Fadata, a provider of advanced insurance technology, has won its first major UK customer for INSIS, a 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.
Fadata provides software solutions to insurance companies globally that automates all of their insurance related processes (from underwriting, premium collection, commission calculation, through policy administration and claim management, to complete reinsurance coverage).
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, 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 Chief Executive Officer, Charles Taylor said: "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.
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