IRVINE, Calif., July 2, 2014—CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released a new version of its EQECAT™ natural catastrophe modeling platform which contains three new proprietary risk models that quantify and analyze the potential financial impact of catastrophic natural hazards in peak exposure regions across the globe. The expansion of natural catastrophe risk analysis includes modeling for earthquake and tsunami events in Japan, earthquake events in Singapore, as well as for European windstorms, including a first-of-its-kind North European Offshore wind farm risk model.
EQECAT, which was acquired by CoreLogic in December 2013, first introduced its natural catastrophe risk modeling platform RQE® (Risk Quantification & Engineering) in January 2013 that includes more than 180 natural hazard models for 96 countries and territories spanning six continents. Loss calculations simulate 300,000 years of losses to provide comprehensive and highly credible estimates of risk exposure to earthquakes, tropical cyclones and windstorms, severe convective storms, brushfires, winter storms and flooding.
"This release of the RQE v15.0 platform not only advances the innovative and industry-leading science that is the hallmark of EQECAT risk models, but also demonstrates the commitment CoreLogic has to delivering timely enhancements and new platform features to our clients," said Paul Little, head of EQECAT.
The additional catastrophe risk modeling delivered through the new RQE v15.0 platform includes:
"Combining more than 30 years of collected data from CoreLogic with EQECAT natural catastrophe models allows us to deliver a more comprehensive, highly credible analysis of key drivers of hazard risk at various levels of exposure around the globe, from across regional borders to individual site levels," said Dr. Mahmoud Khater, chief science officer for catastrophe modeling.
The updated EQECAT RQE v15.0 platform also offers significant enhancements to user interface, reporting options and workflow management tools. Enhancements include a more comprehensive view of exposure data with expanded filter options, event-specific hazard intensity reports for individual locations and analysis of annual exceedance probability refined by region and sub-peril to show drivers of portfolio losses, among other capabilities. For more information on the latest catastrophe models version of the software platform, visit eqecat.com/software/rqe.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled services provider. The company's combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates North America, Western Europe and Asia Pacific. For more information, please visit corelogic.com.