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OAKLAND, Calif.—EQECAT Inc.'s catastrophe modeling platform, Risk Quantification & Engineering version 13, will be released this fall, the company said Tuesday.
Replacing WORLDCATenterprise, the updated RQE platform is the result of the Oakland, Calif.-based firm's three-year process of making changes that stressed performance, innovation and usability.
Input from clients showed a desire for transparency and manageability, said. Giving clients more transparent and manageable information about their risks is “imperative to us because the models are getting more complex,” Tom Larsen, senior vp, product architect at EQECAT, said.
Overall, more than 180 perils for 96 countries and territories are included, Mr. Larsen said. Vulnerability and hazard updates include recent scientific research and analyses of claims and exposure data from recent events.
Correlation and simulation updates also were made so clients could combine multiple portfolios more easily.
EQECAT will hold release events at various locations to introduce the new platform. Registration for the presentations will begin by mid-April.
For more information, contact Mr. Larsen at firstname.lastname@example.org.