RMS Drives the Insurance Industry’s Digital Transformation with Microsoft Azure
RMS(one) on Microsoft Azure offers a new approach to exposure and risk management for the insurance industry through better positioning companies to overcome limitations to their business agility
NEWARK, Calif. -
September 20, 2017 -
RMS, a leading global risk modeling and data analytics firm, today announced its RMS(one)® solutions will be hosted on Microsoft Azure. The company selected Azure as its preferred cloud hosting partner to deliver a next-generation approach to exposure and risk management. RMS clients can now access an expansive suite of RMS(one) modeling and analytical tools in full confidence that they are hosted on the world’s most-trusted cloud service, used by 90 percent of Fortune 500 firms.
RMS is committed to helping re/insurers capitalize on big data and analytics to inject pace into their decision-making, drive greater operational efficiencies in their business and support innovation and sustainable growth in the industry. By harnessing the power of RMS(one), the first commercially available exposure and risk management platform purpose-built for the insurance industry, clients of RMS can access high volumes of exposure data to create actionable and timely risk-based insights that can be routed directly to the risk management and underwriting decision-makers.
“We are excited to work with Microsoft, a trusted company that is committed to supporting our industry, to deliver our cutting-edge RMS(one) risk modeling and analytics solutions,” said Eric Yau, general manager of software at RMS. “As re/insurers have traditionally faced a myriad of challenges that limit their business agility, access to the immense computational power of RMS(one), combined with Microsoft Azure, will enable them to mine deep into the huge amounts of data they hold to find growth opportunities and minimize potential losses. Their highly secure cloud environment and global footprint ensures that our clients’ data and risk analytics are treated with the utmost security, scalability and reliability.”
Jonathan Silverman, director, worldwide insurance solutions at Microsoft Corporation added, "RMS is helping drive real digital transformation of the insurance industry. The RMS(one) platform running on Microsoft Azure creates a new class of risk management system for carriers, in a highly protected cloud environment developed with input from regulators worldwide. RMS knows insurance risk and its related data analytics, and Microsoft knows how to provide elastic compute power in the cloud. That combination now powers RMS(one), providing insurance companies with a greater ability to more accurately model and understand their risks.”
The partnership of RMS(one) running on Microsoft Azure goes beyond risk management to provide the industry with sophisticated solutions to promote growth, innovation and competitive advantage, whilst leveraging the flexibility of the cloud. Together, RMS and Microsoft are dedicated to lowering operational costs and increasing business efficiencies through revolutionizing the future of risk management by utilizing cutting-edge, integrated systems.
RMS solutions help insurers, financial markets, corporations, and public agencies evaluate and manage catastrophe risks throughout the world. We lead an industry that we helped to pioneer—catastrophe risk modeling—and are delivering models, data, and risk management solutions on the RMS(one)® platform to transform the world’s understanding and quantification of risk through open, real-time exposure and risk management.
More than 400 insurers, reinsurers, trading companies, and other financial institutions trust RMS solutions to better understand and manage the risks of natural and human-made catastrophes, including hurricanes, earthquakes, floods, terrorism, and pandemics.