Beeminds introduces support for the SIVI standard within its Data-as-a-Service service. With this service we combine the power of standardization and AI and make it possible for insurers – and brokers – to start working with data faster & sustainably, without introducing additional management burden. SIVI is seen as the number one data standard within the Dutch financial services industry.
In view of the rapid developments around AI and the increasing importance of reliable data within the insurance industry, it is time for a different approach that deals responsibly with data, agrees the Association of Insurers.
Beeminds delivers ‘data like water from the tap’ through the Intelligenthive solution, which is deployed within the insurer’s cloud environment so there is no lock-in.
This solution is now adapted to the specific requirements of the Dutch insurance industry, including the support of SIVI standard, which ensures a solid data foundation, where data management and data governance are secured from the start.
The power of standardization complemented by AI
Beeminds can completely unburden organizations or support existing data teams in their data journey. Partly thanks to the use and power of standards & AI, the delivery of data products such as dashboards, predictive models but also the realization of op
OpenAI (known from ChatGPT) based data use cases accelerated by at least a factor of 4. Faster experimentation with data and faster scaling up to production.
“With Intelligenthive, you as an insurer or broker have a solution that allows you to realize a sustainable data foundation, powered by AI & sector standards. With this you say goodbye to complexity, poor data quality and we ensure that finally your data lineage & data privacy are demonstrably arranged. There is no lock-in: all data is in your own cloud environment. Our solution has already been tested and deployed at several insurers and we are confident that it will enable the insurance industry to use data in a fast and responsible way.”
By means of a number of self-developed powerful AI functionalities, time-consuming data management activities are suppressed. Beeminds uses OpenAI technology, which is also used in the well-known ChatGPT. By using the Azure OpenAI service
organizations do not have to worry about privacy or security. The data used never leaves your cloud environment and metadata is used instead of real data. Of course, the data professionals themselves remain involved to validate the output for any errors.
With these state-of-the-art features, the time it takes to map your source systems to the SIVI standard is reduced by up to 70% reduced. In addition, you generate an optimized dataset at the push of a button that allows you to use your data in Power BI or Tableau as well.
You also promote compliancy & address concerns around data privacy by generating virtually real – but anonymous – test data. In the coming months, the Beeminds team will be adding even more powerful AI functionalities to the Intelligenthive. Our customers will automatically benefit from this, as part of the Data-as-a-Service service.
Standardization with flexibility
Intelligenthive provides support for industry standards through its unique “Industry Models. The fact that the various SIVI standards are now included as Industry Models is good news for insurers and/or brokers (both MGUs and MGAs) who would like to make use of this standard, but do not want to have to deal with all the complexity involved.
Our solution not only makes it possible to connect to this standard easily and quickly, but also to extend and adapt this standard in a controlled manner. Thus, through a user-friendly portal, it is possible to implement extensions or modifications to the data model without losing the underlying relationship with the SIVI standard. As a result, data deliveries & reports based on this standard always continue to work.
The SIVI standards are maintained and updated by Beeminds and are a standard part of the service. Working on the basis of this independently managed ‘data language’ brings many benefits around data exchange with other parties and reduction of complexity. You can start working with the SIVI standard immediately, regardless of whether you already have an existing data platform or not.
The Intelligenthive can handle both the Microsoft cloud platform (Microsoft Fabric) as well as a data platform based on Databricks technology.
Faster more business impact with data
Intelligenthive lets you focus on making business impact with data, rather than being busy setting up and maintaining technology. By supporting the SIVI standards, insurers no longer have to spend time accommodating e.g. the popular SIVI All-finance standard (SIVI AFS) data model in its data platform. Beeminds relieves organizations of this task and reduces the complexity of implementation and management. If you already have your own data team, you can choose for a ‘supported’ version of our service, which will give your own data organization access to the powerful functionalities of the Intelligenthive and its proven effective way-of-work. Our solution & service is modular and we customize it to fit your (data) maturity level and needs.
“By using standards and our solution, data trajectories are executed faster, shifting the focus from technology to actually making an impact with data. In other implementations, we have seen that an acceleration of a factor of 4 is no longer an exception.”
Links as a service
Monitoring & maintaining links to your own applications is often a complex task. That is why Beeminds offers standard interfaces to applications that are widely used within the Dutch insurance market, such as e.g. ANVA, WeGroup, Instrasurance, Reliforce, Fineos , SureBusiness , Exact , AFAS. But also API links to other modern InsurTech solutions are among the possibilities. Beeminds takes care of the monitoring and management of these links, so you always have access to up-to-date data.
Billing based on usage
Beeminds believes that reuse & standardization is necessary to reduce complexity and really deploy technology sustainably within organizations. Sustainable deployment means that the data maturity level of an organization increases and that an organization can really rely on the available data and actually use it to make decisions.
In order to realize sustainable use of data within Dutch organizations, Beeminds continuously seeks cooperation with institutions & initiatives that want to increase impact within a specific sector. Beeminds’ revenue model is therefore based on usage & user satisfaction, rather than the deployment of expensive experts.
About SIVI
SIVIis a standardization institute in the Dutch insurance industry. It stands for Foundation for Implementation of Insurance via Internet. SIVI develops and manages standards for data exchange within the insurance industry, with the aim of simplifying and improving digital communication and data exchange. This includes, for example, standards for data formats, communication protocols and security measures. By using uniform standards, insurers, intermediaries, and other parties involved can cooperate more efficiently and effectively.
About Beeminds
Beeminds believes that every organization achieves more and is more agile when people, applications & algorithms use the right data in the right way. Our Intelligenthive solution therefore delivers relevant insights for current topics and lets organizations make impact faster with data, thanks to the power of standardization and reuse. This is how data maturity grows within your organization. We call data like water from the tap.
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