platform.
RQE FAQ
(PDF 487 KB)
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