eReinsure, Verio Expand Hosting and Managed Services Solution

Global IP and managed hosting solutions provider Verio and managed hosting customer eReinsure have renewed their contract, optimizing the solution for eReinsure clients with enhanced managed security and storage features and new infrastructure components. eReinsure offers Internet-based technologies to enable insurance companies to manage the process of buying reinsurance and support efficient data flows between insurers, brokers, and reinsurers.

"By using eReinsure's online negotiating platform, insurance companies, brokers, and reinsurers can efficiently conduct business with each other," says Igor Best-Devereux, CEO of eReinsure. "The platform provides a secure environment for these companies to establish terms of agreement and review and manage information related to reinsurance placements."

The system upgrade implemented by Verio is a direct reflection of the growth and popularity of eReinsure's platform in the reinsurance market. eReinsure added increased server capacity and dedicated load balancers. The system security was configured with high-availability managed firewall pairs for added redundancy over the previous architecture. With eReinsure clients negotiating thousands of reinsurance transactions each year, a high-availability system is essential.

Many insurance organizations have been investing to comply effectively with the Sarbanes-Oxley Act along with other regulations that require internal controls to ensure accurate financial reporting. "The eReinsure platform provides a way for our clients to manage reinsurance transactions while developing the control framework expected under the guidelines of Sarbanes-Oxley," Best-Devereux explains. "It was critical our hosting provider support this aspect of our business by maintaining appropriate controls over security and data storage. This was an important factor in the decision to host our solution at Verio's SAS70-certified premier data-center facilities."