Fadata case studies

AlfaStrakhovanie Life automates its business processes with INSIS solution from Fadata

Since January 2009, AlfaStrakhovanie Life has run into production a new operating system INSIS by Fadata. INSIS automates business processes related to insurance contracts management, reduces time of documentation processing and new policies release, enables to improve customer service for both new clients (interaction at the stage of medical and financial underwriting) and customers with existing policy inquiries. Furthermore, the system increases speed and accuracy of commission calculation for the retail and company partners. Such advantage is possible due to the integration of INSIS with the accountancy system "Parus" that allows to operatively import and process data necessary for the business.

"Implementation of such system is an important step for the company allowing it to instantly improve some key indicators: to lower quantity of errors, to reduce expenditures of labour and, as a consequence, to reduce company cost", has commented Mr. Tamas Rajnai, General Director of AlfaStrakhovanie Life.

"We believe that INSIS will allow AlfaStrakhovanie Life to optimize its internal business processes and to raise the quality of service – the major factors of success for the company which is within the top 5 in the market", has added Mr. Anri Levi, the CEO of Fadata AD.

Oman Insurance Company, Dubai, UAE

“Yes, we have succeeded, with the help of INSIS application and the magnificent efforts and support put by Fadata expertise, we have finally had a piece of mind.”

He also appreciated all the efforts put by Fadata’s expertise for the successful implementation of INSIS application to automate all OIC’s Life portfolio, a solution that is so flexible, manageable, covers all our needs, and fits within the entire IT infrastructure of the company.

Mr. Ayman Hegazy, IT manager, Oman Insurance Co.

“We used to divert lots of time and energy to keep our software infrastructure up-to-date and covering not only our needs as a premier Insurance company, but also our customers’ special needs and the market’s ever changing demands.

This is not and never was an easy thing to achieve, especially with a company that provides all types of insurance coverage and maintains a leading position in the region and very well known for its high quality services.”

Mr. Abdul Muttalib Mustafa, GM of Oman Insurance Co.

Oman Insurance Company is the one of the biggest insurance companies in Dubai with nine branches spread across the Emirates, providing Life (Whole life, Term, Endowments, Annuity, Unit-linked) and Non-life (Motor, Property, Personnel, Liability, Financial, Agriculture, Business Interruption, Aviation, Marine, Transportation of goods, Constructors all risks, Railway) class insurance products. The project covers all the mentioned life and unit-linked products. Services provided to OIC by Fadata are similar to the other INSIS life projects.

Environment that INSIS was deployed in: OS dB/Development tools: Oracle 9i/ Oracle Internet Development Suite, Oracle iAS 9; Networking: 100 Mb/s Ethernet; Architecture: (tier, centralized or distributed): 3-tier; HW: HP Alfa RISC Server, NT servers. PC workstations; Number of branches: 9; Duration of the project: 11 months.

The services provided include: Analysis of the Life insurance products and procedures; Gap analysis, and project activities planning; Configuration of the Life insurance products in INSIS; Configuring the Accounting module; Configuration/Development of the functionality for integration with third party systems (GL, AP, AR); Application software customization; Accounting procedures; Development of reports and printouts; System and application software installation; Data migration; Training of system administrators; Training of operators; Training of report and form developers.

INSIS has been integrated successfully with the CSDB in Kazakhstan

In Kazakhstan, Fadata successfully finished the implementation of integrated system for insurance business management, INSIS-Non Life in the insurance company АО «BTA Insurance ». The BTA group has chosen INSIS after lengthy analysis of compatible solutions. Built on a module principle, NSIS is easy to be configured and implemented in short terms. The system is flexible and adaptive to the needs and specific features of the business, and also it is integrated in the existing financial and information systems.

The INSIS - Non Life system, implemented in «BTA Insurance » comprises the following modules: insurance contracts administering , settlement of claims, reinsurance, management of insurance agents network and accounting for their commission fee percent, management of customers insurance accounts, insurance products management , insurance of physical entities and subjects, sale and marketing.

INSIS is integrated with CSDB, which is the unified statistical database for insurance of drivers and automobiles in Kazakhstan. The integration has been done with the help of web services. Before the issue of MTPL policy, each insurance company has to check in the database the driver’s bonus-malus coefficient and register the policy in the database after its issue. If the motor vehicle driver is not found in the database, then the motor vehicle should be registered there.

BTA Insurance has become the first ever insurance company that meets the requirements of the local legislation. The advantage of INSIS implementation in BTA Insurance is that by the automation of business processes the insurer increases the business management efficiency aiming to its growth, increase of its flexibility and speed when offering new products and insurance packages. Obtaining of consolidated statements and financial results help the managers to easier archive the stated objectives in all companies in the group structure.

Implementation of INSIS solution in Providna IC Company, Ukraine

After thorough check of software in a testing period, operation of the INSIS Software started in IC Providna on September 1 2008. Implementation of the software for the general insurance in IC Providna was a result of the long-term agreement concluded by the companies for implementation of the principle insurance information system with possible extension hereof by supplementary modules and external business applications.

The services provided include implementation of INSIS Non-life insurance package as well as integration of the system with external systems of the insurance company: integration with the 1C financial system, HRB – the human resource system, implementation of the Blank module as well as implementation of the Self Service Module which enables the insurance agents to access basic INSIS functionality through a simplified user-interface.

The project covers: automation of all business processes of the insurance company including contract management, premium and commission calculation, claim settlement management, person and insured object management, reinsurance and etc. INSIS automates all business lines of the insurance company (up to 40 insurance products).

"Evidently, completion of the insurance OS is a next serious landmark in creating a high-performance company. The system enabled accounting automation of all sales transactions, policy management, claims settlement and re-insurance. Implementation of the system involved all principle business processes of the Company, and now we are able to execute operative control of every insurance operation along with active managing of sales. It was an ambitious and extremely tense project for our Companies. We are pleased it was completed within a rather tight timetable", marked Iryna Sirenko, President and Chairman of the Board of IC Providna.

QBE

QBE Insurance Group, based on Sydney Australia, is diversified insurance and reinsurance company and one of the top 25 worldwide. With offices in 38 countries, the Group’s gross written premium was AUD$ 8, 350 million in 2003. After an extensive evaulation process, INSIS was chosen as the insurance management solution for the QBE operations located in Central and Eastern Europe. Within the Central and Eastern Europe region, QBE provides a wide range of products including Unit Linked, Life Assurance, Travel, Personal Accident, Motor, Property, Liability, CAR/EAR, Machinery Breakdown, Marine, Cargo, Livestock, Agriculture.

Environment that INSIS was deployed in: OS dB/Development tools: Oracle 8i/Designer2000, Developer2000, Oracle Express, C++; Networking: 100 Mb/s Ethernet; Architecture: (3-tier, centralized or distributed): 3-tier; HW: SUN UltraEnterprise servers, PC workstations; Number of branches: n.a.; Duration of the project: 33 months.

The project provides functionality that covers all the insurance operational activities; automated link to the Oracle Financials; supports the required insurance reservations, operational and statistics, reports, central data base, reliability and operational stability of the system, quick access to the data. The services provided include: Analysis of the Life and Non-life insurance products and procedures; Gap analysis, and project activities planning; Configuration of the Life and Non-Life insurance products in INSIS; Configuring the Accounting module; Configuration/Development of the functionality for integration with third party systems (GL, AP, AR); Application software customization; Accounting procedures; Development of reports and printouts; System and application software installation; Data migration; Training of system administrators; Training of operators; Training of report and form developers.

Implementation of INSIS in State Insurance Institute

Leveraged INSIS functionality to introduce efficiencies to insurance business processes; tight integration of the other information systems; automated and more effective business processes; increased productivity and control; full coverage of all aspects of the insurance business, both horizontally and vertically; valuable insights into best business practices; powerful actuarial calculations and reporting facilities, global application and functionality to support a global single instance; created support for the future growth.

"The employment of INSIS made our work much easier. With the unification of the complete set of technological systems not only the duration of daily operations has been sped up dramatically but also that of the monthly balance sheet elaboration. Statistical references and insurance reserves are much easier to prepare due to the fact that they are processed automatically by the package." --Dancho Danchev, Deputy Executive Director, State Insurance Institute

State Insurance Institute – one of the biggest insurance companies in Bulgaria turned to Fadata for implementation of insurance integrated solution. The Company had the goal to assessing how it intended to manage their current business, accounting and reporting on current financial results and to plan for the future growth. State Insurance Institute chose Fadata insurance package INSIS and Oracle enterprise resource planning (ERP) applications to manage its financial functions.

Why INSIS

State Insurance Institute conducted a prolonged search of insurance solutions. The Company looked for a modern package that fully supports the current business needs but has also the flexibility to support future business requirements and found that INSIS fully covers all the aspects of the insurance business presenting a powerful management solution for insurance area.

Why Fadata

State Insurance Institute engaged Fadata for the implementation of INSIS. "The main reasons to choose Fadata had the professional know-how and the install base to pull off that kind of development in a rapidly changing technology market," Mr. Danchev said " INSIS ensures the necessary speed of the performance and leveraged INSIS package functionality to introduce efficiencies to insurance business processes."

Project details

The project covers implementation of INSIS Non-life insurance package.The services provided include: Project Management; Review of the entire operation system and business processes of SII; Documenting current systems – manual and automated used; Identifying and detailing missing information and processing needs of management; Detailing and documenting broader MIS requirements; Preparing and presenting findings and recommendations to senior management for review and concurrence; Developing and presenting a high-level design specification, etc.; Development; Configuration set-up; Reporting; HW and SW supply; System administration; Implementation; Distribution; Training; Data migration; Documentation; Maintenance.

Operational environment: Oracle 8 DBS, Oracle Designer 2000, Oracle Developer 2000, PL/SQL; Networking: 100 Mb/s Ethernet; Architecture: 3-tier/ client-server; HW: IBM RS/6000 & NT servers, PC workstations.

State Insurance Company is one of the the biggest insurance companies in Bulgaria providing Life- and Non-life (Motor, Property, Accident, Liability, Financial, Agriculture, Business Interruption, Aviation, Marine, Transportation of goods, Constructors all risks, Railway) class insurance products.