CEECAT has been specifically designed for insurers and successfully tested with reinsurers writing construction and engineering business. This extensive suite of tools has proved invaluable for portfolio and exposure management, be it from either a risk or (natural) catastrophe perspective.
We have overcome the problems associated with modelling the many nuances of construction risk, be it the non-static nature of each risk both in time and space, the constantly changing vulnerability to (insurable) loss or the long term nature and coverage of the policy.
Ultimately we have found that, due to the fundamental re-evaluation of risk in CEECAT, this approach impacts all areas of the business: from the original underwriting to risk transfer through to reinsurance; from the actuarial, cat modelling and cat management teams to senior management.
Benefits of using the CEECAT technology are:
- Enhanced understanding of account exposures and greater use of available aggregate.
- Strengthened pricing and allocation of earnings.
- Lower capital charge allocation.
- Better value from your reinsurance spend.
CEECAT is offered as a service, for example to provide result feeds for internal models, or to make use of our on-line facility, which also enables data capture in a secure multi-office platform as well as live reporting for instant decision making.