Cosan Consulting has launched ARM, a new administration resilience and mobility solution that offers what it claims is the UK’s first, cloud hosted, ‘escrow type’ independent data backup for pension schemes.
Callsed Cosan Datastore, the backup service is designed to support trustees in assessing and addressing the risks of not being able to serve members in times of crisis due to not having access to scheme records and data.
The new service has been launched to enable clients to respond quickly should events mean that a rapid move to restore administration services becomes necessary. Whilst primarily aimed at the in-house market, there is also an application for outsourced schemes which would benefit from a more direct and immediate relationship with their own data and records.
Philip Dickinson, a founding director of Cosan Consulting, says: “Whilst our ARM solution is not a direct result of the pandemic, the last 12 months have shown that trustees need to have plans in place to ensure the resilience of the administration of their schemes should a crisis come along. We also believe that, in future, we are likely to see greater oversight in this area from industry regulators.
“ARM and Datastore have been designed to help trustees ensure they have the ability to get their scheme up and running within days. Critically, our service is totally independent and thus ensures that trustees are able to access the complete range of provider solutions that exist either on a temporary or longer term basis.”
