EQECAT, a subsidiary of ABSG Consulting, has released version 14 of its catastrophe risk modeling platform, risk quantification & engineering (RQE).
The latest version of the platform includes updates to country/peril models, financial model, work flow, and integration, through which clients can manage the financial impact of natural hazards.
Enhancements to the country/peril models are North Atlantic hurricane model, exclusion capabilities for highly floodable areas in German flood model, and earthquake worker's compensation model for US.
The platform's financial model updates include year loss table day stamped results, year loss table reporting by line of business and user-defined category, and apply reinsurance treaties in the portfolio aggregator.
Technical updates and work flow integration of RQE version 14 include Apache Tomcat 7 with 64 bit Java, automated database migration, and support for database attach/detach by external database management systems.
EQECAT executive vice president and chief technical officer Mahmoud Khater said the company is building on a strong foundation for the future with the release of RQE version 14.
"Our goal is to have the RQE platform become the industry benchmark while continuing to bring greater value to our clients," Khater added.