Sequel, the leading insurance and reinsurance software specialist, has today announced that Qatar Insurance Company (QIC), the international insurance firm based in the Middle East, has chosen Sequel Impact to help its offshore energy team manage its global exposure to risk for their Lloyd’s Antares Syndicate, QIC and Qatar Re businesses.
Sequel Impact is a powerful exposure analysis management tool that will accurately report risk across QIC’s entire offshore business, whilst also providing a centralised platform to connect its global network of insurance subsidiaries. Sequel’s innovative solution will also allow the insurer to streamline its internal processes and avoid duplication when writing risk.
Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA region, with offices in Doha, Bermuda, London, Malta, Singapore, Zurich and various GCC/MENA countries. This latest deal with QIC has enabled Sequel to grow its presence within the MENA region even further.
Rob Stavrou, Sales and Marketing Director at Sequel, said:
“By implementing Sequel Impact, QIC has replaced its legacy offshore risk exposure tool with a modern application that is fit for purpose. We are seeing more and more businesses like QIC coming to us for help with managing exposure to risk across multiple regions. By providing a single centralised platform, Sequel Impact enables insurers to bring together multiple parts of the business more effectively, regardless of their location or asset classification, which not only helps them to align their operations, but also allows insurers to make more informed, accurate decisions.”
Peter Frei, Head of Group Exposure Management at QIC, said:
“Sequel Impact has enabled us to streamline our energy exposure processes at a global level. As a fully web enabled application we are able to access this single platform anywhere in the world. We chose Sequel because of its experience and ability to seamlessly migrate from our legacy platform into a class-leading application. The combination of Sequel’s highly skilled team, innovative spirit and commitment to quality is really second to none.”