Welcome!

Microsoft Cloud Authors: Elizabeth White, Mihai Corbuleac, Pat Romanski, David Bermingham, Steven Mandel

News Feed Item

ProAssurance Reports Third Quarter 2012 Results

BIRMINGHAM, Ala., Nov. 6, 2012 /PRNewswire/ -- ProAssurance Corporation (NYSE:PRA) reports Net Income of $60.1 million, or $1.94 per diluted share for the third quarter of 2012. Operating Income for the third quarter was $52.9 million, or $1.71 per diluted share. Gross Premiums Written were $156.5 million in the third quarter of 2012. At September 30, 2012, Book Value per share was $76.47 and Shareholders' Equity was $2.3 billion.

(Logo: http://photos.prnewswire.com/prnh/20081024/PROASSURANCELOGO )

Unaudited Consolidated Financial Summary (in thousands)


Three Months Ended September 30,

Nine Months Ended September 30,



2012

2011

2012

2011


Gross Premiums Written

$ 156,547

$ 174,680

$ 429,223

$ 450,795


Net Premiums Written

$ 147,809

$ 164,798

$ 397,676

$ 421,692


Net Premiums Earned

$ 127,125

$ 134,627

$ 395,050

$ 403,766


Net Investment Income

$ 33,910

$ 34,116

$ 101,912

$ 106,573


Equity in Earnings (Loss) of
     Unconsolidated Subsidiaries

$    211

$ (2,264)

$ (4,082)

$ (6,044)


Net Investment Result

$ 34,121

$ 31,852

$ 97,830

$ 100,529


Net Realized Investment Gains (Losses)

$ 13,219

$ (11,972)

$ 22,348

$ (5,648)


Other Income

$  1,529

$  7,471

$  5,207

$ 11,745


Total Revenues

$ 175,994

$ 161,978

$ 520,435

$ 510,392


Net Losses and Loss Adjustment Expenses

$ 56,621

$ 63,176

$ 174,904

$ 197,951


Underwriting, Policy Acquisition
     and Operating Expenses

$ 33,280

$ 34,954

$ 103,083

$ 103,534


Interest Expense

$    350

$    932

$  2,002

$  2,645


Loss on extinguishment of debt

$  2,163

$      –

$  2,163

$      –


Total Expenses

$ 92,414

$ 99,062

$ 282,152

$ 304,130


Tax Expense

$ 23,474

$ 19,211

$ 64,079

$ 59,768


Net Income

$ 60,106

$ 43,705

$ 174,204

$ 146,494


Operating Income

$ 52,946

$ 48,366

$ 160,630

$ 147,007


Net Cash Provided by Operating Activities

$ 28,651

$ 53,366

$ 61,356

$ 106,418


 

Earnings per Share


Three Months Ended September 30,

Nine Months Ended September 30,


2012

2011

2012

2011

Weighted average number of
  common shares outstanding (in 000's)





    Basic

30,674

30,557

30,641

30,577

    Diluted

30,938

30,847

30,902

30,844

Net Income per share (Basic)

$   1.96

$   1.43

$   5.69

$   4.79

Net Income per share (Diluted)

$   1.94

$   1.42

$   5.64

$   4.75

Operating Income per share (Diluted)

$   1.71

$   1.57

$   5.20

$   4.77

 

Non-GAAP Financial Measures   
Operating Income is a "Non-GAAP" financial measure that is widely used in our industry to evaluate the performance of underwriting operations. Operating Income excludes the after-tax net effects of confidential settlements, the effects of Net Realized Investment (Gains) Losses, Debt Retirement (Gain) or Loss, and Guaranty Fund (Recoupments) Assessments. We believe it presents a useful view of the performance of our insurance operations.

While we believe disclosure of certain Non-GAAP information is appropriate, you should not consider this information without also considering the information we present in accordance with GAAP, which includes the net effect of confidential settlements, Net Realized Investment (Gains) Losses, Debt Retirement (Gain) or Loss, and Guaranty Fund (Recoupments) Assessments during the periods presented below. The following table reconciles Net Income to Operating Income.

Reconciliation of Net Income to Operating Income (in thousands, except per share data)


Three Months Ended September 30,

Nine Months Ended September 30,



2012

2011

2012

2011


Net Income

$ 60,106

$ 43,705

$ 174,204

$ 146,494


Items Excluded in the Calculation
of Operating Income:






(Gain) loss on extinguishment of debt

$  2,163

$      –

$  2,163

$      –


Net Realized Investment (Gains) Losses

$ (13,219)

$ 11,972

$ (22,348)

$  5,648


Guaranty Fund (Recoupments) Assessments

$     41

$     99

$     16

$     41


Effect of Confidential Settlements (Net)

$      –

$ (4,900)

$   (714)

$ (4,900)


Pre-Tax Effect of Exclusions

$ (11,015)

$  7,171

$ (20,883)

$    789


Tax Effect at 35%

$  3,855

$ (2,510)

$  7,309

$   (276)


Operating Income

$ 52,946

$ 48,366

$ 160,630

$ 147,007


Per Diluted Common Share:






  Net Income

$   1.94

$   1.42

$   5.64

$   4.75


  Effect of Adjustments

$ (0.23)

$   0.15

$  (0.44)

$   0.02


Operating Income Per Diluted Common Share

$   1.71

$   1.57

$   5.20

$   4.77


 

Key Ratios


Three Months Ended September 30,

Nine Months Ended September 30,


2012

2011

2012

2011

Current Accident Year Loss Ratio

83.9%

85.6%

84.1%

84.3%

Effect of Prior Accident Years'
Reserve Development

(39.4%)

(38.7%)

(39.8%)

(35.3%)

Net Loss Ratio

44.5%

46.9%

44.3%

49.0%

Expense Ratio

26.0%

25.8%

25.8%

25.2%

Combined Ratio

70.5%

72.7%

70.1%

74.2%

Operating Ratio

43.8%

47.4%

44.3%

47.8%

Return on Equity

10.4%

8.8%

10.3%

10.1%

Return on Equity is calculated by dividing annualized Net Income for the period by the average of beginning and ending Shareholders' Equity.


Management Commentary  
"We continue to focus on accepting and writing business that meets our risk and pricing goals. While this may affect top-line growth in the current market, in the end it best serves the long-term interests of our shareholders and policyholders. We are producing strong results through the disciplined execution of a long-term strategy that allows us to succeed in a historically volatile line of business. We combine a strict focus on profitable underwriting with a dedication to efficient, effective delivery of new products and unparalleled service to our policyholders and agents, allowing us to enhance the strength of our balance sheet while delivering meaningful value for our shareholders," said W. Stancil Starnes, the Chairman and Chief Executive Officer of ProAssurance. He added, "We are confident in our ability to deliver on the promise of Treated Fairly, now and in the future, because of our unique combination of operational discipline, financial strength and wide experience in a broad range of healthcare delivery settings."

Business Detail

  • Third quarter 2012 Gross Premiums Written were $157 million, a 10% decrease compared to the year-ago quarter; third quarter Net Premiums Earned were $127 million, a 6% decline over the year-ago quarter. The competitive marketplace, the effect of prior years' improved loss trends and the normal renewal pattern of our two-year policies reduced our top line, but we are committed to writing only that business that meets our pricing objectives. For the first nine months of 2012, Gross Premiums Written were $429 million, a year-over-year decrease of 5%. Net Premiums Earned for the first nine months of 2012 were $395 million, down 2% over the prior year's nine-month period.
  • Premium retention for our standard physician business was 89% in 2012's third quarter, unchanged from the same period a year ago. Through the first nine months of 2012, premium retention in our standard physician business was 90%, a one point improvement year-over-year.
  • Average renewal pricing on our physician medical professional liability book was 2% higher than expiring premium, comparing the third quarter of 2012 to the third quarter a year ago. This is partially due to higher rates in our podiatric line of business, where renewals are concentrated in the third quarter. Comparing the first nine months of 2012 to the first nine months of 2011, average renewal pricing on our physician medical professional liability book was higher by 1%.
  • We recognized $50 million in net favorable loss reserve development in the third quarter of 2012, compared to $52 million in the same period a year ago. For the nine months ended September 30, 2012, net favorable loss reserve development was $158 million, compared to $142 million in 2011. This net favorable development continues to come primarily from accident years 2004 to 2010 and is significantly attributable to loss severity that has proven to be lower than previously expected. The decline in claims frequency we, and the industry, experienced from 2004 to 2010 has generally not resulted in higher average loss payments (i.e., increasing severity), despite expectations to the contrary. Management is now assuming the moderate severity trend to be more sustainable and thus is giving it more credibility in the more recent accident years even though these accident years are not as fully developed. However, given the long-tailed nature of our claims, we continue to be mindful of the potential for severity to increase when recognizing favorable development in accident years that are not mature.

Investment Commentary

  • In the third quarter of 2012, our Net Investment Result (Net Investment Income plus Equity in Earnings (Loss) of Unconsolidated Subsidiaries) was $34 million, a 7% increase from the same period a year ago. In the third quarter, average yields on fixed income investment balances were marginally higher than in 2011. Additionally, we did see higher earnings from our interests in certain limited partnerships and lower amortization of our tax credit partnership investments. For the nine months ended September 30, 2012, our Net Investment Result was $98 million, down 3% compared to the same period in 2011.
  • Net Investment Income was $34 million in the third quarter of 2012, essentially unchanged from a year ago. For the nine months ended September 30, 2012, Net Investment Income was $102 million, a 4% decline from the same period in the prior year. Our average tax equivalent income yield for both the quarter and nine months ended September 30, 2012 was 4.5%, compared with 4.4% in third quarter 2011 and 4.6% for the nine months ended September 30, 2011.
  • The CUSIP-level disclosure of our investment holdings as of September 30, 2012 is available under Supplemental Investor Information in the Investor Relations section of our website, www.ProAssurance.com.

 

Balance Sheet Highlights (in thousands, except per share data)


September 30, 2012

December 31, 2011

Shareholders' Equity

$ 2,349,398

$ 2,164,453

Total Investments

$ 4,125,634

$ 4,090,541

Total Assets

$ 4,972,666

$ 4,998,878

Policy Liabilities

$ 2,497,256

$ 2,580,966

Accumulated Other Comprehensive Income (Loss)

$ 158,936

$ 130,037

Goodwill

$ 159,625

$ 159,625

Book Value per Share

$ 76.47

$ 70.84

 

Capital Management

  • In the third quarter of 2012 we completed the repayment of all of our long-term debt. The debt retirement used $53 million of funds previously authorized by our Board for the repurchase of stock and retirement of debt. This leaves us with $135 million available in that Board authorization. As part of the debt retirement, we recognized a loss of $2.2 million in the third quarter.
  • Our Board approved quarterly cash dividends of $0.25 per common share, paid in April, July and October of 2012. Please see the Investor Relations section of our website, www.ProAssurance.com, for a comprehensive history of our dividend payments.

Transaction Updates

  • Documents have been mailed to Medmarc policyholders to provide details on the announced transaction that would demutualize Medmarc and bring it into ProAssurance. Regulatory hearings are scheduled for November 8, 2012, followed by a special meeting of eligible members on December 4, 2012. If the transaction is approved by regulators and eligible members of Medmarc, we expect to close the transaction effective January 1, 2013. Medmarc is one of the nation's leading underwriters of products liability insurance for medical technology and life sciences, and also underwrites a book of legal professional liability (LPL) insurance. The transaction will expand our core insurance offerings and position us to better respond to diverse needs in healthcare liability, while the legal professional business is an important addition to our expanding LPL book.
  • Subscribers of Independent Nevada Physicians Insurance Exchange (IND) have approved a transaction that would bring IND into ProAssurance and make ProAssurance the leading writer of medical professional liability insurance in Nevada. The transaction remains subject to regulatory approval, and hearings are scheduled for November 27, 2012, with a projected closing date shortly thereafter.

About ProAssurance   
ProAssurance Corporation is the nation's largest independently traded specialty writer of medical professional liability insurance. ProAssurance is recognized as one of the top performing insurance companies in America by virtue of our inclusion in the Ward's 50 for the past six years. ProAssurance is rated "A" (Strong) by Fitch Ratings; ProAssurance Group is rated "A" (Excellent) by A.M. Best.

Conference Call Information

  • Live: Wednesday, November 7, 2012, 10:00 AM ET. Investors may dial (800) 723-6498 (toll free) or (785) 830-7989. The call will also be webcast on our website, www.ProAssurance.com, and on StreetEvents.com.
  • Replay: By telephone, through November 17, 2012, at (888) 203-1112 or (719) 457-0820, using access code 4431653. The replay will also be available on our website, www.ProAssurance.com, and on StreetEvents.com, through at least November 30, 2012.
  • Podcast: A replay, and other information about ProAssurance, is available on a free subscription basis through a link on the ProAssurance website or through Apple's iTunes.

Caution Regarding Forward-Looking Statements  
Statements in this news release that are not historical fact or that convey our view of future business, events or trends are specifically identified as forward-looking statements. Forward-looking statements are based upon our estimates and anticipation of future events and highlight certain risks and uncertainties that could cause actual results to vary materially from our expected results. We expressly claim the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, for any forward-looking statements in this news release. Forward-looking statements represent our outlook only as of the date of this news release. Except as required by law or regulation, we do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Forward-looking statements are generally identified by words such as, but not limited to, "anticipate," "believe," "estimate," "expect," "hope," "hopeful," "intend," "may," "optimistic," "potential," "preliminary," "project," "should," "will," and other analogous expressions. When we address topics such as liquidity and capital requirements, the value of our investments, return on equity, financial ratios, net income, premiums, losses and loss reserves, premium rates and retention of current business, competition and market conditions, the expansion of product lines, the development or acquisition of business in new geographical areas, the availability of acceptable reinsurance, actions by regulators and rating agencies, court actions, legislative actions, payment or performance of obligations under indebtedness, payment of dividends, and other similar matters, we are making forward-looking statements.

Risks that could adversely affect the proposed mergers of Medmarc Insurance Group (Medmarc) and Independent Nevada Doctors Insurance Exchange (IND) into ProAssurance include, but are not limited to, the following:

  • the businesses of ProAssurance and Medmarc or ProAssurance and IND may not be combined successfully, or such combination may take longer to accomplish than expected;
  • the cost savings from either transaction may not be fully realized or may take longer to realize than expected;
  • operating costs, customer loss and business disruption following either or both transactions, including adverse effects on relationships with employees, may be greater than expected;
  • governmental approvals of either or both transactions may not be obtained or adverse regulatory conditions may be imposed in connection with governmental approvals of either or both transactions;
  • there may be restrictions on our ability to achieve continued growth through expansion into other states or through acquisitions or business combinations;
  • the board of directors of Medmarc or the Subscriber Advisory Committee (SAC) of IND may withdraw their recommendation in favor of a competing acquisition proposal; and
  • those policyholders eligible to vote on the proposed Medmarc transaction may fail to approve it.

The following important factors are among those that could affect the actual outcome of other future events:

  • the expected benefits from completed and proposed acquisitions may not be achieved or may be delayed longer than expected due to business disruption, loss of customers, employees and key agents, increased operating costs or inability to achieve cost savings, and assumption of greater than expected liabilities, among other reasons;
  • general economic conditions, either nationally or in our market areas, that are different than
  • anticipated;
  • our ability to maintain our dividend payments;
  • regulatory, legislative and judicial actions or decisions that could affect our business plans or operations;
  • the enactment or repeal of tort reforms;
  • formation or dissolution of state-sponsored medical professional liability insurance entities that could remove or add sizable groups of physicians from or to the private insurance market;
  • the impact of deflation or inflation;
  • changes in the interest rate environment;
  • changes in U.S. laws or government regulations regarding financial markets or market activity that may affect the U.S. economy and our business;
  • changes in the ability of the U.S. government to meet its obligations that may affect the U.S. economy and our business;
  • performance of financial markets affecting the fair value of our investments or making it difficult to determine the value of our investments;
  • changes in accounting policies and practices that may be adopted by our regulatory agencies and the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board;
  • changes in laws or government regulations affecting medical professional liability insurance or the financial community;
  • the effects of changes in the healthcare delivery system, including, but not limited to, the Patient Protection and Affordable Care Act;
  • consolidation of healthcare providers and entities that are more likely to self insure and not purchase medical professional liability insurance;
  • uncertainties inherent in the estimate of loss and loss adjustment expense reserves and reinsurance, and changes in the availability, cost, quality, or collectability of insurance/reinsurance;
  • our ability to achieve continued growth through expansion into other states or through acquisitions or business combinations;
  • the results of litigation, including pre- or post-trial motions, trials and/or appeals we undertake;
  • an allegation of bad faith which may arise from our handling of any particular claim, including failure to settle;
  • loss of independent agents;
  • changes in our organization, compensation and benefit plans;
  • our ability to retain and recruit senior management;
  • our ability to purchase reinsurance and collect recoveries from our reinsurers;
  • assessments from guaranty funds;
  • our ability to achieve continued growth through expansion into other states or through
  • acquisitions or business combinations;
  • changes to the ratings assigned by rating agencies to our insurance subsidiaries, individually or as a group;
  • provisions in our charter documents, Delaware law and state insurance law may impede attempts to replace or remove management or attempts to initiate a takeover;
  • state insurance restrictions may prohibit assets held by our insurance subsidiaries, including cash and investment securities, from being used for general corporate purposes;
  • taxing authorities can take exception to our tax positions and cause us to incur significant amounts of defense costs and, if our defense is not successful, additional tax costs, including interest and penalties; and
  • insurance market conditions may alter the effectiveness of our current business strategy and affect our revenues.

Additional risk factors that may cause outcomes that differ from our expectations or projections are described in various documents filed by ProAssurance Corporation with the Securities and Exchange Commission, such as current reports on Form 8K, and regular reports on Forms 10Q and 10K, particularly in "Item 1A, Risk Factors."

SOURCE ProAssurance Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...