February 22, 2023 – Mississauga, ON
SEB Administrative Services Inc. (“SEB Admin”), a subsidiary of Smart Employee Benefits Inc. (“SEB” or the “Company”) (TSXV: SEB) (OTCQB: SEBFF), an Insurtech provider of cloud based, end-to-end IT and Benefit Processing solutions for the life and group benefits marketplace and government, is pleased to announce that it is set to launch its new Data Lab, an innovation centre for data, to harness opportunities within the field of data science. Initially, the Data Lab will be focused internally, to accelerate data experimentation and educate employees on the field of data science, the limitless possibilities of data applications and to stretch the application of data.
As a technology company, SEB wants to foster a data driven culture throughout the organization. We’ll start with gamification, and use this as a learning opportunity, to demonstrate how games are built with data and won’t miss the opportunity to customize the games to incorporate our business values and core product information! An engaging way for employees to get hands-on experience and ensure they have the skills and data science thinking that is needed for the future.
Later, the Data Lab will be used to support our clients and their business goals by providing the data insights needed to move their objectives forward. Business decisions are data driven, and by collating data from all our applications, databases, text documents, pictures, PDFs, etc. into “data lakes”, we can then transform the data to add value through out-of-the-box reports, predictions and trends based on this mined historical data. The SEB Data Lab will be the engine to explore, analyze, transform, visualize data and build AI and machine learning models composable into our product line. The primary focus will be on decision support, decision augmentation and decision automation capabilities. Very powerful! Very Exciting! Stay tuned for more details.
States Mohamad El Chayah, COO of SEB and President & CEO of SEB Administrative Services, “The SEB data lab will be the platform to accelerate our innovation agenda, optimize connectivity and bridge the gap between data models and conceptual models from ideation to realization of data driven business models.”
About SEB Administrative Services Inc.
SEB Administrative Services Inc. (“SEB Admin”), a wholly owned subsidiary of Smart Employee Benefits Inc. (“SEB”, TSXV:SEB), is a third-party administrator (“TPA”) providing leading edge cloud-based, fully bilingual, benefit processing solutions using SEB Admin’s proprietary and customized technologies, solutions and services of Partners. SEB Admin’s “FlexPlus” platform provides single sign-on connectivity for all group benefit stakeholders. FlexPlus® has over 20 modules supporting multiple revenue models, capturing over 90% of all benefit processing activities for all benefit types. Each module can operate standalone or as an integrated solution. SEB Admin manages benefit plan environments for more than 50 of Canada’s name brand companies and government entities. SEB Admin has over 350,000 plan members under administration and more than 180,000 additional plan members under contract and in transition; in total representing more than $1.3B of premium. FlexPlus cloud-enabled solutions support all plan designs – traditional, flex, cafeteria, hour bank, dollar bank, marketplace – via co-sourced, fully outsourced or SaaS models. Our solutions turn cost centers to profit centers for many of our clients and partners.
For further information about SEB Administrative Services Inc., please visit: www.seb-admin.com.
About Smart Employee Benefits Inc.
SEB is an Insurtech company focused on Benefits Administration Technology driving two interrelated revenue streams – Benefits Solutions and Technology Services. SEB is a proven provider of leading-edge IT and benefits processing software, solutions and services for the Life and Group benefits marketplace and government. SEB designs, customizes, builds and manages mission critical, end-to-end technology, people and infrastructure solutions using SEB’s proprietary technologies and expertise and partner technologies. SEB manages mission critical business processes for over 150 blue chip and government accounts, nationally and globally. Over 90% of SEB’s revenue and contracts are multi-year recurring revenue streams contracts related to government, insurance, healthcare, benefits and e-commerce. SEB’s solutions are supported nationally and globally by over 600 multi-certified technical professionals in a multi-lingual infrastructure, from multiple offices across Canada and globally.
SEB’s solutions include both software and services driven ecosystems including multiple SaaS solutions, cloud solutions & services, managed services offering smart sourcing (near shore/offshore), managed security services, custom software development and support, professional services, deep systems integration expertise and multiple specialty practice areas including AI, CRM, BI, Portals, EDI, e-commerce, digital transformation, analytics, project management to mention a few. SEB has more than 20 strategic partnerships/relationships with leading global and regional technology and consulting organizations.
For more information, please visit: www.seb-inc.com
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