For an integrated risk management system, your hosting solution can be as important as the software itself. This is especially true if you have multiple data sources integrated into a central system. Given the need for consistent uptime, real-time insights, and scalability, many risk management professionals opt for a dedicated hosting solution. After all, why not limit risk when it comes to your risk management system, too?
Here are some ways to put the benefits of a dedicated hosting solution to work for your risk management software.
Ultra-high Availability
With an integrated risk management solution hosted in dedicated data centers, the system has exclusive use of your computing and networking resources. This boosts availability because your risk management system doesn’t have to compete with others for bandwidth or processing power.
Redundancy and How it Helps
Redundancy plays a central role in boosting availability because it gives you a failsafe in the unlikely event that there’s an issue with your primary hosting solution. Here’s how it works for different aspects of your IRM hosting solution:
- Data redundancy. When your hosting solution has data redundancy, you have multiple data storage systems being populated with your data at the same time. If one fails, you already have the data you need in the other data warehouse or lake.
- Server redundancy. In a dedicated IRM hosting solution, you have multiple physical servers, and they’re capable of running more than one virtual machine (VM). A virtual machine performs computational functions using software instead of hardware. Each virtual machine can have a copy of your IRM software. If one fails, the other one can quickly take over.
Disaster Recovery and Backup Capabilities
When you use a dedicated hosting solution for your IRM software, you can have access to automated backup and disaster recovery. This gives you regular, automatic backups both on multiple servers in a single data center and those in another geographical region.
For example, suppose an epic snowstorm hits a data center that hosts your IRM solution, knocking out power to the facility. Immediately, the backup power source would kick in and keep your operation running.
On the other hand, suppose there’s a fire and the entire infrastructure—including the backup power source—goes out of commission. Then your redundant systems in the other geographical location, hundreds of miles away, could spin up and get you back on track right away.
By the same token, suppose you choose to host some of your IRM solutions in-house on an on-premise server. If there’s a problem with that server, your backup in the cloud has you covered. You have ready access to both your software and its data.
Straightforward Scalability
When you have a dedicated hosting solution for your IRM system, scaling is simply a matter of putting in a request. There’s no need to shop for another cloud provider and then hope they’ll be able to integrate your scaled servers with your current ones. Your hosting provider can simply connect another blade or rack server, configure it, and you’re good to go.
In addition, because your provider knows what your IRM software needs, configuring your scaled services is straightforward and routine.
Easier Compliance
Regardless of the compliance standard you need to reach, a dedicated hosting solution simplifies the process. Because your IRM hosting provider understands the ins and outs of the risk management data security landscape, they’re well-equipped to meet requirements and make adjustments when necessary.
For instance, suppose you want to conform to the National Association of Insurance Commissioners (NAIC) Data Security Model Law. This requires that you have systems in place for encrypting data, incident response, and breach notifications.
With a dedicated hosting solution for your IRM software, your provider has all the information you need regarding how your data moves, how it’s encrypted, and how it responds to incidents. If there’s a breach, you can rely on your dedicated hosting to communicate details according to your needs and NAIC standards.
A dedicated IRM hosting solution also benefits your internal governance strategy because it enables you to implement plans and adjustments as you see fit.
For example, let’s say you want an identity and access management system positioned in front of a database that only a few employees need to do their jobs. A hosting service with knowledge of how the risk management business works can both implement the solution and make recommendations regarding people you may want to add or remove from the authorized access list.
In short, you get a knowledgeable partner as opposed to just a run-of-the-mill data center.
Ventiv has dedicated IRM hosting centers in Denver and Atlanta. These give you availability around the clock, and if the system needs to pause for maintenance, you’re given a heads-up. You can consume as much bandwidth as you’d like and have a disaster recovery mechanism already in place. Learn more about the possibilities by reaching out to us today.
