With the arrival and full realization of the Information Age, data really has become the new currency, and whether you are an individual or a business, we are all getting wise to the fact that data has significant intrinsic value. We are witnessing an exponential increase in the volume of data generated by everything being measured, monitored, observed and recorded all around us, and that pace does not show signs of slowing anytime soon. Every day we add to this data mountain, creating new data – whether we are aware of it or not. We give some data explicitly – but more often we now generate data implicitly, simply by our interactions with people, devices, and even locations.
I am thrilled to join the team at RMS as CTO, with some sensational prospects for growth ahead of us. I originally came to RMS in a consulting role with CodeFutures Corporation, tapped to consult RMS on the development of RMS(one). In that role, I became fascinated by RMS as a company, by the vision for RMS(one), and by the unique challenges and opportunities that it presented. I am delighted to bring my experience and expertise in-house, where my primary focus is continuing the development of the RMS(one) platform and ensuring a seamless transition from our existing core product line.
I have tackled many big data problems in my previous role as CEO and COO of CodeFutures, where we created a big data platform designed to remove the complexity and limitations of current data management approaches. In my more than 20 years of experience with advanced software architectures, I worked with many of the most innovative and brilliant people in high-performance computing; I have helped organizations address the challenges of big data performance and scalability, encouraging effective applications of emerging technologies to fields including social networking, mobile applications, gaming, and complex computing systems.
Each big data problem is unique, but RMS’ is particularly intriguing. Part of what attracted me to the CTO role at RMS was the idea of tackling head-on the intense technical challenges of delivering a scalable risk management platform to an international group of the world’s leading insurance companies. Risk management is unique in the type and scale of data it manages; traditional big data techniques fall far short when tackling this problem. Not only do we need to handle data and processing at tremendous scale, we need to do it with the speed that meets customer expectations. RMS has customers all around the world and we need to deliver a platform they can all leverage to get results they need and expect.
The primary purpose of RMS(one) is to enable companies in the insurance, reinsurance, and insurance-linked securities industries to run RMS next generation HD catastrophe models. It will also allow them to implement their own models and give them access to others by third-party developers in an ever-growing ecosystem. It is designed as an open exposure and risk management platform on which users can define the full gamut of their exposures and contracts, and then implement their own analytics on a highly scalable and purpose-built cloud-based platform. RMS(one) will offer unprecedented flexibility, as well as truly real-time and dynamic risk management processes that will generate more resilient and profitable portfolios—very exciting stuff!
During development of RMS(one), we have garnered outstanding support and feedback from key customers and joint development partners; we know the platform is the first of its kind—a truly integrated and scalable platform for managing risk has never been accomplished before. Through beta testing we obtained hands-on feedback from said customers that we are leveraging into our new designs and capabilities. The idea is to provide new means to enable risk managers to change how they work, providing better results while expending less effort and time.
I work closely with several teams within the company, including software development, model development, product management, sales, and others to deliver on the platform’s objectives. The most engaging part of this work is turning the plans into workable designs that can then be executed by our teams. There is a tremendous group of talented individuals at RMS, and a big part of my job is to coalesce their efforts into a great final product, leveraging the brilliant ideas I encounter from many parts of the company. It is totally exciting, and our focus is riveted on delivering against the plan for RMS(one).