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Fadata wins strong position on the Russian Insurance Market

Fadata was the first Bulgarian software company, who conducted a special press conference in Moscow, Interfax agency, in the end of October, to present its leading insurance product INSIS and to inform Russian journalist and insurers about the advantages of INSIS, new customers and new distributor for Russia – IT system integrator FORS – CD.
Special guest of the event where Konstanin Kharin, sales manger Oracle Russia, Mikhail Stati, deputy president of Standard Reserve, Nickolay Zezulinsky, Director Business development in FORS – CD.
The leading theme ot the press conference was the statement of Fadata to became a leading provider of insurance software solutions for financial sector and particular in insurance segment with the support of Oracle Corp.

"In the EE&CIS region, we are happy to confirm that FADATA is one of our strategic partners in the Financial services industry. In particular, within the Insurance industry, where the insurance information system INSIS is one of the most advanced application available", says Mr. Bob Hroch, Business Development Director Financial Services EE&CIS region.
INSIS is a fully functional system, which covers all activities in a state-of-the-art insurance enterprise. Built on the basis of the modular principle, INSIS enables easy configuration and implementation; flexible adaptively in accordance with the needs of the particular business; and integration with the existing information systems.

INSIS is an intelligent system, a hi-tech solution, which has an easy and user-friendly interface. No special computer skills are necessary, in order to work with INSIS; the user must only have comprehensive knowledge of the insurance business. It covers in details all insurance activities – life-insurance, property insurance, health services, actuary services etc. Moreover, INSIS is easily adaptable to the specifics of every particular market. Main advance More than 20 corporate customers, having hundreds of branch offices, already benefit of the advantages of INSIS: QBE Insurance Group, OTP Bank Group, TBIH Financial Services Group and Vienna Insurance Group (former Wiener Staedtishe) are among them. In March 2006, Fadata, in consortium with Àgresso and Kenya Micro, won a tender for implementation of the information system of the Ethiopian Insurance Company. Under this contract, Fadata will implement the module supporting life-insurance activities. The Israeli insurance company CLAL is a new client; it chose the INSIS solution for its offices in Central and Eastern Europe. The first implementation was in CLAL Romania.

Fadata and its leading product – INSIS – are well-known at the Russian and at the Ukrainian markets, both directly and thru the partners Kvazar Micro Consulting and recently appointed Russian FORS - DC.