Toronto-based LOGiQ3 pioneers first of a kind in life reinsurance industry with help of BlueLock Cloud Computing Solution
Toronto-based LOGiQ3 pioneers first of a kind in life reinsurance industry with help of BlueLock Cloud Computing Solution
Kick off will be September 2nd in the Atomium in Brussels.
12th August 2009: [PR2WEB] - Life reinsurance services company LOGiQ3 Inc is the first Business Process Outsourcing provider in the sector to deliver an on-demand infrastructure that powers business critical applications and systems for a major US client.
Working in collaboration with BlueLock, a cloud computing and managed IT services provider in Indianapolis, IN, LOGiQ3 has designed and deployed an innovative VMware-based 'cloud computing' environment.
This innovative 'infrastructure-as-a-service' approach ensures that computing capacity is tailored exactly to business needs, releasing companies from being trapped in the inefficient scale and cost model of traditional hosted infrastructures.
A spokesperson for the major US client commented:
"LOGiQ3 has harnessed the collaborative efforts between all parties involved to produce, on time and on budget, a ground breaking solution that ticked all the boxes we required: flexibility, scalability, security, business continuity and, naturally, cost. There are now 50,000 cessions under active management and this is set to double by the end of the year."
Simon Bell, Chief Operating Officer of LOGiQ3 said that the option for companies to build their own data centres is no longer feasible from both a financial and time perspective:
"Using a traditional physical hosted environment requires companies to obtain systems and applications hardware which then requires constant management overhead of extending and maintaining this growing physical environment. The cloud computing platform that BlueLock provides enables our clients to closely align the growth of their business with our infrastructure capacity without these costs and considerations."
LOGiQ3 is one of the leading agents of change within the life reinsurance industry, combining experienced industry personnel together with processes and bespoke technology across all the business functions.
About LOGiQ3
Founded in 2006 by Chris Murumets and Simon Bell, LOGiQ3 focuses on life reinsurance providing a variety of professional services including auditing, consulting and outsourcing to more than 15 companies in North America from its offices in Toronto, Canada, and Cardiff, UK.
Chris Murumets, Chief Executive Officer, has been in various sectors of the reinsurance service chain since 1990 and prior to LOGiQ3 worked with Sun Life Reinsurance.
Simon Bell, Chief Operating Officer, has a broad technology background and previously worked for Friends Provident in the UK. Former co-chairperson of the ACORD life reinsurance working group he helped in defining data standards for the life reinsurance industry.
The company, now employing 12 people, has targeted knowledge gaps within the industry and built a team who combine big picture awareness with a detailed understanding of issues facing life reinsurance practitioners, focusing on risk management, best practices and knowledgeable resources.
In September 2008, LOGiQ3 was placed 16th by Canada's PROFIT magazine in its annual PROFIT HOT 50 ranking, the first company from the life reinsurance industry to be recognised since nominations began.
www.logiq3.com
About BlueLock:
BlueLock serves its clients by providing the people, expertise and IT infrastructure in a world-class, SAS 70 certified data center.
The company provides Virtual Cloud Computing through Infrastructure-as-a-Service (IaaS) where clients subscribe monthly to just the right amount of computing, storage and bandwidth capacity needed today with the ability to grow "on demand" in the future.
Their unique IT environments are ideal for Web-facing software applications (also known as Web 2.0 or SaaS) and IT environments that require high availability and the ability to expand and contract dynamically for production or disaster recovery.
BlueLock, a Collina Ventures company, is privately-held and headquartered in Indianapolis, Indiana.
www.bluelock.com.
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