Have you ever received a letter from your insurance company telling you that you might have unclaimed insurance funds? Or seen those annual unclaimed property lists in the newspaper announcing thousands of people who have money waiting to be claimed? If so, there’s a good chance Verus Analytics had something to do with it.
Verus Analytics, LLC is a data analytics company that finds, saves and recovers money for state government agencies and their citizens. Verus works with 48 of the 50 United States and has helped them recover literally billions of dollars in unclaimed property for millions of families. Very often, these funds are life changing for the people who receive them.
Sungard AS is our trusted partner providing just about everything related to the computing infrastructure, network, disaster recover, offsite backup; they provide end-to-end services for us. Without our data, Verus Analytics would cease to exist.
Founded in 2007, Verus initially focused on unclaimed life insurance benefits. The company has since expanded its service offerings to help state regulators identify tax evasion, avoid improper payments and reduce Medicare waste. Over the last 12 years, Verus has grown from one terabyte to more than 40 terabytes of data under its control.
“We knew from the beginning that we were looking for a top-notch professional vendor who could help us not just with the growth question, but to address everything else,” says Peter Lee, Chief Technology Officer for Verus Analytics. “For example, we needed a quality data center, network infrastructure, and professional execution. Those are the factors that we were looking for when we found Sungard AS.”
With billions of dollars riding on its ability to mine terabytes of sensitive data, Verus turned to Sungard Availability Services (Sungard AS) to host its primary and disaster recovery (DR) infrastructure, and to provide vaulting services for critical data – assuring the resilience and security it needs to deliver on its commitments to customers. A twenty-four-hour downtime can translate into millions of dollars lost for Verus Analytics
“We’re a little like manufacturers, but we don’t have raw materials or an assembly line. Data is our raw material. Our analysts and data scientists are our assembly line,” Lee explained. IT resiliency – or having access to its data information anytime, anywhere – is critically important for Verus Analytics because data is its business.
“Sungard AS is our trusted partner providing just about everything related to the computing infrastructure, network, disaster recover, offsite backup; they provide end-to-end services for us,” Lee added. “Without our data, Verus Analytics would cease to exist.”
Working with almost every state government in the U.S., regulatory compliance and security are vital. Being trusted with PII data and tax data, being SOC1 and SOC2 certified, and remaining ISO 9001 compliant, Verus goes through multiple audits year after year. Lee and his team can rest easy knowing that auditors are continually satisfied since Verus entrusts its computing assets to Sungard AS.
Not only that, but if there is a disaster, Verus Analytics is confident knowing Sungard AS has its back. “We can recover our data center, but we may not be able to move our people to where they are needed when there is a disaster,” Lee said. Being based in Southern California, if the ‘big one’ should hit, most of its analysts and data scientists would not be able to go where they are needed just because transportation may become a problem. But Verus Analytics contracts with Sungard AS for remote workplace recovery services so that in case they cannot dispatch their own personnel, Sungard AS personnel would be its extension. “I would not even dream of doing those things on our own,” Lee concluded.
While some people dream of finding a surprise sum of money in the form of unclaimed property, Verus Analytics can rest easy knowing its efforts help state governments increase financial compliance and benefit their citizens. Learn more about Verus Analytics and its trusted relationship with Sungard AS to support its recovery efforts in our new case study and video.