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Rob Stavrou, sales and marketing director of Sequel, said: “With Sequel Impact, Korean Re will be able to replace its outdated risk exposure tools with a powerful solution that will allow the company to quantify its risk exposure in seconds.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