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Fadata opens a subsidiary in Serbia

Fadata has proved itself as a leading provider of insurance business solutions with its successful product INSIS – Oracle based integrated information insurance system. The company is Oracle Certified Advantage Partner and delivers a variety of services – from consulting to development and implementation of Oracle based solutions for financial and banking sector in the neighboring regions.

“Expanding the activities is the most natural way of developing the company. 2006 was one of the most successful in our 16-years presence on the market – we achieved 100% growth of revenue and manage to increase our market share with 30%. All this is as a result of signing a contracts for INSIS implementations in Russia and Ukraine, and also as a result of very big deals with corporate customers for the region of America and East Europe”, the president Levy mentioned.  

Belgrade subsidiary will offer ERP and CRM Oracle based solutions, consultations and implementations of systems, and will play active role implementing a solutions for government and utility sector, and also will work for the corporate customers in Serbia and the region.

“First client of Fadata Serbia is JK - Novosadski toplana - Novi Sad, where the ERP system, based on e-Business Suite, is going to be implemented. The system will cover all activities of the company – starting with financial part, going through storage, technical support and customer relations” explains Alexander Andreev, Director ERP and Financial Systems, Fadata.  

Fadata Serbia will answer the needs of insurance business in Serbia by offering with the help of a local partner Antegra services for implementation of INSIS – the insurance product, praised by Oracle Corporation as one of the most advanced solutions, available on the market.

INSIS is developed on the basis of the newest stack between the Oracle corporation technologies, among which DBMS Oracle Database 10g and Oracle Fusion Middleware. This flexible solution has module architecture and can be easily configured in accordance with the customer specific requirements. The system functionality is specified with the help of more than 5000 parameters.

This system has wide perspectives at the international market, because it embodies the best experience of foreign developments and takes into consideration the customer specific requirements. In result of workable projects for INSIS implementation all over the world, the system has been already adapted to the specific requirements of different insurance practices. INSIS version, which is going to be offered in Serbia, is localized and adapted to the requirements of local authorities.

2006 was very successful for Fadata  – in August 2006 «Insurance Company «Providna» (Ukraine) - CJSC and Fadata concluded a long-term contract for the implementation of INSIS system.  As a result of series of tenders the INSIS system was chosen by the Russian insurance company “Alpha Insurance – Life” LTD, which is one of the leading companies at the Russian insurance market. INSIS Life was chosen among 5 products, participating in the tender. One of the biggest Ukrainian insurer PZU –Ukraine is going to implement all 3 modules of INSIS, covering Life insurance, General Insurance and Health.

The INSIS software is installed on the test and scalability Centre in Sofia, and is accessible for presentation and testing. The system can operate successfully more than 30 mln policies, showing stable and reliable work with high volumes of operations, keeping its high performance.

About Fadata

Founded in 1990, the Fadata Company is the leading provider of software solutions for insurance companies all over the world. The Fadata success is due to the main product, delivered at the market, namely INSIS (Insurance Integrated System), and the flexible module solution, which ensures complex automation of insurance business. Fadata also offers services for implementation of Oracle Applications and FileNet, the development of big information systems for government segment and IT consulting. The company head office is situated in Bulgaria, and at the same time the distribution and partner networks comprise around 20 countries, including Russia and Ukraine. The client base numbers more than 110 companies in different countries.