Ascot Group completes first phase of the implementation of Sequel Impact for exposure management
The implementation of Sequel Impact, our leading aggregation tool, will bring comprehensive real-time exposure management data across multiple lines of business to Ascot’s underwriters across the Group, including its Lloyd’s and London Market underwriters, in a phased implementation.
What the implementation means for Ascot
Ascot Group Limited is a Bermuda domiciled global specialist in insurance and reinsurance and includes Ascot Underwriting Limited, a Managing Agent for Syndicate 1414 at Lloyd’s. The Group underwrites a broad range of business lines including energy, cargo and property.
Ascot had two key outcomes in mind when assessing their requirements and reviewing the options available. Firstly, they were looking to rationalise their systems estate and move from multiple aggregation systems, both inhouse-developed and from various vendors, merging them into one. Secondly, they were looking to a solution where there was ongoing investment, as well as a provider with the requisite expertise to implement and maintain the system. The decision to implement Sequel Impact will enable Ascot to capture and aggregate complex exposures across a range of business lines on just one system.
James Havard, Head of Exposure Management at Ascot, said of the implementation, “The expertise and understanding of the Sequel Impact team is enabling us to manage an ambitious project which will allow our underwriters and reinsurance professionals to readily access accurate exposure data. We will also benefit from improved efficiencies with a streamlined IT environment, reduction in vendors and different licences and the ready availability of expert knowledge.”
For Ascot, the data augmentation within Sequel Impact will occur at the point of schedule import, creation or editing, and interface with Ascot’s policy administration system and cat modelling tool.
What this means for the market
Sequel’s powerful data aggregation tool, Impact, is now used by nearly 50 insurers, syndicates and brokers across the market.
Aside from quantifying total risk exposure in seconds, Sequel Impact also allows underwriters to overlay simulated events such as hurricanes with pinpoint risk modelling, as well as portfolio wide exposure management to manage predefined underwriting capacity limits and enable greatly enhanced PML management.
Sequel Impact has also recently been integrated with Swiss Re’s CatNet APIs which will guarantee a body of precise, accessible real-time hazard data for underwriters to better assess and act on macro risk data.
To find out more about Sequel Impact, please click here.
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