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RMS and MongoDB team up for risk management solution

RMS and MongoDB team up for risk management solution 

Tailored for insurance companies, the cloud-based RMS(one) provides the data and analytics RMS clients need to estimate the risk from global catastrophes, so that they can more effectively manage their capital and build growth strategies.

“RMS(one) is a unique platform; nothing like this has ever been built for the insurance industry,” said Philippe Stephan, CTO, RMS. “By providing enterprise-wide access to comprehensive risk information, we’re opening up a completely new way of doing business for our clients, who will benefit from greater efficiency in underwriting portfolio management.”

The MongoDB-based platform currently stores over 100 billion documents per year, and will scale to support trillions, as needed. With MongoDB’s document model, RMS is able to create attributes for risk exposure data, including property, business, and policy information, according to its various clients’ needs.

“Compared to technology of the past, MongoDB delivers massive horizontal scale with a highly secure, reliable and resilient back-end data store,” said Stephan. “MongoDB’s schema extensibility, ease of use and robust deployment features enabled us to rapidly develop RMS(one), moving from our current deployed enterprise product to a MongoDB-based cloud system.”

“The RMS(one) platform is an ambitious project that has the potential to transform a multi-trillion dollar industry,” added Max Schireson, CEO, MongoDB. “As evidenced by the complexity and scale demands of this platform, MongoDB continues to be the NoSQL solution of choice to support big data applications. RMS’ focus on using innovative, forward-looking technology, along with their 25 years of expertise in the industry, offers a powerful combination to help their clients realize the business benefits of a truly real-time and resilient enterprise.”

RMS(one) is currently in beta and will become available in spring 2014.

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