Asia Capital Reinsurance Chooses Revolution Analytics to Solve Big Data Challenges

Thu Jul 21, 2011 8:00am EDT

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Asia Capital Reinsurance Chooses Revolution Analytics to Solve Big Data Challenges

Leading Financial Services Company Analyzing Complex Data and Generating Business Insights with RevoDeployR and RevoScaleR

Revolution Analytics, the leading provider of commercial software and support for the popular open source R statistics language, today announced Asia Capital Reinsurance Group (ACR) has chosen RevoDeployR and RevoScaleR to manage its big data needs.

Headquartered in Singapore, ACR is the world’s first independent reinsurance group with an exclusive focus on serving clients in the fast-growing pan-Asian region, extending from the Middle East, through China to Japan, and south to Australia and New Zealand. ACR provides clients with a combination of strong Asian dedicated capacity, global underwriting standards and expertise, as well as in-depth knowledge of the Asian insurance markets. Like many companies in the financial services sector, ACR needed a solution for managing the explosion of big data effectively. Specific challenges included transferring data between various applications and systems, and generating useful insights from the data that could be applied in real-world business contexts.

“Revolution’s RevoDeployR and RevoScaleR software helps ACR handle Big Data without the high costs and hassles associated with traditional analytics,” said Betrand Cheam, System Analyst at ACR. “We are impressed by Revolution’s high quality code and parallel computing capability. In the world of financial services, that kind of ability translates into competitive advantage for ACR.”

RevoDeployR and RevoScaleR are key packages in the Revolution R Enterprise platform, which bring high performance, productivity and enterprise enhancements to R -- with innovations in ‘Big Data’ analysis, data import and user experience to meet the higher demands of production business environments. One key feature of Revolution R Enterprise is an out-of-the-box integration interface between applications and systems with existing analytical scripts in R. With RevoDeploy R, ACR accesses a standardized collection of web services that integrates security, APIs, scripts and libraries for R into a single server. Additionally, the RevoScaleR framework allows ACR to process, visualize and model data sets in a fraction of the time of legacy products—without employing expensive or specialized hardware.

With Revolution Analytics, ACR is ready for fast and efficient multi-core processing of Big Data sets. “RevoDeployR provides a web service that is platform-independent, easy to use and a standard for integration,” said Cheam. Since Revolution software represents the largest commercial distribution of the open-source R language, additional benefits include a large statistical library, availability of source code for peer review, and an active supporting community that improves and updates analytical scripts in R without downtime for business users.

“Financial service firms like Asia Capital Reinsurance need accurate, fast information, and Revolution R Enterprise is the most powerful tool available today that can address demands for the increasing size and speed of data,” said Jeff Erhardt, COO of Revolution Analytics. “Asia Capital Reinsurance has made a worthwhile investment in predictive analytics that will drive the company’s business decisions in the right direction.”

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About Revolution Analytics

Revolution Analytics is the leading commercial provider of software and services based on the open source R project for statistical computing. Led by predictive analytics pioneer Norman Nie, the company brings high performance, productivity and enterprise readiness to R, the most powerful statistics language in the world. The company’s flagship Revolution R product is designed to meet the production needs of large organizations in industries such as finance, life sciences, retail, manufacturing and media.

Used by over 2 million analysts in academia and at cutting-edge companies such as Google, Bank of America and Acxiom, R has emerged as the standard of innovation in statistical analysis. Revolution Analytics is committed to fostering the continued growth of the R community through sponsorship of the community site, funding worldwide R user groups and offers free licenses of Revolution R Enterprise to everyone in academia.

About Asia Capital Reinsurance Group

Asia Capital Reinsurance Group (ACR) has an exclusive focus on providing clients reinsurance solutions for large and specialist risks in the pan-Asian region. ACR is headquartered in Singapore, with a branch in Hong Kong and representative offices in India, Japan, Korea and Taiwan.

Rated “A-” for its financial strength by A.M. Best and Standard & Poor’s, ACR offers a combination of strong Asian dedicated capacity, global underwriting expertise and in-depth knowledge of the Asian insurance markets. ACR and its associated companies Asia Capital Reinsurance Malaysia, ACR ReTakaful MEA and ACR ReTakaful SEA together have a strong network in Asia and aggregated shareholders' funds of more than US$1 billion. All three associated companies hold A- (Excellent) ratings from A.M. Best.

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