Welcome!

News Feed Item

Oceanwide Launches First Cloud Provider Risk Assessment Tool for Insurance Industry

Online Cloud Provider Assessment Model Allows Industry to Compare Cloud Offerings

OMAHA, NE and MONTREAL, QC -- (Marketwired) -- 03/06/14 -- Oceanwide, Inc. (Oceanwide) announced today the launch of its Cloud Provider Assessment Model (CPAM). The first of its kind for the insurance industry, CPAM was designed to give information technology (IT) and information security (InfoSec) groups a method of comparing solutions from multiple cloud technology providers side-by-side in order to assess risk.

"Cloud computing is a hot topic for insurers," said Martina Conlon, principal, insurance, for Novarica. "More than half of insurers already rely on software-as-a-service solutions in some area and about 20 percent more are in active or planned pilots. Tools that assist with understanding the critical requirements, risks and considerations can be extremely helpful as insurers consider expanding their use of cloud into additional areas."

Oceanwide's CPAM, which is available via a free download from the Oceanwide website, relies on a series of multiple-choice questions, rather than subjectively typing answers into an RFI, to gather data for comparative rating purposes. The answers are then scored, allowing insurers to not only assess risk, but compare providers and solutions side-by-side.

"While it's not a substitute for full due diligence, it is a very simple, easy, and quick way for insurers to assess the risk of cloud providers they may be considering for a solution," said Mark Orosz, CISSP, CIO/CSO for Oceanwide, and leader of the Oceanwide team responsible for designing and building the CPAM. "We wanted to ensure that the industry as a whole doesn't stumble in its adoption of cloud applications."

Oceanwide's CPAM organizes questions into a set of standard security domains weighted to the specific needs of the insurance industry, including regulatory compliance, risk management, information security, and more. To design the security domains and questions, Orosz and the Oceanwide team relied on internal experience delivering SaaS solutions for insurance for nearly 20 years, and information gathered from over 100 requests for information (RFIs) and industry standards, such as PCI and ISO 27000 Series.

To learn more about CPAM and Oceanwide, please visit www.oceanwide.com.

About Oceanwide, Inc. (Oceanwide)
Founded in 1996, Oceanwide has been at the forefront of delivering SaaS insurance software for 17 years. Bridge, the latest offering from Oceanwide, offers a new approach to insurance policy administration systems. Designed from the ground up to be fully configured without custom programming, Bridge empowers insurers, MGAs, and brokers to take creative new ideas to market in weeks, not years. For additional information, please visit the Oceanwide website at www.oceanwide.com, or call (888) 289-7744.

Media Contact:
Jennifer Overhulse
St. Nick Media Services
859.803-6597
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
"Our strategy is to focus on the hyperscale providers - AWS, Azure, and Google. Over the last year we saw that a lot of developers need to learn how to do their job in the cloud and we see this DevOps movement that we are catering to with our content," stated Alessandro Fasan, Head of Global Sales at Cloud Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessio...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
For far too long technology teams have lived in siloes. Not only physical siloes, but cultural siloes pushed by competing objectives. This includes informational siloes where business users require one set of data and tech teams require different data. DevOps intends to bridge these gaps to make tech driven operations more aligned and efficient.
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.