Ignition Technology Group Ltd has developed a new Rapid Technology Platform to help start-up firms, including new Insurance Linked Securities (ILS) Companies, establish a ready-to-use technology environment.

An offshore financial cloud service and managed services leader, Ignition, has created a fully scalable product that provides all the key functionality required by start-ups and includes Ignition’s considerable experience with the needs of start-up companies.

Rich James, chief technology officer at Ignition, said: “By providing a start-up RTP package to new firms locating to Bermuda, our technology professionals can help them get their technology environment functioning very quickly and can support them as they expand, while offering them the many benefits of working with an experienced offshore technology leader.

“This is a great product for ILS or similar offshore financial services companies that need to get operating very quickly.

“Given that it is fully hosted offshore, it can also help in the establishment of an offshore presence for firms that require data to not reside in the US or similar jurisdictions.”

The company said it has recognised a growing need in the marketplace to provide a fully managed product to offshore start-up organisations to enable them to get their IT systems set-up and operating quickly with minimal capital costs.

The RTP provides clients with the IT functionality needed to commence and grow a company, including e-mail, file storage, user directory, virtual desktops, security and backups, domain registration and a Bermuda hosted web page.