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At the start of September, INSIS software solution of Bulgarian Company Fadata was successfully brought into industrial operation in Providna IC
"We are very pleased by the accomplished results, despite of some delay in our view in the system startup. However, one should consider all seriousness and responsibility involved, and I am satisfied with coordinated work of teams of both Providna and Fadata, who succeeded in completing the project of similar significance for the Companies. Surely, IC Providna is going to develop even more impressive progress in the insurance market of Ukraine. This is our sincere wish, too", adds Anri Levy, President of the Fadata Company."
"Evidently, completion of the insurance OS is a next serious landmark in creating a high-performance company. The system enabled accounting automation of all sales transactions, policy management, claims settlement and re-insurance. Implementation of the system involved all principle business processes of the Company, and now we are able to execute operative control of every insurance operation along with active managing of sales.
It was an ambitious and extremely tense project for our Companies. We are pleased it was completed within a rather tight timetable", marked Iryna Sirenko, President and Chairman of the Board of IC Providna."
In Ukraine, the startup of the INSIS system is on the finale stage in IC ASKA, followed by scheduled implementation of the system in NJSC IC Oranta, whereas the life insurance based version of INSIS is already functioning in IC Oranta-Life. Conclusion of agreements on INSIS implementation in two more Ukrainian insurance companies of Vienna Insurance Group is anticipated before this year's end. In Russia, since August started implementation of INSIS in IC Russian Standard.About IC Providna Company
IC Providna CJSC have been present in the Ukrainian insurance market since 1995. Providna offers 54 obligatory and voluntary insurance products. The Company is represented by 414 offices in 381 cities of Ukraine. Personnel of Providna numbers over 2 400 staff members, and over 3 000 insurance agents.
IC Providna is a part of "Rosgosstrakh" Group of Companies. For its scale and area coverage, Rosgosstrakh is a major Russian insurance Company with 87 years of expertise in the market.
IC Providna won the 5th place in the stability rating of open insurance companies in a risk insurance segment in "Expert Rating" Agency's version. The Company entered the "A" rating group [pi] scoring 1.16.
IC Providna was third in "Top professional insurance companies" ratings based on results of "Financial rating" contest arranged by "BUSINESS" magazine.
The Company won the 1st place in nomination "The most active company" based on rating results amongst the best insurance companies of Ukraine in 2007 in "Delo" newspaper's version.
About Fadata Company
Established in 1990, Fadata is a leading provider of software solutions for insurance companies worldwide. INSIS, one of the flagship products of Fadata is a system of choice amongst insurance companies in Bulgaria, Romania, Ukraine, Russia, Kazakhstan, Azerbaijan, Estonia, Hungary, OAE, the USA, Columbia, Slovakia, Ethiopia and Greece.
As an Oracle Certified Advantage Partner, Fadata also offers solutions, consulting services and service backup in Oracle Applications: Oracle e-Business Suite, Oracle CRM, Oracle Enterprise Content Management and BI solutions.
Headquartered in Sofia, Bulgaria, Fadata has offices in Romania, Serbia and Portugal. The Company is going to open its Ukrainian representative office before this year's end.
In 2007, Fadata/INSIS was rated as a leading provider of software solutions for insurance entities of Central and Eastern Europe by Celent, American Research and Consulting Agency. In 2008 INSIS was awarded the Ukrainian Financial Elite prize of „Product of the year" category.
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