6 December 2016Insurance

Korean Re implements Sequel's risk exposure technology for energy division

Korean Re has chosen re/insurance software provider Sequel's risk exposure and aggregation tool to help its offshore energy team manage accumulation risk.

The deal marks Sequel’s first APAC (Asia-Pacific) client licence for Sequel Impact, which was launched in 2013.

Sequel Impact will provide Korean Re with the web-based analytical application that calculates PML (probable maximum loss).

Rob Stavrou, sales and marketing director of Sequel, said: “With Sequel Impact, Korean Re will be able to replace its outdated risk exposure tools with a powerful solution that will allow the company to quantify its risk exposure in seconds.

“In fact, with Sequel Impact, the company can visually overlay historic and hypothetical events such as storm tracks onto designated geographic areas or apply asset proximity assessment for pin-point risk analysis.

“Innovative features like these make Sequel Impact unlike any other solution available today, as it is effectively re-defining that way in which insurers identify, manage and prepare for risks on a global scale.”

Austin WS Jung, head of marine team at Korean Re, added: “Sequel Impact is a modern and visually attractive tool. Not only will it provide us with faster and more accurate access to data, but it will also create meaningful reports that enable us to understand key risks at a glance.

“The Sequel team understood our needs from the outset and delivered exactly what they promised, so we are confident that Sequel Impact will deliver significant value for our business.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
5 January 2017   The idea that some roles in the re/insurance industry could be replaced by robots or, more specifically, artificial intelligence (AI) systems, appears to have become a reality this week with the allegation that Japanese insurer Fukoku Mutual Life Insurance will replace more than 30 employees with an AI system.
Insurance
17 January 2017   London-based re/insurance software provider Sequel has appointed Tom Boucher as the chief financial officer (CFO).