Cloud Architecture Encourages 'Freedom and Flexibility'
With the RMS Cloud up and running, the insurer's clients no longer have to run risk models on their own servers, using a product that had to be shipped to clients, Stanford says. The cloud architecture gives them the "freedom and flexibility" to perform additional analyses as necessary. Datapipe's Stratosphere Hosted Private Cloud platform handles peak loads in Verne Global's data center.
Plus, Putting the cloud environment in Iceland places it in close proximity to Amazon Web Services data centers in London and Dublin. (The island also has redundant cables that link it to Europe and Boston, the latter via Greenland and Nova Scotia, Rhodes says.) This is good for latency, Stanford says, and also helps when RMS needs to boost capacity in the event of a catastrophe or an insurance policy renewal. "We're aiming to automate at scale as much as possible," he says.
Finally, the scalability may give RMS the opportunity to offer RMS(one) to clients beyond the insurance industry that need to calculate risk, Stanford says, specifically citing real estate and government agencies.
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