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Celent report ranks INSIS as a leading insurance solution

In July 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 http://www.celent.com/PressReleases/20070619/EuroGIPAS.htm 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: Advanced  technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services.

“The diagram shows the INSIS/Fadata place on that ranking and we are proud that the major international consulting companies have officially recognized the leading market position of INSIS PAS”, says Mr. Anry Levy, the president of Fadata.

INSIS position on the diagram is entirely inline with Fadata strategy and concept of what  company shall deliver to the customers. INSIS will remain a core insurance solution and Fadata does not intend to add functionality like CRM, BI, and Document management that some competitors provide as indivisible part of their PAS.  Vendor’s position is that all those functionality can be better provided by external applications like Siebel CRM, Siebel BI, InsFocus BI, File Net, etc.

“This is the only reason why INSIS is not on the top of the diagram regarding the parameter “B - Breath of functionality”, explains Mr. Levy.  “We believe that our approach is more appropriate for the customer and it makes INSIS a modular and more focused on the insurance business system.”

This result has been achieved in less than two years persistent and diligent marketing and sales activities as well as significant improvement of INSIS business functionality and application architecture. Today INSIS is a leading and mature solution for any insurance company and this position has been now approved by leading business consultants.
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.
The product road map for the next year is to move the core solution to service oriented architecture and expose all functionality in web services based on Oracle SOA Suite. The access of the functionality is implemented using Oracle EDS Bus and BPEL thus making INSIS standard SOA application fully compatible with the latest technology development. This allows the system to be easily extended with industry standard CRM, Case management, and Workflow services. Using this technology the system is already integrated with Siebel to utilize its powerful CRM and workflow services and Case management.

About Celent

Celent, LLC is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis.

About Fadata

Established in 1990, Fadata is a leading provider of software solutions for insurance companies worldwide. Its leading insurance product INSIS has customers in USA, Bulgaria, Romania, UAE, Estonia, Slovenia, and Greece. The INSIS trademark has been patented and protected in USA, Bulgaria, Ukraine, Romania, Slovakia, Slovenia, Macedonia and Hungary.
Fadata also offers solutions and consulting services in area of Oracle Financial/Applications and FileNet implementation, development of integrated Information Systems for government sector and Embedded systems & Real-time operating systems development.
Headquartered in Sofia, Bulgaria, Fadata has a global distribution and supports office and partners network in 20 countries including Russia and Ukraine,where it serves the needs of 110 customers.