Fadata secures first major licensing deal in the UK
Fadata, a provider of advanced insurance technology solutions, has won its first major UK customer for its INSIS product.
INSIS is a modular software package that provides a complete insurance management solution to life, general and health insurers.
Charles Taylor, a provider of professional services to clients across the global insurance market, has selected INSIS to use in its international client servicing business.
INSIS provides a solution that meets all of Charles Taylor’s business requirements ‘out of the box’ and is able to offer seamless integration across its global client base. INSIS was selected for its functionality and flexibility, rapid implementation and exceptional return on investment.
Fadata UK will be supporting Charles Taylor InsureTech, the Group’s insurance technology business, during the implementation.
The first implementation of INSIS is expected to be completed during 2016 and will be for one of Charles Taylor’s new life insurance clients.
Charles Taylor plans to roll out INSIS to service its other clients in the future.
John Macdonald, chief executive officer (CEO), Fadata, said: “We are very much looking forward to working with Charles Taylor as a client to provide exceptional service to their customers. INSIS has been adopted in many international markets where it has proven to offer our clients a competitive advantage through efficiencies and delivering value for their customers in product innovation and servicing.”
David Marock, group CEO, Charles Taylor, added: “Insurers across the life, general and health insurance markets are crying out for systems which offer them new and more flexible ways of developing and delivering services to their clients in an accelerated way. INSIS will enable us to provide our clients with an even more efficient service and will allow them to improve their operational efficiency and decision making.
“It provides rich data, fast, efficient policy processing and will give our clients the flexibility to develop and launch innovative new products quickly and cost-effectively.
He added: “We are very excited about our partnership with Fadata. Combining the INSIS platform with our global reach and deep insurance knowledge gives us a powerful proposition. It will enable us to support insurers to be more efficient and agile, make better decisions and deliver better services.”
