Oakland, Calif.-based EQECAT will release version 13 of its catastrophe modeling platform this autumn. The new release, however, will be under a new name: The company is phasing out the WORLDCATenterprise branding in favor if calling the software RQE (Risk Quantification & Engineering) going forward.
The company focused heavily on user experience in developing the new platform, Paul Little, SVP of global client development and consulting services, said at a release event in New York. EQECAT contracted with two consultancies, Thoughtworks and Coopers, to streamline its user interface.
"A lot of the changes they made had to do with interviews they conducted with our clients," Little added.
In the past, updates to WORLDCATenterprise had mostly focused on the science and engineering aspects of the product, Little said. "But we wanted to eliminate the barriers in using our model," he continued. "We said, 'What is the thing that frustrates people them most?' It turns out it's getting information out of the model.
But that doesn't mean the new software isn't more powerful in other ways, he notes. RQE promises increased computational power, moving from Sybase to SQL infrastructure.
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio