Liselotte Munk, CEOFor more than two decades, Fadata Group has been working to help insurance companies stay ahead in the competitive landscape by implementing digital processes and software solutions for them. The company’s advanced client-centric integrated insurance process platform, INSIS, combines all the major core processes of insurance, all the way from underwriting to claims processing and reinsurance, both horizontally and vertically. INSIS is a low-risk and low-investment choice that could be utilized by companies of all sizes. Also, as INSIS is a back office platform that automates the backend processes of an insurance firm and manages its services with high efficiency, Fadata Group has developed it as an open platform which can be integrated with any external solutions. This integration helps clients to merge their products and services with the insurance products of their business partners and introduce the new services in the market. “We have built the INSIS platform using cutting-edge technology, and we are continuously enhancing our offering by developing next generation functionalities to help insurance organizations stay ever ahead of competition, while also maintaining high security standards, which is imperative for the business in which our clients operate,” adds Mrs. Liselotte Munk, the CEO of Fadata Group.
The INSIS platform is built using external business process engine and product engine to aid clients in introducing new changes in their products or services instantly and without any hassle. “As everything is configurable in our INSIS platform, any change made in the product portfolio of an insurance company is reflected automatically in the product, without altering its infrastructure,” explains Liselotte.
Fadata Group also leverages its partnerships with several local and global enterprises to comprehend the needs of the insurance firms and align its solutions with their requirements. Liselotte states that Fadata Group’s global partnerships help it to further enhance the INSIS offering by understanding the needs of its international clients. On the other hand, the local partnerships of the company allow it to easily analyze the requirements of the, local insurance organizations, their priorities, strategies, and strengths.
We develop our solutions using the current technology to help organizations stay updated and also ensure that high security is maintained while building these solutions
These alliances allow Fadata Group to interact seamlessly with the key stakeholders of various insurance organizations, globally as well as locally.
Among the myriad of organizations that Fadata Group’s team has assisted, its collaboration with one of the world’s largest financial services groups, Prudential, stands out as a unique example. Prudential was faced with a series of challenges, out of which the lack of support for customer lifecycle services such as the policy anniversary process, surrender valuations, and managing claims was a major one. Also, when Prudential discovered that their innovatory tablet sales application was functioning slowly, they approached Fadata Group for assistance. The company’s INSIS platform offered a perfect mix of out-of-the-box functionality, rapid customization, and a modern, open technology, which helped Prudential to short-circuit their traditional implementation strategies. This solution also allowed Prudential to add functionality for a multi-agency sales channel launch.
Moving ahead, the company envisions maintaining a diversified work culture, employing a large number of female engineers in every department. To further supplement its solutions and operational workflow, Fadata Group focuses majorly on the projects at hand and continues to develop solutions for insurers at high speed with efficiency. The firm also plans to expand its footprints geographically in the international market with the help of its global partnerships.