Data Repository Platform
Home > Platforms > Data Repository Platform
By harnessing the power of digital technologies and the immense wealth of historical data, the insurance industry can become more efficient and profitable. As the custodian of the industry’s performance, the insurance association can use the immense intelligence hidden within data to regulate the industry functioning, introduce new regulations and frameworks and identify gaps in the system that can be corrected before it impacts the industry or any specific insurance company or business.
Using a centralized data platform, the insurance association can identify and mitigate risks inherent in operations.
The Beyontec Data Repository Platform is a centralized, secure cloud-based data warehouse of shareable insurance data and information, maintained by the insurance association. It provides real-time information exchange between all insurance companies for better underwriting decisions, managing claims and complying with KYC regulations.
Dedicated Data Repository for Insurance Industry
Accelerate data governance within the industry by offering a common data warehouse that provides a scalable, comprehensive and flexible framework for strategic and innovative data initiatives.
Direct Integration and Web-Based Access
The platform comes with powerful data integration features where data obtained from disparate sources are transformed for analytical and validation purpose.
Cater to Multiple Validation Requirements
The centralized warehouse of data helps insurance companies to validate policy, customer or company related information in real-time.
Real-Time Response for Validation Requests
By integrating multiple systems using pre-built APIs, the platform enables users to access and validate information for better decision making. Data on existing claims, blacklisted clients, stolen or total loss vehicles and much more can be validated to reduce financial risks.
Match Percentage Analysis
The platform can perform match percentage analysis to show the results of a data query so that the user can pick the right data match for his need.
Multiple Integration Methods with Core Solutions
Using the library of integration tools and APIs the platform can integrate with any core system of insurers.
The platform has many layers of security protocol in-built in it, with user-defined access rights to each data sources.
Quick and Accurate Results
The structured and unstructured data in the platform is classified and tagged with metadata for real-time and accurate search results.
Efficient Underwriting and Claims Process
Insurance companies can use the data to validate customer information, both current and historical data, to take more informed decisions on underwriting and claims processing.
Audit Trail and History Maintenance
Metadata tagged to data provides detailed audit and historical details about the data and databases. The metadata explains where the data source is, how it was captured, and what it represents.
Get instant access to historical claims information that can aid in effective underwriting and claims processes.
Stolen/Total Loss Vehicle Repository
The platform can aggregate and store all information related to stolen or total loss vehicles making it easy for insurers to validate the vehicle details and prevent frauds associated with claims and renewals.
Blacklisted Clients Repository
The platform can store and archive details of blacklisted clients which is very useful for industry players to validate the customer information or any other regulatory need.