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Cloud Computing Journal: The move to cloud isn't about saving money, it is about saving time - ...| By PR Newswire | Article Rating: |
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| November 5, 2012 11:54 AM EST | Reads: |
341 |
SEATTLE, Nov. 5, 2012 /PRNewswire/ -- Torrent Technologies, Inc. announced today that it is on track for another year of record growth in 2012, fueled largely by TorrentFlood®, the industry's leading flood policy and claims administration system.
Since its inception in 2005, Torrent has rapidly acquired market share in an industry that has been widely stagnant for decades due to legacy technology and antiquated service options. Torrent's leading product, TorrentFlood®, has fundamentally changed the way private insurance carriers operate in the National Flood Insurance Program (NFIP) by providing real-time processing and intuitive tools that promote higher accuracy with much lower overhead. Torrent's growth, coupled with the rapid adoption of the TorrentFlood® platform, has put the company in a position to begin extending its products and services into a broader market.
"Our vision for Torrent is to leverage the flexibility and power of our software, infrastructure, and industry expertise to deliver the best products and services to our customers. Now, we are investing in ways to expand our flood platform to augment our current offerings for related industries," said Travis Pine, founder and CEO.
With its core business enjoying record growth, the company plans to unveil new products and services in the coming months. In support of this expansion, Torrent is migrating its software platform to the Cloud, providing customers with a next-generation infrastructure that is inherently highly secure and scalable, further widening the technology gap between Torrent and its competitors. "We are the first and only flood servicing company to leverage this technology," Pine added.
Strengthening its Leadership Team to Expand into New Markets
Torrent's success has enabled it to expand into new markets, building on its industry expertise and flagship product, TorrentFlood® to provide innovative solutions to other underserved insurance channels and more broadly, financial services. For the past several years, Torrent Government Contracting Services, a wholly owned subsidiary of Torrent Technologies, has supported a major NFIP contract and is aggressively seeking to deepen its footprint in future government contracts.
Additionally, Pine is restructuring Torrent to add business units and leadership needed to support future growth. It includes wholly owned subsidiary, Torrent Insurance Solutions, LLC, based in Kalispell, MT, which will continue to focus on traditional flood channels as well as seek new opportunities in insurance. Pine has named Doug Fraley as CEO of this new business unit, with Torrent co-founder, Theresa 'TJ' Johnston continuing as President and COO. Pine remains CEO and Chairman of the parent company, Torrent Technologies, Inc., staying active in flood, while expanding the corporate footprint.
Fraley brings more than 20 years of insurance leadership to Torrent, half of which have been in flood. "Many think of Torrent as a technology leader because we offer a platform that is far superior to anything available in the flood insurance market today," Fraley said. "But we are a business services company first, leveraging the most comprehensive and leading technology to provide our customers with products, service levels and capabilities that are simply unmatched in this industry. Seeing first-hand the power of the TorrentFlood® platform and just how far ahead Torrent's technology and service levels were, made me decide to join this company."
About Torrent Technologies
Torrent Technologies is a business services company that leverages its proprietary technology platform TorrentFlood® to effectively enable private insurance carriers and financial institutions to participate in the National Flood Insurance Program. Founded in 2005, Torrent has offices in Seattle, WA, Kalispell, MT and Washington, D.C. Torrent Insurance Solutions LLC and Torrent Government Contracting Services are wholly owned subsidiaries of Torrent Technologies. For more information, visit www.torrentcorp.com.
SOURCE Torrent Technologies, Inc.
Published November 5, 2012 Reads 341
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“Regulations and compliance are key trust topics with regards to cloud solutions and technology,” noted Sven Denecken, Vice President, Strategy and Co-Innovation Cloud Solutions, SAP AG, in this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan. “But it is also more than security of access – it is portability of data and a clear definition of where the data resides.”
Cloud Computing Journal: The move to cloud isn't about saving money, it is about saving time – agree or disagree?
Sve...
Many organizations want to expand upon the IaaS foundation to deliver cloud services in all forms – software, mobility, infrastructure and IT. Understanding the strategy, planning process and tools for this transformation will help catalyze changes in the way the business operates and deliver real value.
IT has more opportunities than ever before with the growth in users, devices, data and secure cloud services. This creates not only a more enriching experience for users, but more opportunities for businesses. The key to capitalizing on these opportunities is to have the right tools in place to help scale operations. In his Day 3 Keynote at 12th Cloud Expo | Cloud Expo New York [June 10-13, 2013], Intel's Rob Crooke will describe the range of products that Intel provides to support different usa...
One of the cloud’s biggest draws is the capability to virtualize computing resources, allowing it to be consumed with the click of a mouse. But behind that simple click is an enormous infrastructure challenge that has recently been cited as a major cause for slower enterprise adoption. Enterprises can better prepare for this shift and take full advantage of future computing benefits. Between architecture design and migration planning, the road can be long, so what do you do with your talent?
I...
In the old world of IT, if you didn't have hardware capacity or the budget to buy more, your project was dead in the water. Budget constraints can leave some of the best, most creative and most ingenious innovations on the cutting room floor. It’s a true dilemma for developers and innovators – why spend the time creating, when a project could be abandoned in a blink? That was the old world. In the new world of IT, developers rule. They have access to resources they can spin up instantly.
A hyb...
INetU, the industry's experts in complex hosting and a global provider of business-centric managed cloud and application hosting, has announced that Cloud Architect Rich Hand will be presenting "Private Cloud, Public Cloud - Is There a Third Option?" at the 12th International Cloud Expo taking place June 10-13, 2013 in New York City.
As more enterprise IT departments move into the cloud, many executives are evaluating whether to adopt a Public or Private cloud. The cost benefits of the Public ...
“I’m careful when using terms like Big Data, because it can mean so many things to different people,” explained Eric Hanselman, Chief Analyst at 451 Research, in this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan. “There is huge value in analytics that companies can use to pull intelligence from a collection of data sources that are available in their businesses. The inexpensive storage that cloud services can offer make a great environment to pull together siloed data.”
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