3263822 - Failed to create documented in Lumira Designer 2.4 connected to BIP

Error "Failed to create remote document" pops upon creating Lumira documents in Lumira Designer connected to Business Object Platform

In the errors log we see the following: 
com.sap.ip.bi.zen.connectivity.ConnectivityException: Failed to create remote document "<Your document>"
 at com.sap.ip.bi.zen.backends.lumx.LumxSystem.createDocument(LumxSystem.java:1266)
 at com.sap.ip.bi.zen.ui.internal.view.documents.CreateDocumentAction.createDocuments(CreateDocumentAction.java:115)
 at com.sap.ip.bi.zen.ui.internal.view.documents.CreateDocumentAction$1.execute(CreateDocumentAction.java:53)
 at org.eclipse.ui.actions.WorkspaceModifyOperation.lambda$0(WorkspaceModifyOperation.java:110)
 at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2295)
 at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2322)
 at org.eclipse.ui.actions.WorkspaceModifyOperation.run(WorkspaceModifyOperation.java:131)
 at org.eclipse.jface.operation.ModalContext$ModalContextThread.run(ModalContext.java:122)
Caused by: com.sap.ip.bi.zen.connectivity.ConnectivityException: java.net.UnknownHostException: psg-62882
 at com.sap.ip.bi.zen.backends.lumx.DocumentServer.createDocument(DocumentServer.java:1539)
 at com.sap.ip.bi.zen.backends.lumx.LumxSystem.createDocument(LumxSystem.java:1263)
 ... 7 more
Caused by: java.net.UnknownHostException: <Your BIP host>
 at java.net.Inet4AddressImpl.lookupAllHostAddr(Native Method)
 at java.net.InetAddress$3.lookupAllHostAddr(InetAddress.java:977)
 at java.net.InetAddress.getAddressesFromNameService(InetAddress.java:1372)
 at java.net.InetAddress.getAllByName0(InetAddress.java:1325)
 at java.net.InetAddress.getAllByName(InetAddress.java:1241)
 at java.net.InetAddress.getAllByName(InetAddress.java:1175)
 at org.apache.http.impl.conn.SystemDefaultDnsResolver.resolve(SystemDefaultDnsResolver.java:45)
 at org.apache.http.impl.conn.DefaultHttpClientConnectionOperator.connect(DefaultHttpClientConnectionOperator.java:112)
 at org.apache.http.impl.conn.PoolingHttpClientConnectionManager.connect(PoolingHttpClientConnectionManager.java:373)
 at org.apache.http.impl.execchain.MainClientExec.establishRoute(MainClientExec.java:394)
 at org.apache.http.impl.execchain.MainClientExec.execute(MainClientExec.java:237)
 at org.apache.http.impl.execchain.ProtocolExec.execute(ProtocolExec.java:185)
 at org.apache.http.impl.execchain.RetryExec.execute(RetryExec.java:89)
 at org.apache.http.impl.execchain.RedirectExec.execute(RedirectExec.java:110)
 at org.apache.http.impl.client.InternalHttpClient.doExecute(InternalHttpClient.java:185)
 at org.apache.http.impl.client.CloseableHttpClient.execute(CloseableHttpClient.java:83)
 at org.apache.http.impl.client.CloseableHttpClient.execute(CloseableHttpClient.java:108)
 at com.sap.ip.bi.zen.backends.lumx.RestfulWsHelper.retrieveRestFulWebServicesToken(RestfulWsHelper.java:116)
 at com.sap.ip.bi.zen.backends.lumx.RestfulWsHelper.uploadLumxDocument(RestfulWsHelper.java:55)
 at com.sap.ip.bi.zen.backends.lumx.DocumentServer.createDocument(DocumentServer.java:1536)

Lumira Designer/Server 2.4.x.x
BIP 4.3.x.x

Lumira, Documents, Failed, Error, BIP, BOE, Business, Object, Unknown, Exception , KBA , BI-LUM-SRV-BIP , SAP Lumira Server for BI Platform , BI-LUM-DER , Lumira Designer , Problem