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Sequel Blog: Sequel and Gallagher Specialty complete one of the fastest implementations of exposure management tool, Sequel Impact

Gallagher’s broking and risk management professionals now have comprehensive real-time exposure management data across multiple lines of business, delegated facilities and at carrier level with the implementation of Sequel Impact. Teams now using the technology include Property, with the tool being imminently rolled out across further business lines.

What the implementation means

Gallagher is a leading insurance and risk management business based in London and is part of Arthur J. Gallagher & Co. the US-based global insurance brokerage and risk management services company. It provides a wide range of risk management services and insurance solutions and works closely with underwriters in the London market, in key global insurance centres, and with local broking partners in 150 countries.

Having reviewed the market and chosen Sequel Impact, Gallagher set ambitious plans for the implementation in terms of delivery timescales and breadth of lines of business to be managed. A key objective for the business was the ability to manage exposure aggregation at delegated facility, individual carrier level and to produce regular reporting and analytics. The  exposure management tool  is being rolled out across 10 classes of business:

  • Property (including Terrorism) – live
  • Downstream and Power
  • Upstream Energy
  • Construction
  • Marine Hull
  • Marine Cargo
  • Marine Liability
  • Casualty (Non-Marine Liability)
  • Species
  • Cyber

The Sequel Impact team delivered the implementation successfully in less than a month.

Paul Gardiner, Exposure & Aggregation Manager for Gallagher’s Speciality Division, said of the implementation, “Client service and data is at the forefront of our business. The expertise and understanding of the Sequel Impact team enabled us to deliver this ambitious project which allows our brokers and risk professionals to readily access accurate exposure aggregation data across multiple lines of business. Sequel Impact enables us to manage exposure and aggregation on our delegated facilities, deliver this at individual carrier level and produce regular reporting and analytics which will help drive and shape our business.

What this means for the market

Sequel’s powerful data aggregation tool, Impact, is now used by in excess of 50 insurers, syndicates and brokers across the market.

Apart 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.

Flexible data augmentation within Sequel Impact occurs at the point of schedule import, creation or editing and the tool can seamlessly interface with client policy administration systems and cat modelling tools.

Sequel Impact has recently been integrated with data augmentation APIs, such as those provided by Verisk, which will guarantee a body of precise, accessible real-time hazard data for underwriters to better assess and act on macro risk data.

Date: 02.03.2020 Posted by: Rob Stavrou