Insurance innformation system solutions from INSIS, a division of FADATA

INSIS is a flexible state-of-the-art modular software solution that provides full coverage of all aspects of insurance business area both horizontally and vertically by incorporating all necessary actuarial calculations and reporting facilities.
By: INSIS, a division of FADATA
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Sofia - Bulgaria

Oct. 10, 2008 - PRLog -- Established in 1990, Fadata has now secured its position of a leading software development- and system integration company in Bulgaria. Our commitment to quality and perfection reflects in the product that we create and in the services and technology that we provide to our customers. These leading points form the philosophy that distinguishes Fadata as a provider of the highest technology standards.

FADATA is a Bulgarian company specialized on software/hardware and system integration and with a wide range of working experience in the field of information technology. Fadata has been actively involved in the numerous large scale IT projects in the Financial sector, Public sector and Private sectors.  

The company has successfully completed over 100 projects in different countries located in 4 continents Europe (Bulgaria, Greece, Romania, Hungary, Italy, Slovakia, Germany, Turkey, Estonia, Russia, Ukraine, Kosovo), Asia (Japan, Dubai), Africa (Ethiopia) and America (USA) and in various areas.

Fadata has a strong profile in information system development and implementation software related projects. The company has built its reputation providing high quality engineering solutions and services in a range of business areas:
Fadata is experienced in design, development and implementation of core business solutions for insurance companies.  

INSIS, the flagship product of Fadata, is a flexible state-of-the-art modular software solution[/url] that provides full coverage of all aspects of insurance business area both horizontally and vertically.  The package covers all types of businesses in both life and non-life, including unit-linked products and all insurance company’s needs related to the insurance activities – underwriting, premium collection and commission calculation, policy administration and claim processing with complete reinsurance coverage to finally produce full accounting transaction output to an external financial system. The system incorporates all necessary actuarial calculations and reporting facilities and seamlessly integrates other external software functions. INSIS is extremely flexible – the functionality is controlled via more than 5000 configuration parameters that allow the system to be fine-tuned for each specific company need. INSIS provides flexibility, scalability and a seamless integration of business operations across the entire insurance enterprise from back-office operations to front-office customer service management.

- FADATA is a leading independent ISO 9001 rated software vendor in Bulgaria, with numerous successful international and financial sector projects completed. It is an Oracle Certified Advantage Partner (the highest Oracle partnership level) serving private clients across Europe, Africa, North & Latin America and Asia.

- Fadata is active in implementation and integration of software systems for financial and enterprise management (Oracle e-Business Suite & Siebel) in companies in Bulgaria and Central and Eastern Europe.  

- Fadata also offers solutions and consulting services in area of Filenet implementation,  development of integrated Information systems for Government sector and Embedded systems & Real-time operating systems development.  

Insurance Solutions Department
The  Insurance Software Solutions Department is the biggest and yet fastest growing department of Fadata. Fadata has been focused on consulting and software development for insurance since 1992. The team that started the work in the insurance area has grown and now counts more than 50 experts in IT, insurance, actuarial science, accounting, reinsurance, etc.  In 1997, Fadata released the first commercial version of INSIS (Insurance Integrated System) which was based on development work completed for a number of Eastern European insurers. By 2001, the solution was significantly enhanced to align the system functionality with the world best insurance practice and technology.  
INSIS has secured its position on the market as a complete insurance solution. Currently the system is used in more than 30 companies in Europe and Asia. The large number of successful implementation proves the correctness of the system concept and implementation approach and makes the system a perfect platform for enhancements to move INSIS to a new competitive level in the market for complete insurance solutions providing our customers with solution far beyond the standard INSIS functionality.  
In 2007 INSIS was listed in the Celent report that profiles the majority of the available general insurance administration systems in Europe today. INSIS is ranked within the top five insurance solutions among 34 vendors available in the European market.
This report uses Celent’s ABCD Vendor View, which is a standard representation of a vendor marketplace designed to show at a glance the relative positions of each vendor in four categories:

1. Advanced  technology and technical flexibility,
2. Breadth of functionality,
3. Customer base
4. Depth of client services.  

INSIS team has experience in large number of successful implementations:

- In different countries – Bulgaria, Romania, Slovakia, Hungary, Ukraine, Russia, Dubai, Estonia, Kazakhstan; there are a number of ongoing projects in Africa, South America and North America.
- For various insurance sectors – Life Insurance, Non-life insurance, Bankassurance, Health, Pensions.
- On all kinds of hardware/software platforms – IBM-AIX, HP-UX, Linux, Microsoft Windows
-  World renowned insurers and financial groups like QBE Europe, QBE Americas, Viena Insurance Group (Austria), OTP (Hungary), BTA (Bank Turan Alem - Kazakhstan) have chosen INSIS as their corporative solution, successfully implemented and exploited for a number of years.

Our implementation services include:
- Project Management – management of scope, work, configuration, risk, problem, etc.
- Business Process Definition and Alignment
- Business Requirements Collection and Definition
- Business Requirements Mapping, Gap Analysis and Solution Design
- Application and Technical Architecture Definition, Sizing and Optimization
- System Extensions Design and Build - including new functionality, forms, reports, processing, customizations, on-line and off-line interfaces with other systems, etc.
- Data Conversion Planning, Conversion Tools Development, Reconciliation Support
- Documentation Preparation – Process Flows, Procedures, User’s Guides, Technical  - Documentation, On-Line Help, Multimedia Training and Help materials
- Testing - planning and performing unit, system, integration, conversion, migration, and performance tests
- Training for key-users, end-users, developers and system administrator trainings
- Data Migration Strategy, Preparation and Support
- Go-Live Planning and Support

We provide wide range of support services to our customers including:
- Hot-line support
- Bug and problem fixing
- Applying patches and upgrade to new releases
- Full set of system and DBA administrator services
- Other services on demand

The department staff includes:
- Project Managers
- Senior Insurance Consultants in various business areas (accounting, actuarial, reinsurance, Life, Health, Non-life, etc.)
- Applications Specialists
- Trainers and Support Specialists
- System and Application Architects  
- Technical Designers and Developers
- System Administrators

INSIS, a division of FADATA
INSIS package information at
INSIS blog about insurance information systems at

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Integrated insurance management system providing insurance software solutions and service automation, ERP systems development and integration.
Email:Contact Author
Phone:+359 2 963 2141
Tags:Insurance, Information, System, Software, Erp
Industry:Insurance, Software, Technology
Location:Sofia - Bulgaria
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Page Updated Last on: Oct 10, 2008

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