QIC Global, the umbrella organisation for Qatar Insurance Company’s (QIC) international trading brands, has selected Sequel’s Impact system to model cyber risk.

Sequel, a Verisk business, said that its software will enable, to better capture and aggregate complex cyber exposure.

QIC Global is already familiar with the system as they previously used Sequel’s Impact system for energy and terrorism portfolio exposure management.

QIC Global chief risk officer Mark Graham said: “Sequel Impact has a robust and proven model-friendly data export function. Impact also offered us the flexibility to, if we wish to implement it, link to QIC Global’s in-house policy administration system to speed up data capture.

“We were already aware of the capabilities the system delivers, and we are delighted that we have been able to use Impact to enhance our capability to offer cyber risk products to our growing number of international clients.”

Sequel head of business development Ben Churney said: “Using Impact as the data repository, they have the flexibility of data capture and storage and the ability to export data to their model and run deterministic scenarios if required.

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“We are pleased that QIC Global has recognised the benefits that Sequel Impact can bring to their business. We have built a strong and successful alliance with QIC Global, and our latest agreement strengthens those ties and enables QIC Global to improve their business and their ability to meet the needs of their customers.

“The system delivers true flexibility and enables QIC Global to build a range of models that will provide their underwriters with the data to more accurately understand the risks they assume and the level of their exposure.”